Financial strength. Deep experience. Driven to outperform.

Pension plan liabilities have become increasingly difficult for companies to manage in today’s market and regulatory environment. Plan buyouts totaled $48.34 billion and $41.35 billion in 2022 and 2023 respectively, representing a significant increase over prior years. As a leader in innovative solutions for pension risk mitigation, Athene is well equipped to be your partner at any stage of the plan termination process.

A proven track record of execution

More than 560,000 plan participants

  47 transactions completed1


$51.8 billion in transaction value1

The Benefits of Pension Group Annuities to U.S. Retirees

American companies and U.S. retirees are facing a pension crisis. Athene is well suited to help these companies due to our financial strength and expertise on managing retirement obligations. Read how pension group annuities can help companies de-risk while maintaining retirees' benefits.

Uniquely positioned to be your solutions provider

At Athene, we pride ourselves on our ability to deliver individually tailored solutions that outperform for plan sponsors, administrators and participants. Our confidence is driven by a singular blend of strength, experience and expertise.

  • Strong, with a core focus on the retirement services market

    Rated “A+” by S&P, and Fitch, "A" by A.M. Best and "A1" by Moody's2, Athene is an experienced manager of insurance liabilities and the assets that support them. We’ve been a leader in PRT volumes for the last 6 years3. Our strong financial performance is driven by our multi-channel business model, prudent risk management, and ability to maintain differentiated capabilities on both sides of the balance sheet. Providing our customers the means to a financially secure retirement is the exclusive focus of our business.

  • A high quality, well diversified investment portfolio

    At Athene, fixed annuities are our focus. Our spread-based business is managed by a seasoned leadership team with deep experience in a variety of market environments. As of December 31, 2023, ~97% of our $148 billion available for sale fixed maturity portfolio was designated NAIC 1 or 2.

  • Deep experience in pension group annuities

    Athene has a team of fully dedicated PGA specialists with extensive experience in transaction management, asset management, operations and administration. Our capabilities allow us to deliver a full spectrum of innovative, holistic pension group annuities solutions that ensure the financial security of plan participants.

  • Certainty, focus and speed

    We have the resources, experience and management expertise to successfully design, execute and close transactions on your timeline. We work closely with counterparties to achieve mutual goals and then follow through on our commitments.

  • Exceptional service capabilities

    When your plan participants become members of the Athene family, they will have access to an online benefit center and a premier call center. We have a proven track record for pension group annuities and are committed to delivering outstanding customer service.

Thought leaders in a complex and evolving market

Plan sponsors seek de-risking solutions that meet their unique needs. At Athene, we combine deep industry experience with a relentless focus on new ideas that shape the pension risk transfer landscape.

Today’s Insights

  • Optimizing PGA timing and execution

    Pension group annuity transaction timing is always important, which is true now more than ever. Discover how ongoing monitoring and analysis of the pricing environment may result in even more value during this period of market volatility than during periods of relative stability.

    As a result, plan sponsors who decide to move forward with pension risk transfer exercises should also consider incorporating price monitoring into the transaction process.

  • The multi-million dollar opportunity for pension plan sponsors
    Until recently, the pension group annuity (PGA) market was comprised mostly of small transactions resulting from plan terminations, and insurer pricing deviations were often financially immaterial to plan sponsors. While the typical transaction process of selecting a final “auction date” months in advance can be considered appropriate under those circumstances, in the case of the large, discretionary transactions that are common today it may result in plan sponsors leaving substantial money on the table. Analysis by Athene suggests that a transaction process that includes ongoing price monitoring can lead to more successful outcomes.
  • The case for annuity buy-ins
    Are annuity buy-ins finally taking off in United States? This historically underutilized pension risk management solution is the perfect hedge to market and insurer capacity risks. It gives plan sponsors the opportunity to de-risk now, while providing the flexibility to convert to a buy-out later at little, or no, additional cost. A plan sponsor can use a buy-in to lock-in pricing and reduce exposure to these risks during the extended period of time involved in a plan termination process.

Discover the benefits of a group annuity provider that’s driven to do more by contacting us at

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


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.