Athene Announces Third Pension Group Annuity Transaction with Lockheed Martin, Bringing Total to $10 Billion
27 Junho 2022 - 5:40PM
Athene USA ("Athene"), a leading retirement services company and
wholly owned subsidiary of Apollo Global Management (NYSE: APO),
announced the close of its third pension group annuity (“PGA”)
transaction with global security and aerospace leader Lockheed
Martin (NYSE: LMT.) Since its first transaction with Lockheed
Martin in 2018, Athene has agreed to provide annuity benefits for
over 40,000 Lockheed Martin plan participants, totaling $10 billion
in pension obligations and related plan assets.
Per the latest transaction, Athene's wholly-owned subsidiaries,
Athene Annuity and Life Company ("AAIA") and Athene Annuity &
Life Assurance Company of New York ("AANY"), have agreed to assume
$4.3 billion in pension obligations and related plan assets for
approximately 13,600 participants of Lockheed Martin's pension plan
who are currently receiving benefits.
“Today, many plan sponsors are looking for a trusted partner to
help them reduce the volatility of their pension obligations,” said
Sean Brennan, Executive Vice President, Pension Group Annuity and
Flow Reinsurance at Athene. “As a leader in the pension group
annuity market, we look forward to continuing to identify
innovative solutions for pension risk mitigation as we support plan
sponsors at every stage of the process. We are pleased to have once
again been selected to provide Lockheed Martin’s pension plan
participants with the continued retirement security they
earned.”
Under the agreement, AAIA and AANY have each committed to
issuing a group annuity contract to Lockheed Martin and individual
annuity certificates to applicable participants.
"We continue to see an increase in the size and frequency of
U.S. PGA transactions," added Grant Kvalheim, President of Athene
and CEO and President of Athene USA. "Athene’s financial strength
and expertise on managing retirement obligations ensure we are a
solutions provider that is well-equipped at helping companies
de-risk while maintaining retirees' benefits in a seamless
way."
Athene utilized its strategic capital vehicle, Athene
Reinsurance Co-investment ("ACRA"), to support the completion of
this transaction. Athene is a leader within the pension group
annuity industry, partnering with plan sponsors and intermediaries
to execute 35 transactions covering over $32.2 billion in premiums
for more than 390,000 annuitants since entering the market. To
learn more about Athene's PGA solutions, visit athene.com/PGA.
About AtheneAthene, through
its subsidiaries, is a leading retirement services company with
total assets of $246.1 billion as of March 31, 2022, and operations
in the United States, Bermuda, and Canada. Athene specializes in
helping its customers achieve financial security and is a solutions
provider to institutions. Founded in 2009, Athene is Driven to Do
More for our policyholders, business partners, shareholders, and
the communities in which we work and live. For more information,
please visit www.athene.com.
Safe Harbor
for Forward-Looking
StatementsThis press release contains, and certain
oral statements made by Athene's representatives from time to time
may contain, forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. 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. These statements are based on
the beliefs and assumptions of Athene's management and the
management of Athene's subsidiaries. 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,” "should,"
or “continues” or similar expressions. Forward-looking statements
within this press release include, but are not limited to,
statements regarding future growth prospects and financial
performance. Factors that could cause actual results, events and
developments to differ include, without limitation: the accuracy of
Athene's assumptions and estimates; Athene's ability to maintain or
improve financial strength ratings; Athene's ability to manage its
business in a highly regulated industry; regulatory changes or
actions; the impact of Athene's 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 Athene's 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; Athene's
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 Athene's operations; the failure to
realize the expected benefits from the merger with Apollo Global
Management; 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, 2021, its quarterly report on
Form 10-Q for the quarter ended March 31, 2022, and its other SEC
filings, which can be found at the SEC’s website www.sec.gov. 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 does not undertake any obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results.
Media ContactKelly
WoerdehoffAVP, Corporate Communications+1
515-342-5144kwoerdehoff@athene.com
Apollo Global Management (NYSE:APO)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Apollo Global Management (NYSE:APO)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024