The Company

Athene was co-founded by James Belardi, former President of SunAmerica Life Insurance Company and now CEO of Athene Holding Ltd., Chip Gillis, former head of Bear Stearns’ Insurance Solutions Group and former CEO of Athene Life Re Ltd., and Apollo Global Management.

Athene focuses on retirement savings solutions and has deep expertise in the long-term management of retirement benefits. 

Our management team leverages 165+ years of combined experience to create opportunities in today’s evolving retirement marketplace for the growing number of individuals nearing retirement. 

“We formed Athene based on the fundamentals that I had learned working for 20 years at SunAmerica.”

Jim Belardi 
CEO, Athene Holding

What Drives Us

We are a company driven to do more and never satisfied with the status quo. Drive. Discipline. Confidence. Focus. Commitment. These are the attributes that set Athene apart and establish us as an industry leader.

  • A net investment spread business focused on policyholder protection
  • Disciplined risk management based on managing interest rate, credit and equity risks as well as liquidity in current and stressed scenarios
  • Hiring smart, focused, achievement-oriented employees
  • A high quality, liquid, fixed income asset portfolio together with long-term, low-cost retirement savings liabilities

Our Approach

Our U.S. operating subsidiaries’1 primary business is issuing, reinsuring and acquiring retirement savings products and similar liabilities through our multiple organic and inorganic distribution channels:

  1. Retail
  2. Flow Reinsurance
  3. Funding Agreements 
  4. Pension Risk Transfer
  5. Acquisitions and Block Reinsurance Transactions

Performance

Athene has grown from a start up to a premier provider of retirement savings solutions for individuals and institutions, with $269.8 billion in total GAAP assets2,  $255.7 billion in total GAAP liabilities2, $8.5 billion in total GAAP AHL shareholders’ equity2 and $208.1billion in net invested assets.3

Reaching Higher

We are relentless when it comes to creating innovative financial solutions and building a strong team to serve our policyholders and our communities. We are committed to a high level of performance, which is reflected in our brand tagline, “Driven to Do More.”

The Power of Partnership

Athene is part of Apollo, a high-growth, global alternative asset manager. Apollo’s expertise in retirement services asset management gives us a competitive advantage through its alpha-generating portfolio management, asset origination and structuring, M&A sourcing, and operational support. 

As one company, we are stronger, more credit-worthy and capable of more together. We believe the stronger capital base and complete alignment will allow us to rapidly scale asset and liability origination, broaden distribution channels and act as a leading global solutions provider. 
 

Asset Manager

Athene's invested assets are managed by, Apollo Insurance Solutions Group (AISG). AISG specializes in investment solutions for the insurance industry.

AISG is a value-oriented investor in corporate credit, private placement, real estate and alternative investments. AISG has the ability to meet varied objectives, such as asset liability management support, income generation and risk-based capital investing. AISG has applied this approach consistently since inception, deploying capital across asset classes.

1 Athene Annuity & Life Assurance Company, a Wilmington, Delaware-domiciled company, and Athene Annuity and Life Company, a West Des Moines, Iowa-domiciled company, issue annuities in all states except New York. Athene Annuity & Life Assurance Company of New York in Pearl River, NY, is licensed to do business in the state of New York. Each insurance subsidiary is responsible for meeting its ongoing insurance policy and contract obligations. Athene Holding Ltd. is not responsible for meeting the ongoing insurance policy and contract obligations of its subsidiary insurance companies.

2 Athene Holding Ltd. GAAP total assets as of September 30, 2023. Pledged assets and funds in trust (restricted assets) total $37.2 billion and net reserve liabilities of $185.7 billion as of September 30, 2023. 

3 As of September 30, 2023. In managing our business, we analyze net invested assets, which does not correspond to total investments, including investments in related parties, as disclosed in our consolidated financial statements and notes thereto. Net invested assets represent the investments that directly back our net reserve liabilities as well as surplus assets. Net invested assets is used in the computation of net investment earned rate, which allows us to analyze the profitability of our investment portfolio. Net invested assets include (a) total investments on the consolidated balance sheets, with AFS securities, trading securities and mortgage loans at cost or amortized cost, excluding derivatives, (b) cash and cash equivalents and restricted cash, (c) investments in related parties, (d) accrued investment income, (e) VIE assets, liabilities and noncontrolling interest adjustments, (f) net investment payables and receivables, (g) policy loans ceded (which offset the direct policy loans in total investments) and (h) an adjustment for the allowance for credit losses. Net invested assets exclude assets associated with funds withheld liabilities related to business exited through reinsurance agreements and derivative collateral (offsetting the related cash positions). We include the underlying investments supporting our assumed funds withheld and modco agreements in our net invested assets calculation in order to match the assets with the income received. We believe the adjustments for reinsurance provide a view of the assets for which we have economic exposure. Net invested assets include our proportionate share of ACRA investments, based on our economic ownership, but do not include the proportionate share of investments associated with the noncontrolling interests. Our net invested assets are averaged over the number of quarters in the relevant period to compute our net investment earned rate for such period. While we believe net invested assets is a meaningful financial metric and enhances our understanding of the underlying drivers of our investment portfolio, it should not be used as a substitute for total investments, including related parties, presented under US GAAP. 

The following financial information is presented for Athene Annuity & Life Assurance Company of New York (AANY), on a statutory basis, based on the financial statement as of September 30, 2023.  

Total Admitted Assets: $4.92 billion 
Total Liabilities: $4.64 billion 
Reserves Required:      

Direct: $2.93 billion 
Ceded: $2.51 billion 
Net: $428 million 

Total Capital & Surplus: $278 million 
Securities Pledged As Collateral (Cash): $3.28 million 

The following financial information is presented for Athene Annuity and Life Company (AAIA), on a statutory basis, based on the financial statement as of September 30, 2023.  

Total Admitted Assets:  $178.99 billion 
Total Liabilities: $177.01 billion 
Reserves Required:                  

Direct: $117.03 billion 
Assumed: $1.41 billion 
Ceded: $17.50 billion 
Net: $100.94 billion 

Capital & Surplus:                     

Common capital stock: $0.01 billion
Paid-in and contributed surplus: $3.93 billion
Unassigned surplus: $(1.96) billion 

Total Capital & Surplus: $1.98 billion 

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Institutions
The institutional channel includes reinsurance and group annuity contracts related to pension group annuities.
Reinsurance Pension Group Annuities (PGA) Investors Privacy Legal

Annuities contain features, exclusions, limitations and availability that may vary by state and/or sales distributor. 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.

INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, THE BANK OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED

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; Athene Life Re Ltd., Hamilton, Bermuda; and Athene Annuity 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.