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Athene Holding Ltd. (Athene) is a leading retirement services company that issues, reinsures, and acquires retirement savings products.

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Our Business

Athene Holding Ltd.’s (Athene) insurance subsidiaries issue, reinsure and acquire retirement savings products. Athene has developed four dedicated distribution channels — retail, flow reinsurance, institutional products, such as funding agreements and pension risk transfer transactions, and acquisitions and block reinsurance — which support origination across differing market environments and which enable Athene to achieve stable asset growth while maintaining attractive returns.

Retail

Athene USA, the #2 carrier in fixed indexed annuity sales1, serves as the U.S. holding company for Athene’s annuity operations in the United States. Headquartered in West Des Moines, Iowa, Athene USA’s insurance subsidiaries serve customers in all 50 states, providing products in the retirement savings market including fixed indexed annuity products.

  • We write capital-efficient fixed indexed annuities (FIAs) and Multi-Year Guaranteed Annuities (MYGAs)
  • Our highly-rated U.S. platforms — A.M. Best: A (excellent) stable outlook, S&P: A- (strong) positive outlook and Fitch: A- (strong) positive outlook2 — are licensed to distribute products in all 50 states
  • Our products are sold through independent marketing organizations and financial institutions
     

Athene USA’s insurance subsidiaries include:
 

  • Athene Annuity and Life Company, an Iowa domiciled company, formerly known as Aviva Life and Annuity Company, that issues annuities
  • Athene Annuity & Life Assurance Company, a Delaware-domiciled company, formerly known as Liberty Life Insurance Company, that issues institutional products
  • Athene Annuity & Life Assurance Company of New York, a New York-licensed insurance company, formerly known as Presidential Life Insurance Company, that issues annuities

Reinsurance

Athene Life Re Ltd. (“Athene Life Re”), a subsidiary of Athene Holding Ltd., is one of Bermuda’s largest annuity reinsurance companies, as measured by capital. Incorporated in 2009, Athene Life Re’s core business is fixed annuity reinsurance, partnering with primary life and annuity insurance companies to find solutions to their corporate needs.

  • Reinsures FIAs, MYGAs, payout annuities and funding agreements
  • Ability to structure reinsurance agreements with U.S.-based life insurance companies

Institutional

Funding Agreements

  • Athene opportunistically issues funding agreements to institutional investors
  • In 2017, we were the third largest U.S. dollar denominated issuer of funding agreements in connection with funding agreements backed note (FABN) program
  • We generated $3 billion in new funding agreement deposits during 2017

Pension Risk Transfer (PRT)

  • Athene expanded into the pension risk transfer market in 2016
  • For the full year 2017, Athene generated $2.3 billion in new PRT deposits
  • In just one year, we went from being the new entrant in the marketplace to the #4 player3

Mergers & Acquisitions

  • Athene has proven transaction expertise; we have completed several strategic transactions since inception
  • We seek attractive growth opportunities available across geographies and products
  • Our management team’s long-standing industry relationships provide a competitive sourcing advantage
    • Athene has a proven record of working constructively to gain transaction approval
    • We are able to underwrite meaningful operational synergies
  • Since our inception, we have completed several acquisitions of well-established companies with long and proud histories in the annuity business (see table below). In each case, we built upon the solid reputations of these companies to form the company that Athene is today. We also strengthened many areas, aligned operations where appropriate and introduced new products and services that distinguish the Athene brand.
  • In December 2017, Athene announced a $19 billion block reinsurance transaction with Voya Financial. 
Date Acquired Company Location Current Athene Name Former Parent Company
April 2011 Liberty Life Insurance Company (LLIC) South Carolina Athene Annuity & Life Assurance Company Royal Bank of Canada
July 2011 Investors Insurance Company Delaware (merged into LLIC) SCOR / France
December 2012 Presidential Life Insurance Company New York Athene Annuity & Life Assurance Company of NY Public Company / USA
October 2013 Aviva USA Iowa Athene Annuity and Life Company Aviva plc / UK
October 2015 Delta Lloyd Deutschland AG4 Germany Athene Lebensversicherung Delta Lloyd L.V. / Netherlands
Institutions
The institutional channel includes reinsurance and group annuity contracts related to pension risk transfers.
Reinsurance Pension Risk Transfer (PRT)
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