Reinsurance News
Athene
Athene reports significantly higher Q2 net income
5th August 2019
Athene Holdings Ltd. has reported a significant 180% increase in net income in the second-quarter of 2019 to $720 million, driven by favourable changes in the fair value of reinsurance assets on the back of a decline in Treasury rates. Athene, a provider of retirement savings products, saw its Q2 2019 ... Read the full article
Athene helps take on $940mn of pension liabilities from Dana Incorporated
26th June 2019
Athene Holding Ltd., the Bermudian retirement services company owned by private equity firm Apollo Global Management, has taken on a portion of a $940 million block of pension liabilities from Dana Incorporated, a provider of power-conveyance and energy-management solutions for vehicles and machinery. Under the agreement, Dana will transfer all the ... Read the full article
Athene co-founder Frank Gillis to retire as CEO of life business
14th June 2019
Athene Holding Ltd., one of Bermuda's leading retirement services companies, has announced that company co-founder Frank ‘Chip’ Gillis is to retire at the end of 2019. He will step down from his role as Chief Executive Officer (CEO) of Athene Life Re, but will continue his involvement with Athene as Executive ... Read the full article
Athene adopts pension risk analytics platform from RiskFirst
13th June 2019
Athene Holding Ltd., one of Bermuda's leading retirement services companies, has become the first insurer to adopt PFaroe, the pension risk analytics and reporting platform from RiskFirst. Using PFaroe’s on-demand liability and transaction price monitoring services, Athene plans to help sponsors evaluate risk and purchase annuities at the optimal time. “We see ... Read the full article
Athene adds Scott Kleinman, Mitra Hormozi to Board
12th December 2018
Athene Holding Ltd., one of Bermuda's leading retirement services companies, has appointed Scott Kleinman and Mitra Hormozi to its Board of Directors, effective immediately. Kleinman is Co-President of Apollo Global Management and shares responsibility for all of Apollo’s revenue-generating and investing businesses, with particular focus on equity and opportunistic business. He is ... Read the full article
Athene announces $7.7bn block reinsurance deal with Lincoln Financial Group
10th December 2018
Athene Life Re (ALRe), a subsidiary of one of Bermuda's leading retirement services companies, Athene Holding, has entered into a reinsurance agreement with The Lincoln National Life Insurance Company, a subsidiary of Lincoln Financial Group. Under the agreement, ALRe has agreed to reinsure an 80% quota share of a $9.6 billion in-force block ... Read the full article
Athene enters pension risk transfer deal with Bristol-Myers Squibb
4th December 2018
Athene Holding Ltd., one of Bermuda's leading retirement services companies, has entered into a pension plan termination transaction with U.S pharmaceutical giant Bristol-Myers Squibb Company relating to more than 24,000 active and former employees, retirees and beneficiaries. The agreement will see Athene’s Iowa-based life subsidiary, Athene Annuity and Life Company (AAIA) ... Read the full article
Athene and Apollo revise partnership to promote asset outperformance
20th September 2018
Athene Holding Ltd., one of Bermuda’s leading retirement services companies, has amended the terms of its investment management arrangements with Athene Asset Management LLC, a subsidiary of Apollo Global Management, LLC, to support its continued profitable growth and long-term asset outperformance. “Differentiated asset management has been an integral part of our ... Read the full article
Athene eyes strengthened product distribution after S&P ratings boost
21st August 2018
Athene Holding, one of Bermuda's leading retirement services companies, has seen its operating companies’ credit rating boosted from A- to A by global ratings firm S&P Global, which Chief Executive Jim Belardi believes will benefit the company’s product distribution and accelerate growth. “This upgrade reflects our stellar financial results and will ... Read the full article
Athene responds to notice from California Department of Insurance
15th June 2018
Athene Holding has responded to a regulatory notice from the California Department of Insurance (CDI) that has proposed fines and the temporary closure of its subsidiary, Athene Annuity and Life Company, for allegedly failing to meet California service standards for around 50,000 life insurance policies. The CDI said that, since 2016, ... Read the full article
Athene to reinsure $19 billion of Voya Financial annuity liabilities
21st December 2017
Athene Holding has entered into an agreement with Voya Financial to reinsure about $19 billion of fixed and fixed indexed annuity liabilities. Prior to the closing of the transaction which is set for the second or third quarter of 2018, Athene will evaluate a range of potential debt financing alternatives, which the ... Read the full article
Athene enters pension risk transfer market with $320m deal
11th August 2017
Athene Holding Ltd., the life, retirement, annuity insurance and reinsurance group that is majority owned by investment giant Apollo, has entered the pension risk transfer space in the second-quarter of 2017. Athene entered into its first pension buy-out transaction during the quarter, with its Iowa life insurance subsidiary now set to ... Read the full article
Athene targets European run-off market following €2.2 billion capital raise
18th April 2017
Athene Holdings, the Bermuda based life, annuity and run-off reinsurance specialist, is making a concerted move to target the European run-off market with a €2.2 billion pot of capital raised for opportunities in the region. Athene said that a new Bermudian unit named AGER Bermuda Holding Ltd. (AGER) will be the ... Read the full article
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