Athene Announces $4.9B Pension Risk Transfer - InsuranceNewsNet to A news release . Athene USA Since Athene's entry into the U.S. pension risk transfer market in 2017, we have now successfully completed over 30 annuity placements totaling over $27B in group annuity sales. Athene Holding to pay $45 million over pension risk transfer violations Key goals of the internship include an introduction to US Pension Risk Transfer team responsibilities and development of a broad understanding of the company's strategic growth initiatives in the PRT market. Athene, through its subsidiaries, is a leading retirement services We do not undertake any obligation to update or revise pension risk transfers. Athene is a leader within the pension risk transfer industry, partnering with plan sponsors and intermediaries on more than $16 billion of transactions to support more than 275,000 annuitants . Athene is a leader in the pension risk transfer industry, managing Under the agreement, AAIA and AANY have each committed to issuing a group annuity contract to JCPenney and individual annuity certificates to applicable participants. 1All references to JCPenney refer to the company now known as COPPER Sub Corporation, Inc. About Athene Athene Holding Ltd. (NYSE: ATH), through its subsidiaries ("Athene"), is a leading financial services company with total assets of $202.8 billion as of December 31, 2020 and operations in the United States, Bermuda, and Canada. The key to achieving emotional and financial well-being in retirement is preparation. This pension de-risking transfer affects some 18,000 participants of . Athene is a leader within the pension risk transfer industry, partnering with plan sponsors and intermediaries on more than $18.5 billion of transactions to support more than 300,000 annuitants since entering the market. New York State Issues Pension Risk Transfer Fine - ThinkAdvisor The institutional channel includes reinsurance and group annuity contracts related results. American companies and U.S. retirees are facing a pension crisis. At Athene, were always reaching higher so you retire better. failures; the continued availability of capital; new accounting rules or A pension risk transfer occurs when a company eliminates some or all of its pension benefit obligations for financial reasons. Pension de-risking is any action taken by a defined benefit plan (Plan) sponsor to reduce a plan sponsor's exposure to its pension liabilities. Further information about our companies can be found at www.athene.com. Athene Announces Pension Buyout Agreement With Armstrong World Under the agreement, Athenes wholly-owned Iowa-domiciled life insurance "We are pleased to serve as a trusted partner to JCPenney in providing retirement security to its retirees and their beneficiaries," said Sean Brennan, EVP of Pension Risk Transfer and Flow Reinsurance at Athene. Athene | Retirement Services | Leading Annuity Provider | May 29, 2022 Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words believes, expects, intends, anticipates, plans, seeks, estimates, projects, may, will, could, might, or continues or similar expressions. Use these resources to help you make your next life your best life. 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. "Our ability to structure innovative solutions combined with our differentiated investment, actuarial, risk management, operational capabilities, and strong balance sheet leaves Athene uniquely positioned to serve the multi-trillion-dollar defined benefit marketplace.". Retail fixed, fixed indexed and index-linked annuity products; Reinsurance arrangements with third-party annuity providers; and. estimates, projects, may, will, could, might, or continues "Unlicensed insurance activity puts retirement assets at risk, and that's why we won't tolerate it." As part of its agreement with the department, Athene will transfer the handling of. Providing our customers the means to a financially secure retirement is the exclusive focus of our business. HAMILTON, Bermuda, April 1, 2021 /PRNewswire/ -- Athene Holding Ltd. ("Athene") (NYSE: ATH), a leading financial services company specializing in retirement services, announced the close of a significant pension risk transfer transaction in connection with JCPenney's 1 pension plan termination. Please reach out to your financial professional if you have any questions about insurance products and their features. The following conversation was edited for clarity. Athene Announces Significant Pension Buyout Agreement With GE Company, an Iowa-domiciled insurance company, Athene Annuity & Life NEW YORK--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE: BMY) today announced it will transfer $3.8 billion of U.S. pension obligations through a full termination of its U.S. Retirement Income Plan (the "Plan").The obligations will be distributed through a combination of lump sums to Plan participants who elect such payments, and the purchase of a group annuity contract from Athene . Lockheed Martin Transfers $4.9 Billion to Athene These statements are based on the beliefs and assumptions of Athene's management and the management of Athene's subsidiaries. Plan sponsors seek de-risking solutions that meet their unique needs. Athene doubles pension risk transfer deals - Royal Gazette As of June 30, 2022, ~96% of our available for sale fixed maturity portfolio was designated NAIC 1 or 2. believes, expects, intends, anticipates, plans, seeks, HAMILTON, Bermuda, April 1, 2021 /PRNewswire/ -- Athene Holding Ltd. ("Athene") (NYSE: ATH), a leading financial services company specializing in retirement services, announced the close of a significant pension risk transfer transaction in connection with JCPenney's1 pension plan termination. Under the terms of the transaction, Lockheed Martin transferred $4.9 billion in pension obligations to Athene. Athene : Completes Pension Risk Transfer Transaction with Lockheed Athene Completes Significant Pension Risk Transfer Transaction with Further information about our companies can be found at athene.com. At Athene, fixed annuities are our focus. MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT. Athene is a leader within the pension risk transfer industry, partnering with plan sponsors and intermediaries on more than $18.5 billion of transactions to support more than 300,000. ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY FDIC OR NCUA/NCUSIF. Alcoa buys 2 annuities from Athene to transfer $1 billion in U.S Q&A with Athene: Pension Plan Funding Has Reached an Inflection Point - Considerations for Larger Plan Sponsors February 2022 Richard McEvoy , Senior Vice President and Pension Group Annuity Leader at Athene shared his thoughts on prevalent tailwinds for Pension Risk Transfer and how the market has adapted in recent years to accommodate . Athene Takes over Pension Liabilities from JC Penney AAIAs annuity contract will cover as much as $3.8 billion of remaining Includes a recently completed funded reinsurance transaction with a U.K. company. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. Reinsurance News Athene enters pension risk transfer market with $320m deal 11th August 2017 - Author: Steve Evans Athene Holding Ltd., the life, retirement, annuity insurance and reinsurance group that is majority owned by investment giant Apollo, has entered the pension risk transfer space in the second-quarter of 2017. Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," or "continues" or similar expressions. In a typical pension risk transfer, a life . Financial services company Athene has closed a significant pension risk transfer (PRT) transaction with Lockheed Martin involving the transfer of $4.9 billion in pension obligations. View source version on businesswire.com: https://www.businesswire.com/news/home/20181203005997/en/, Athene Holding Ltd.MediaKaren Lynn+1 441 For New York residents, contracts are issued by Athene Annuity & Life Assurance Company of New York, Pearl River, NY. "We are pleased to have again been . January 06, 2020 09:00 AM Eastern Standard Time. 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. Pension Group Annuities | Athene could cause actual results, events and developments to differ materially participants do not elect to receive a lump sum payment. Lockheed Martin Corp. is using group annuities from The Prudential Insurance Company of America and Athene Annuity and Life Company to transfer about $2.6 billion in pension . Athene led the way in 2021. from 8 AM - 9 PM ET. Athene Completes Pension Risk Transfer Transaction with Lockheed Martin differentiated investment, actuarial, risk-management, and operational Such statements are subject to risks and uncertainties that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. Innovative strategies and custom-tailored de-risking solutions for plan sponsors. The institutional channel includes reinsurance and group annuity contracts related Pension risk transfer can be a complicated endeavor. It's a great time for you to join one of the leading retirement services companies. YouTube Athene is a leader within the pension risk transfer industry, partnering with plan sponsors and intermediaries on more than $18.5 billion of transactions to support more than 300,000. McCormick Lavery+1 609 252 7602lisa.mccormicklavery@bms.com, Investors:Tim Power+1 609 252 7509timothy.power@bms.comORBill management and the management of Athene's subsidiaries. By Allison Bell. At Athene, we combine deep industry experience with a relentless focus on new ideas that shape the pension risk transfer landscape. and financial objectives while ensuring the financial security of their This year alone we have closed on more than twice the volume we closed on in all of 2018 all with attractive targeted returns. Athene is a leader within the pension risk transfer industry, partnering with plan sponsors and intermediaries on more than $19 billion of transactions to support more than 300,000. Athene's subsidiaries, Athene Annuity Life Company and Athene Annuity & Life Assurance Co. of New York, will provide a group annuity to about 18,000 Lockheed Martin retirees currently receiving pension benefits. Athene is well-positioned to provide plan sponsors with customized solutions that achieve their desired objectives while ensuring the financial security of their plan participants," said Bill Wheeler, President of Athene. Athene Announces $4.9 Billion Pension Risk Transfer Transaction with forward-looking statements include actions, events, results, strategies representatives from time to time may contain, forward-looking pension risk transfers. Athene Closes $6 Billion in Pension Risk Transfer Transactions During 2019, https://www.businesswire.com/news/home/20200106005578/en/. Athene Announces $4.9 Billion Pension Risk Transfer Transaction - Wink Athene enters pension risk transfer market with $320m deal 2Financial strength ratings for Athene Annuity & Life Assurance Company, Athene Annuity and Life Company, Athene Annuity & Life Assurance Company of New York and Athene Life Re Ltd. S&P, Fitch, A.M. Bests and Moodys credit ratings reflect their assessment of the relative ability of an insurer to meet its ongoing insurance policy and contract obligations. In these transactions, the pension providers will generally transfer assets to a life insurer, for which the insurer assumes the annuity risk for . Athene Completes Pension Risk Transfer Transaction with - Nasdaq Insurance products may not be available in all states. Two of Athene's wholly owned subsidiaries, Athene Annuity and [] Lockheed Martin transferred $4.9 billion in pension obligations to two of Bermuda based Athene's subsidiaries, Athene Annuity and Life Company and Athene Annuity & Life Assurance Company of New York. Board of Directors & Executive Team | Athene The transaction announced today is the second pension risk transfer transaction Lockheed Martin has signed with Athene, following a transaction in 2018 whereby Athene insured approximately $800 million in pension obligations for more than 9,000 of Lockheed Martin's retirees and their beneficiaries. In early April, Athene Holding took over $2.8 Billion of JC Penney's pension obligations, completing the termination of JCPenney's pension plan. do not need to take any action at this time. Athene secures $4.9bn pension risk transfer with Lockheed Martin PEMBROKE, Bermuda--(BUSINESS WIRE)-- The regulator noted that Athene Annuity & Life entered into 14 pension risk transfer transactions and engaged in thousands of unauthorized communications with New York-based . The New York State Department of Financial Services (DFS) uncovered that Athene solicited and did insurance business in New York without a license. Athene Announces $4.9 Billion Pension Risk Transfer Transaction with Not all reinsurance products or structures offered are available in all jurisdictions. Plan participants have received information packages and This press release contains, and certain oral statements made by our Pension risk transfer deals off to solid start in 2022 capabilities, combined with our strong balance sheet, position us well is to discover, develop and deliver innovative medicines that help Just What Is Pension De-Risking? patients prevail over serious diseases. 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. seeking to fund retirement needs. Subsequent to Athene is a leader in the pension risk transfer industry, responsible for providing income security for more than 90,000 annuitants. covering more than 24,000 active employee participants, retirees, Today's Insights Optimizing PGA timing and execution Pension group annuity transaction timing is always important, which is true now more than ever. All transactions are subject to meeting a reinsurers underwriting requirements. JCPenney Transfers $2.8 Billion in Pension Obligations to Athene All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Athene completes PRT transaction with JCPenney Pension De-Risking Report - Retirees for Justice With the assistance of multiple pension termination experts, we reached an agreement with Athene Holding Ltd. to purchase annuities for all pension plan participants in conjunction with the plan termination,"said Steve Whaley, Chair of the Benefit Plan Investment Committee of J. C. Penney Corporation, Inc. "Pension risk transfer is an attractive solution for plan sponsors interested in a plan termination, including those going through a company restructuring. Read how pension group annuities can help companies de-risk while maintaining retirees' benefits. --Athene Holding Ltd., a leading financial services company specializing in retirement solutions, announced the close of a significant pension risk transfer transaction with Lockheed. Factors that could cause actual results, events and developments to differ include, without limitation: the accuracy of Athenes assumptions and estimates; Athenes ability to maintain or improve financial strength ratings; Athenes ability to manage its business in a highly regulated industry; regulatory changes or actions; the impact of Athenes reinsurers failing to meet their assumed obligations; the impact of interest rate fluctuations; changes in the federal income tax laws and regulations; the accuracy of Athenes interpretation of the Tax Cuts and Jobs Act, litigation (including class action litigation), enforcement investigations or regulatory scrutiny; the performance of third parties; the loss of key personnel; telecommunication, information technology and other operational systems failures; the continued availability of capital; new accounting rules or changes to existing accounting rules; general economic conditions; Athenes ability to protect its intellectual property; the ability to maintain or obtain approval of the Delaware Department of Insurance, the Iowa Insurance Division and other regulatory authorities as required for Athenes operations; and other factors discussed from time to time in Athene's filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2018, and its quarterly report on Form 10-Q for the quarterly period ended September 30, 2019, which can be found at the SECs website www.sec.gov.