Athene Holding Ltd. announces agreement with NY Department of Financial Services on enhanced policyholder protections with respect to acquisition of Aviva Life & Annuity Company of NY

PEMBROKE, BERMUDA

August 14, 2013

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.

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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.

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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.