OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of the members of Athene Group (Athene). Athene, which is focused on the fixed indexed and fixed annuity market segments, is the consolidation of the organization’s U.S. operating companies, along with Athene Life Re Ltd. (Bermuda), its affiliated reinsurance company. Additionally, A.M. Best has affirmed the Long-Term ICR of “bbb”, the existing Long-Term Issue Credit Ratings (Long-Term IR) and the indicative Long-Term IRs of Athene Holding Ltd. (AHL) (Bermuda). AHL operates as the holding company for the U.S. and Bermuda operations. The outlook of these ratings remains stable. (See below for a detailed listing of Athene’s members and AHL’s Long-Term IRs.)

The ratings of Athene reflect its balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

Athene’s balance sheet strength is underpinned by its risk-adjusted capitalization that is at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). This is also supported by relatively low financial leverage at the holding company and solid liquidity. Offsetting rating factors include the company’s investment portfolio, which includes structured securities and alternative assets and is viewed as more aggressive compared with traditional life insurance companies.

The company’s strong trend of earnings and organic capital growth has enabled AHL and its operating companies to strengthen their balance sheets while providing sufficient capital support for growth. Athene has demonstrated a consistent trend of strong profitability and sales growth. This includes recent pension risk transfer growth, solid fixed indexed annuity sales, and the announced acquisition of Voya Financial Inc.’s individual fixed and fixed indexed annuity business via reinsurance.

Athene maintains its position among the leaders in the fixed indexed annuity market. A.M. Best also notes the challenges the company faces in managing risks associated with its expanded retail distribution platform and continued rapid growth. Also noted are the pressures associated with managing assets in support of spread-based liabilities, given the extended low interest rate environment.

The FSR of A (Excellent) and the Long-Term ICRs at “a” have been affirmed with a stable outlook for the following members of Athene Group:

• Athene Annuity & Life Assurance Company
• Athene Annuity & Life Assurance Company of New York
• Athene Annuity and Life Company
• Athene Life Insurance Company of New York
• Athene Life Re Ltd.

The following Long-Term IR has been affirmed with a stable outlook:

Athene Holding Ltd. —
--“bbb” on $1.0 billion 4.125% senior unsecured notes, due 2028

The following indicative Long-Term IRs have been affirmed with a stable outlook:

Athene Holding Ltd. —
-- “bbb” on senior unsecured debt
-- “bbb-” on subordinated debt
-- “bb+” on junior subordinated debt
-- “bb+” on preferred stock

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180418006435/en/

A.M. Best

Edward Kohlberg, +1 908-439-2200, ext. 5664

Associate Director

[email protected]

or

Thomas Rosendale, +1 908-439-2200, ext. 5201

Director

[email protected]

or

Christopher Sharkey, +1 908-439-2200, ext. 5159

Manager, Public Relations

[email protected]

or

Jim Peavy, +1 908-439-2200, ext. 5644

Director, Public Relations

[email protected]

Source: A.M. Best

A Prince George’s County grand jury on Tuesday indicted Corrie Alston, 51, of Bowie, with felony theft scheme and insurance fraud for submitting multiple fraudulent life insurance applications, Attorney General Anthony G. Brown announced.

The indictment includes one count of a felony theft scheme of $1,500-$25,000 and 21 counts of felony insurance fraud over $300. The investigation was led by the Attorney General’s Fraud and Corruption Unit and the Maryland Insurance Administration.

“Corrie Alston allegedly submitted dozens of fraudulent insurance applications, deliberately using Hispanic surnames because he believed assumptions about undocumented immigrants would shield him from scrutiny,” Brown said in a news release. “Our Office will not allow insurance agents to employ appalling, cynical schemes that exploit the identities and dignity of vulnerable communities.”

An attorney listed for Alston could not immediately be reached for comment.

Alston, while employed as an information technology specialist for the federal government, also worked as a licensed Maryland insurance agent for the Don Pope Insurance Agency, according to the attorney general, selling policies for Senior Life Insurance Company. The investigation revealed that Alston submitted 21 applications for fictitious individuals in order to be paid commissions on these fraudulent policies.

In an interview with investigators, Alston allegedly admitted that he deliberately chose Hispanic surnames because he believed Senior Life would conclude they were undocumented individuals and not attempt to further verify the Social Security Numbers that he had provided in the applications, according to the release. In total, prosecutors alleged that Alston stole approximately $5,122 in commission payments from Senior Life Insurance Company for false applications.

Have a news tip? Contact Karl Hille at 443-900-7891 or [email protected].

©2026 Baltimore Sun. Visit baltimoresun.com. Distributed by Tribune Content Agency, LLC.