Athene Holding Ltd. ("Athene Holding," and together with its subsidiaries, "Athene") today announced it has agreed to enhanced policyholder protections with the New York Department of Financial Services ("NYDFS") in its planned acquisition of Aviva Life & Annuity Company of New York ("ALACNY"), the New York-domiciled subsidiary of Aviva USA Corporation.
Athene Chief Executive Officer Jim Belardi said: "Athene is pleased to establish these enhanced policyholder protection agreements with the NYDFS. We continue to work toward completing our acquisition of ALACNY and its parent company, Aviva USA. We have worked closely with the NYDFS to come to these agreements and look forward to working with them in the future as we close our acquisition."
Athene Holding's acquisition of Aviva USA is expected to close in early fourth quarter of 2013.
Athene Holding is owned by several large institutional investors, with its largest shareholder being AP Alternative Assets, L.P., (Euronext: AAA) a closed-end, publicly traded permanent capital vehicle established by Apollo Global Management, LLC, a leading alternative investment manager.
About Athene Holding Ltd.
Athene Holding, through its subsidiaries, is a leading provider of products in the retirement savings market. Athene's principal subsidiaries include Athene Annuity & Life Assurance Company, a Delaware-domiciled insurance company, Athene Life Insurance Company, a Delaware-domiciled insurance company, Presidential Life Insurance Company, a New York-domiciled insurance company, and Athene Life Re Ltd., a Bermuda-based reinsurer.
Athene Holding was formed to provide solutions to the growing need for tax efficient savings vehicles to support retiring baby boomers. The products offered by Athene include:
- Retail fixed and equity indexed annuity products
- Institutional products, such as funding agreements
- Co-insurance and reinsurance arrangements with third party life insurance and annuity providers
Athene had $14.8 billion of assets and $1.9 billion of shareholder's equity (ex-AOCI) as of June 30, 2013 on a GAAP management view basis. Find more information about Athene's financials here.
Further information about our companies can be found at www.athene.com.