Liberty Life Completes Reinsurance Transaction

December 20, 2011

Liberty Life Insurance Company today announced it had reinsured $3.1 billion of fixed annuities and similar liabilities. With the completion of this transaction, Liberty Life will have assets in excess of $7 billion. On a consolidated basis, Athene Holding Ltd., Liberty Life's Bermuda-based parent, will have assets of approximately $10 billion and equity of over $750 million.

"We continue to execute our plan to build a market-leading retirement savings company through organic growth, reinsurance and strategic acquisitions," said James R. Belardi, CEO of Athene Holding Ltd. "This reinsurance transaction, combined with the promising results we are seeing from our retail business, reflects the underlying strength of our business model."

About Liberty Life Insurance Company

Headquartered in Greenville, S.C., Liberty Life Insurance Co. provides income solutions that help Americans prepare for retirement. For over a century, Liberty Life has earned the trust of its policyholders through financial stability, integrity and service.

About Athene Holding Ltd.

Athene Holding Ltd.'s insurance subsidiaries are net investment spread businesses that fund themselves through retail sales of annuities and reinsurance in the U.S. retirement services market, and sales of institutional funding agreements. Athene supports its liabilities by investing in a diversified portfolio of highly-rated, liquid, fixed income securities. Athene's principal subsidiaries include Athene Life Re Ltd., a Bermuda-based reinsurer focused on the retirement services market; Liberty Life Insurance Company, a Delaware-domiciled stock life insurance company focused on retail sales and reinsurance; and Athene Life Insurance Company, an Indiana-domiciled stock life insurance company focused on the institutional funding agreement market.

Athene’s management team has many years of experience managing net investment spread businesses within life insurance companies. James R. Belardi, Chief Executive Officer of Athene Holding Ltd., previously served as President of SunAmerica Life Insurance Company and Executive Vice President and Chief Investment Officer of AIG Retirement Services.

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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.