Athene Announces Block Reinsurance Transaction with Lincoln Financial Group and New Share Repurchase Authorization
Athene Holding Ltd. Class A Common Shares (ATH)
Last athene holding ltd. class a common shares earnings: 2/18 07:00 am
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US:NYSE Investor Relations:
ir.athene.com
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Source: Business Wire
PEMBROKE, Bermuda--(BUSINESS WIRE)-- Athene Holding, Ltd. (“Athene”) (NYSE: ATH), a leading provider of retirement services products, has announced nearly $1 billion of combined capital deployment through a block reinsurance transaction with Lincoln Financial Group and a new share repurchase authorization. Block Reinsurance Transaction with Lincoln Financial Group Athene’s subsidiary, Athene Life Re Ltd. (“ALRe”), has entered into a reinsurance agreement with The Lincoln National Life Insurance Company (“Lincoln”), a subsidiary of Lincoln Financial Group (NYSE: LNC). Under the agreement, ALRe agreed to reinsure an 80% quota share of a $9.6 billion in-force block of fixed deferred and fixed indexed annuities on a modified coinsurance basis. In total, approximately $7.7 billion of statutory reserves will be ceded to ALRe, supported by a diversified portfolio of assets. Lincoln will continue to service a
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