Fourth Quarter 2023 Statutory Financial Statement for Athene Life Re Ltd.

1

CASH AND CASH EQUIVALENTS

2

QUOTED INVESTMENTS:

(a)

Bonds and debentures

i. Held to maturity

ii. Other

(b)

Total Bonds and Debentures

(c)

Equities

i. Common Stocks

ii. Preferred Stocks

iii. Mutual Funds

(d)

Total Equity Investments

(e)

Other Quoted Investments

(f)

Total Quoted Investments

3

UNQUOTED INVESTMENTS:

(a)

Bonds and debentures

i. Held to maturity

ii. Other

(b)

Bonds and Debentures

(c)

Equities

i. Common Stocks

ii. Preferred Stocks

iii. Mutual Funds

(d)

Total Equity Investments

(e)

Other Unquoted Investments

(f)

Total Unquoted Investments

4

INVESTMENTS IN AND ADVANCES TO AFFILIATES (EQUITY METHOD):

(a)

Unregulated entities that conduct ancillary services

(b)

Unregulated non-financial operating entities

(c)

Unregulated financial operating entities

(d)

Regulated non-insurance financial operating entities

(e)

Regulated insurance financial operating entities

(f)

Total investments in affiliates (equity method)

(g)

Advances to affiliates

(h)

Total investments in and advances to affiliates (equity method)

5

INVESTMENTS IN MORTGAGE LOANS ON REAL ESTATE:

(a)

First Liens

(b)

Other than First Liens

(c)

Total Investments in Mortgage Loans on Real Estate

6

POLICY LOANS

7

REAL ESTATE:

(a)

Occupied by the company (less encumbrances)

(b)

Other properties (less encumbrances)

(c)

Total real estate

8

COLLATERAL LOANS

2,466,521

820,932

11,995,727

6,991,303

-

-

11,995,727

6,991,303

421,376

472,629

17,567

17,480

-

-

438,943

490,109

-

-

12,434,670

7,481,412

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,354,941

1,639,121

1,354,941

1,639,121

-

-

5,494

6,246

497,091

473,289

-

-

4,516,395

2,988,754

5,018,980

3,468,289

3,118,568

2,352,771

8,137,548

5,821,060

358,692

320,251

-

-

358,692

320,251

(1)

(1)

-

-

-

-

-

-

-

-

230,204

167,619

-

-

-

-

-

-

-

-

-

-

334,445

3,222

372,823

-

495

490

997

997

938,964

172,328

-

-

-

-

-

-

-

-

53,902,216

53,703,173

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

LOSS AND LOSS EXPENSE PROVISIONS:

(a)

Gross loss and loss expense provisions

(b)

Less : Reinsurance recoverable balance

i. Foreign affiliates

ii. Domestic affiliates

iii. Pools & associations

iv. All other insurers

(c)

Total reinsurance recoverable balance

(d)

Net loss and loss expense provisions

18

OTHER INSURANCE RESERVES

19

TOTAL GENERAL BUSINESS - INSURANCE RESERVES

LONG-TERM BUSINESS INSURANCE RESERVES

20

RESERVES FOR REPORTED CLAIMS

21

RESERVES FOR UNREPORTED CLAIMS

22

POLICY RESERVES - LIFE

23

POLICY RESERVES - ACCIDENT AND HEALTH

24

POLICYHOLDER'S FUNDS ON DEPOSIT

25

LIABILITY FOR FUTURE POLICYHOLDER DIVIDENDS

26

OTHER LONG-TERM BUSINESS INSURANCE RESERVES

27

TOTAL LONG-TERM BUSINESS - INSURANCE RESERVES

(a)

Total Gross Long-Term Business Insurance Reserves

(b)

Less: Reinsurance Recoverable Balance:

(i) Foreign Affiliates

(ii) Domestic Affiliaties

(iii) Pools and Associations

(iv) All Other Insurers

(c)

Total Reinsurance Recoverable Balance

(d)

Net Long-Term Business Insurance Reserves

2023

2022

('000s)

('000s)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27,452

42,746

-

-

12,711,190

13,467,461

-

-

-

-

-

-

-

-

36,574,693

39,223,105

-

-

23,836,051

25,712,898

-

-

-

-

23,836,051

25,712,898

12,738,642

13,510,207

28

INSURANCE AND REINSURANCE BALANCES PAYABLE

29

COMMISSIONS, EXPENSES, FEES AND TAXES PAYABLE

30

LOANS AND NOTES PAYABLE

31

(a) INCOME TAXES PAYABLE

(b) DEFERRED INCOME TAXES

32

AMOUNTS DUE TO AFFILIATES

33

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

34

FUNDS HELD UNDER REINSURANCE CONTRACTS

35

DIVIDENDS PAYABLE

459,657

63,903

-

-

-

-

875,244

233,794

12,643

176,248

-

-

-

-

1,347,544

473,945

-

-

-

-

-

-

-

-

26,689,634

27,109,253

39,428,276

40,619,460

40

TOTAL STATUTORY CAPITAL AND SURPLUS

14,473,940

41

TOTAL

53,902,216

GENERAL BUSINESS UNDERWRITING INCOME

1

GROSS PREMIUMS WRITTEN:

(a) Direct gross premiums written

(b) Assumed gross premiums written

(c) Total gross premiums written

2

REINSURANCE PREMIUMS CEDED

4

INCREASE (DECREASE) IN UNEARNED PREMIUMS

6

OTHER INSURANCE INCOME

7

GENERAL BUSINESS UNDERWRITING EXPENSES

8

NET LOSSES INCURRED AND NET LOSS EXPENSES INCURRED

9

COMMISSIONS AND BROKERAGE

10

2023

2022

('000)

('000)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,142,402

7,610,093

7,142,402

7,610,093

2,691,816

91,068

-

-

4,450,586

7,519,025

-

-

4,450,586

7,519,025

-

-

4,450,586

7,519,025

-

-

-

-

5,261,087

2,764,482

-

2,431,769

189,802

482,226

-

-

95,392

64,007

8,937

45,524

5,555,218

5,788,008

-

-

(648,000)

2,412,412

-

-

(648,000)

2,412,412

4,907,218

8,200,420

(456,632)

(681,395)

(456,632)

(681,395)

32,455

32,746

-

-

940,114

1,233,300

703,831

418,686

1,154,858

970,774

-

-

-

-

-

-

1,154,858

970,774

(259,252)

(14,638)

63,571

19,166

832,035

936,970

8,665,038

8,093,166

4,990,547

8,094,803

832,035

936,970

-

-

-

-

-

-

-

-

(13,680)

(4,041,226)

5,808,902

4,990,547

-

-

14,473,940

13,083,713