Athene Completes Pension Risk Transfer Transaction with Lockheed Martin
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
ATHENE HOLDING LTD.--(BUSINESS WIRE)-- Athene Holding Ltd. (“Athene”) (NYSE: ATH), a leading retirement services company, announced the close of an $800 million pension risk transfer transaction with Lockheed Martin (NYSE: LMT), a global security and aerospace leader, in December 2018. This buy-in transaction will hedge the financial risk associated with approximately 9,000 retirees covered under one of Lockheed Martin’s pension plans. This buy-in agreement reflects one of the two pension transactions Lockheed Martin announced today. Under the terms of the transaction, Athene’s wholly-owned Iowa-domiciled life insurance subsidiary, Athene Annuity and Life Company, has committed to issuing a group annuity contract covering the aggregate obligations under the plan, while Lockheed Martin will maintain responsibility for overall plan administration. “We are pleased to have been selected as a trusted
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