Our Business

Athene issues, reinsures and acquires retirement savings products. Athene has developed dedicated distribution channels — retail, flow reinsurance, funding agreements and pension group annuities, 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, through its operating subsidiaries, serves customers in all 50 states, providing products in the retirement savings market, including fixed indexed annuity (FIA) and registered indexed linked annuity (RILA) products.

  • Athene is the #1 carrier in fixed indexed annuity sales1
  • We write capital-efficient FIAs, RILAs and Multi-Year Guaranteed Annuities
  • We are highly-rated — A.M. Best: A, S&P: A+, and Fitch: A2 — and our U.S. operating subsidiaries are licensed to distribute products in all 50 states
  • Our products are sold through independent marketing organizations and financial institutions

Reinsurance

Athene Life Re Ltd. a subsidiary of Athene Holding Ltd., is one of Bermuda’s largest annuity reinsurance companies, as measured by capital. 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 fixed indexed annuities, multi-year guaranteed annuities, payout annuities and funding agreements
  • Ability to structure reinsurance agreements with U.S.-based life insurance companies
  • Entered the Japanese market in 2020

Institutional

Funding Agreements

  • Athene opportunistically issues funding agreements to institutional investors
  • We generated $8.3 billion in new funding agreement3 deposits during 2020
  • As of December 31, 2020, we were the #2 issuer in funding agreement backed notes (FABN) with $5.3 billion issued across five different currencies

Pension Group Annuities (PGA)

  • Athene expanded into the pension group annuities market in 2017
  • As of December 31, 2020, Athene was the #1 U.S. PGA provider by volume4 with $5.5 billion in deposits
  • Athene had a record quarter for PGA activity in Q4 2020. We closed six transactions in Q4 totaling $4.2 billion

Acquisitions & Block Reinsurance

  • Athene has proven transaction expertise; a significant portion of our growth has come from acquisitions of and block reinsurance transactions with other insurance companies
  • Our financial strength, capital position and ability to structure innovative solutions for the insurance industry has made us one of the go-to partners in the industry
  • Our management team’s long-standing industry experience and 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 numerous block reinsurance transactions and several acquisitions of well-established companies in the annuity business (see table below)
  • Athene acts as a capital solution provider to the industry
  • Our strategic capital vehicle, Athene Co-Invest Reinsurance Affiliate provides on-demand, third-party equity capital enabling us to execute across our business channels to support organic and inorganic growth
  • Through our efficient corporate structure and operations, we believe we have a built a cost-effective platform to support our growth opportunities
  • We remain well-positioned for continued profitable growth

Close Date Company Transaction Type
April 2011 Liberty Life Insurance Company (LLIC) Acquisition 
July 2011 Investors Insurance Company Acquisition
December 2012 Presidential Life Insurance Company Acquisition
October 2013 Aviva USA Acquisition
December 2017 Voya Financial Block Reinsurance
December 2018 Lincoln Financial Group Block Reinsurance
June 2020 Jackson National Life Insurance Company Block Reinsurance
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Institutions
The institutional channel includes reinsurance and group annuity contracts related to pension risk transfers.
Reinsurance Pension Risk Transfer (PRT)
Investors
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Annuities contain features, exclusions and limitations that vary by state. For a full explanation of an annuity, please refer to the Certificate of Disclosure or Prospectus (as applicable) and contact your financial professional or the company for costs and complete details. This material is a general description intended for general public use. 

Annuity contracts and group annuity contracts are issued by Athene Annuity and Life Company (61689), West Des Moines, IA, and Athene Annuity & Life Assurance Company (61492), Wilmington, Delaware, in all states (except New York), and in D.C. and PR. Annuity contracts and group annuity contracts are issued by Athene Annuity & Life Assurance Company of New York (68039), Pearl River, NY, in New York state. Payment obligations and guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Insurance products may not be available in all states. These companies are not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. This material should not be interpreted as a recommendation by Athene Annuity and Life Company, Athene Annuity & Life Assurance Company, Athene Annuity & Life Assurance Company of New York, or Athene Securities, LLC. Please reach out to your financial professional if you have any questions about insurance products and their features.

The term “financial professional” is not intended to imply engagement in an advisory business with compensation unrelated to sales. Financial professionals will be paid a commission on the sale of an annuity.

ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY FDIC OR NCUA/NCUSIF. MAY LOSE VALUE. NO BANK/CREDIT UNION GUARANTEE. NOT A DEPOSIT. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT.

Reinsurance contracts are entered into with Athene Annuity and Life Company (61689), West Des Moines, IA; Athene Annuity & Life Assurance Company (61492), Wilmington, Delaware; Athene Annuity & Life Assurance Company of New York (68039), Pearl River, NY; and Athene Life Re Ltd., Hamilton, Bermuda. Not all reinsurance products or structures offered are available in all jurisdictions. Reinsurers may not be licensed in all states. All transactions are subject to meeting a reinsurer’s underwriting requirements. Reinsurance products are not protected or guaranteed by state insurance guaranty associations or insolvency funds.