Athene Life Re Ltd. (“ALRe”), a Bermuda-based reinsurance company, was incorporated in 2009 as a wholly owned subsidiary of Athene Holding Ltd. ("Athene Holding") and was its first operating company. ALRe’s core business is fixed annuity reinsurance, through which ALRe partners with life and annuity insurance companies to enhance their presence in the retirement market and improve their financial results.
Since its incorporation, ALRe has become a leader in the fixed annuity reinsurance market. The specific liabilities ALRe targets to reinsure include multi-year guarantee annuities ("MYGA"), fixed indexed annuities, traditional one-year guarantee fixed deferred annuities, immediate annuities and institutional products.
ALRe offers quota share reinsurance of future premiums (“flow reinsurance”) and reinsurance of blocks of existing business (“block reinsurance”), as well as product co-development services for new projects. Athene Holding and ALRe commenced operations in June of 2009 upon entering into two flow reinsurance agreements with a highly rated U.S. life insurance company.
ALRe is one of Bermuda’s largest annuity reinsurance companies as measured by capital base and received a rating of “A+” by S&P, Fitch, and A.M. Best. It also holds a long-term counterparty and financial strength rating of “A1” by Moody’s in 2022. Having now completed a number of transactions with multiple reinsurance counterparties, ALRe has served an important role in Athene Holding’s strategic development.
