A.M. Best Affirms Credit Ratings of Athene Holdings Ltd. and Its Subsidiaries
The ratings of Athene reflect its balance sheet strength, which
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.
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 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
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
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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