Athene Holding Ltd. (Athene) is a $86 billion in GAAP1 (and $59.9 in invested assets)2 insurance holding company whose operating subsidiaries’3 business is primarily issuing and reinsuring retirement savings products, including fixed annuities and funding agreements. Founded in 2009 by James Belardi, former President of SunAmerica Life Insurance Company and now CEO of Athene Holding Ltd., and Chip Gillis, former head of Bear Stearns’ Insurance Solutions Group and now CEO of Athene Life Re, Athene provides individuals and institutions with innovative financial solutions for their retirement savings and investment needs.
What Drives Us
We are a company driven to do more and never satisfied with the status quo. Drive. Discipline. Confidence. Focus. Commitment. These are the attributes that set Athene apart and establish us as an industry leader. “We formed Athene based on the fundamentals that I had learned working for 20 years at SunAmerica,” stated Jim Belardi, Athene’s CEO:
- A net investment spread business focused on policyholder protection
- Disciplined risk management based on managing interest rate, liquidity, capital and option risks in current and stressed scenarios
- Hiring smart, focused, achievement-oriented employees
- A high quality, liquid, fixed income asset portfolio matched against long-term, low-cost retirement savings liabilities
Our well-capitalized subsidiaries drive growth for Athene through multiple funding channels. Our operating subsidiaries’ primary business is issuing, reinsuring and acquiring retirement savings products and similar liabilities through four channels:
- Retail Distribution of Annuity Products
- Funding Agreements and Funding Agreement-Backed Notes
- Mergers & Acquisitions
With one of the industry’s most experienced management teams, Athene and its subsidiaries have grown from a startup in 2009 to $86 billion in GAAP assets1 and $59.9 billion in invested assets2. With our company’s history of over 100 years of combined experience behind us, we expect our upward trajectory to continue.
Athene is relentless when it comes to creating innovative financial solutions and building the best team to serve our shareholders and policyholders. Our focus is to be the best, not necessarily the biggest, retirement savings company. And, the best is yet to come.
1. As of December 31, 2014, Athene Holding had GAAP assets of $80.6 billion. Athene acquired Delta Lloyd Deutschland (DLD) on October 1, 2015. As of December 31, 2014, DLD had total GAAP assets of $6 billion, bringing Athene’s total GAAP assets to approximately $86.6 billion after the acquisition closed.
2. Invested assets do not correspond to total assets on the consolidated financial statements as they represent the investments that directly back our policyholder liabilities and surplus assets. Invested assets are defined as the sum of (a) total investments on the consolidated balance sheet with AFS securities at amortized cost excluding derivatives, (b) cash and cash equivalents and restricted cash, (c) investments in related parties, (d) accrued investment income, (e) the consolidated variable interest entities’ assets, liabilities and noncontrolling interest and (f) policy loans ceded (which offset the direct policy loans in total investments). Invested assets also exclude assets associated with funds withheld liabilities related to business exited through reinsurance agreements and derivative collateral (offsetting the related cash positions). We include the underlying investments supporting our assumed funds withheld and modified coinsurance agreements in our invested assets calculation in order to match the assets with the income received. As of December 31, 2014.
3. Athene Annuity & Life Assurance Company, Wilmington, DE, and Athene Annuity and Life Company, West Des Moines, IA, issue annuities in all states except New York. Athene Annuity & Life Assurance Company of New York and Athene Life Insurance Company of New York, both in Nyack, NY, are licensed to do business in the state of New York. The individual subsidiary insurance company is responsible for meeting its ongoing insurance policy and contract obligations. Athene Holding Ltd is not responsible for meeting the ongoing insurance policy and contract obligations of its subsidiary insurance companies.