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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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Athene Operating Subsidiaries Ratings

Three rating agencies meet annually with Athene to review and rate our performance. These ratings are independent opinions reflecting our ability to meet ongoing obligations to our customers.1

A.M. Best

“The company’s strong trend of earnings and organic capital growth has enabled AHL and its operating companies to strengthen their balance sheets while providing sufficient capital support for growth. Athene has demonstrated a consistent trend of strong profitability and sales growth. This includes recent pension risk transfer growth, solid fixed indexed annuity sales, and the announced acquisition of Voya Financial Inc.’s individual fixed and fixed indexed annuity business via reinsurance."
 

A.M. Best Press Release
April 18, 2018

A

Outlook: Stable

S&P

“We raised our ratings on Athene's core insurance operating subsidiaries to reflect the group's improved business diversification. Historically, Athene's business has been concentrated in retail annuities, which made up over 85% of deposits in 2014. Since then, management has successfully diversified into flow reinsurance and pension risk transfers (PRTs).”

 

S&P Press Release
August 16, 2018
 

A

Outlook: Stable

Fitch

"Athene's financial performance and balance sheet fundamentals remain in line with rating expectations. The company continues to maintain a leading position in the U.S. retail annuity market.

The revision in the Rating Outlook to Positive from Stable reflects Athene's improved business profile, which has benefited from the company's progress on diversifying sources of revenue, earnings, risk, and sustained strong operating performance.”

 

Fitch Press Release
May 10, 2018

A-

Outlook: Positive

Financial Highlights

$118.2

billion in
total assets2
$109.1

billion in total
GAAP liabilities2
$9.1

billion in total
GAAP equity3
$3.3

billion in
total deposits4
$100.6

billion in
invested assets2
~$2

billion in
excess capital3

Why Athene?

Strong track record since inception. Well-positioned for future growth.

  • Efficient and scalable platform
  • Strong balance sheet
  • Stable and significant base of earnings
  • Strong capitalization levels with a growing capital base
  • Experienced management team
    • 165 years of leadership experience
  •   Multiple distribution channels to source liabilities
    • Retail: #2 in fixed-indexed annuity sales5
    • Flow reinsurance: a leading reinsurer in the annuity industry
    • Funding agreements: third largest U.S. dollar denominated issuer in 2017
    • Pension risk transfer: in one year has become the #4 player in the marketplace6
    • M&A and block reinsurance: ability to consummate complex transactions
  • Robust risk management
  • Strong partnership with Apollo Global Management and Athene Asset Management

By the Numbers

  • 34,000 financial professionals
  • 1,100+ employees 
  • 815,000 policies in force

1 Financial strength ratings for Athene Annuity & Life Assurance Company, Athene Annuity and Life Company, Athene Annuity & Life Assurance Company of New York and Athene Life Re Ltd. S&P, A.M. Best and Fitch's credit ratings reflect their assessment of the relative ability of an insurer to meet its ongoing insurance policy and contract obligations. A.M. Best rating as of April 2018 (A, 3rd highest of 16), S&P rating as of August 2018 (A, 6th highest out of 21), and Fitch rating as of May 2018 (A-, 7th highest of 19).

2 As of September 30, 2018. Pledged assets and funds in trust (restricted assets) total $6.4 billion and total reserve liabilities of $98.4 billion as of September 30, 2018.

3 As of September 30, 2018.

The following financial information is presented for Athene Annuity & Life Assurance Company of New York (AANY), on a statutory basis, based on the financial statement of June 30, 2018:

 Total Admitted Assets: $3.14 billion
 Total Liabilities: $2.87 billion
 Reserves Required:

Direct: $2.65 billion
Ceded: $2.21 billion
Net: $440 million

Total Capital & Surplus: $273 million
Securities Pledged As Collateral: None

4 Organic deposits for the three months ended September 30, 2018.

5 LIMRA Secure Retirement Institute, U.S. Individual Annuity Industry Sales Report, second quarter 2018.

6 LIMRA Secure Retirement Institute, U.S. Group Annuity Risk Transfer Survey, fourth quarter 2017.

Institutions
The institutional channel includes reinsurance and group annuity contracts related to pension risk transfers.
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