Second Quarter 2023 Statutory Financial Statement for Athene Annuity and Life Company

QUARTERLY STATEMENT

OF THE

Athene Annuity and Life Company

TO THE

Insurance Department

OF THE

STATE OF

FOR THE QUARTER ENDED

JUNE 30, 2023

[ ] LIFE, ACCIDENT AND HEALTH

[ ] FRATERNAL BENEFIT SOCIETIES

2023

STATEMENT AS OF JUNE 30, 2023 OF THE Athene Annuity and Life Company

ASSETS

		Current Statement Date		4
	1	2		3	December 31
				Net Admitted Assets	Prior Year Net
	Assets	Nonadmitted Assets		(Cols. 1 - 2)	Admitted Assets
1. Bonds	.......... 64,885,952,336	...................................	..........	64,885,952,336	.......... 56,759,865,421

2. Stocks:

	2.1 Preferred stocks		1,077,077,541	...................................	1,077,077,541	375,053,478
	2.2 Common stocks		643,946,390	...................................	643,946,390	616,449,012
3.	Mortgage loans on real estate:
	3.1 First liens		26,311,254,793	...................................	26,311,254,793	20,143,906,517
	3.2 Other than first liens		1,151,256,580	...................................	1,151,256,580	1,274,604,844
4.	Real estate:
	4.1 Properties occupied by the company (less $
	encumbrances)		...................................	...................................	...................................	...................................
	4.2 Properties held for the production of income (less
	$	encumbrances)	................156,473,042	...................................	................156,473,042	................156,473,042
	4.3 Properties held for sale (less $

	.......................................................................................encumbrances)		...................................	...................................	...................................	...................................
5.	Cash ($	1,134,572,907 ), cash equivalents
	($	4,381,157,690	) and short-term
	investments ($	1,330,867,404 )	6,846,598,001	...................................	6,846,598,001	5,709,330,349
6.	Contract loans (including $	...................................	premium notes)	148,996,629	910,709	148,085,920	152,680,860
7.	Derivatives			2,393,003,139	...................................	2,393,003,139	2,116,281,531
8.	Other invested assets		8,489,601,127	10,053,069	8,479,548,058	7,598,765,276
9.	Receivables for securities		38,379,405	...................................	38,379,405	73,768,248
10.	Securities lending reinvested collateral assets	...................................	...................................	...................................	...................................
11.	Aggregate write-ins for invested assets	809,670,426	...................................	809,670,426	726,764,185
12.	Subtotals, cash and invested assets (Lines 1 to 11)	112,952,209,410	10,963,778	112,941,245,632	95,703,942,763
13.	Title plants less $	charged off (for Title insurers
	only)			...................................	...................................	...................................	...................................
14.	Investment income due and accrued	792,105,225	1,798,482	790,306,743	599,251,806
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	...................................	...................................	...................................	...................................
	15.2 Deferred premiums, agents' balances and installments booked but
	deferred and not yet due (including $
	earned but unbilled premiums)	6,355,575	...................................	6,355,575	6,175,613
	15.3 Accrued retrospective premiums ($	) and
	contracts subject to redetermination ($	)	................................... ................................... ................................... ...................................

16. Reinsurance:

	16.1	Amounts recoverable from reinsurers	264,998,314	...................................	264,998,314	234,650,830
	16.2	Funds held by or deposited with reinsured companies	...................................	...................................	...................................	...................................
	16.3	Other amounts receivable under reinsurance contracts	7,378,578,392	656,146	7,377,922,246	7,625,284,237
17.	Amounts receivable relating to uninsured plans	...................................	...................................	...................................	...................................
18.1	Current federal and foreign income tax recoverable and interest thereon ....	66,265,043	...................................	66,265,043	...................................
18.2	Net deferred tax asset	501,498,181	246,848,438	254,649,743	110,681,608
19.	......................................................Guaranty funds receivable or on deposit	...................... 495,879	...................................	...................... 495,879	...................... 495,879
20.	.....................................Electronic data processing equipment and software	...................................	...................................	...................................	...................................

21. Furniture and equipment, including health care delivery assets

	($	)	...................................	...................................	...................................	...................................
22.	Net adjustment in assets and liabilities due to foreign exchange rates	...................................	...................................	...................................	...................................
23.	.....................................Receivables from parent, subsidiaries and affiliates	322,823,295	...................................	................322,823,295	................127,521,179
24.	Health care ($	) and other amounts receivable	................. 20,183,817	................. 10,596,986	...................9,586,831	................344,899,935
25.	Aggregate write-ins for other than invested assets	4,296,741	4,296,741	...................................	...................................

26. Total assets excluding Separate Accounts, Segregated Accounts and

	Protected Cell Accounts (Lines 12 to 25)	122,309,809,871	275,160,571	122,034,649,300	104,752,903,849
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts	51,004,154,864	...................................	51,004,154,864	40,846,726,231
28.	Total (Lines 26 and 27)	173,313,964,735	275,160,571	173,038,804,164	145,599,630,080
	DETAILS OF WRITE-INS
1101.	Derivative Collateral Asset
................809,670,426	...................................	................809,670,426	................726,764,185
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	Summary of remaining write-ins for Line 11 from overflow page	...................................	...................................	...................................	...................................
1199.	Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)	809,670,426		809,670,426	726,764,185
2501.	Miscellaneous Assets	...................4,296,741	...................4,296,741	...................................	...................................
2502.	.......................................................................................................................	....................................	....................................	....................................	....................................
2503.	.......................................................................................................................	....................................	....................................	....................................	....................................
2598.	Summary of remaining write-ins for Line 25 from overflow page	...................................	...................................	...................................	...................................
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)	4,296,741	4,296,741

STATEMENT AS OF JUNE 30, 2023 OF THE Athene Annuity and Life Company

LIABILITIES, SURPLUS AND OTHER FUNDS

						1	2
						Current	December 31
						Statement Date	Prior Year
1.	..........Aggregate reserve for life contracts $	75,600,569,757 less $	included in Line 6.3
	(including $	..........................................................................................................61,043,705,297 Modco Reserve)		75,600,569,757	63,376,057,437
2.	Aggregate reserve for accident and health contracts (including $	874,982	Modco Reserve)	2,047,417	2,312,127
3.	Liability for deposit-type contracts (including $	.......... 18,661,231,794	Modco Reserve)	18,740,188,761	18,498,699,074

4. Contract claims:

	4.1	Life	364,619,519	337,672,303
	4.2	Accident and health	13,102	18,356
5.	Policyholders' dividends/refunds to members $	and coupons $	due
	and unpaid		...................................	...................................
6.	Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated
	amounts:
	6.1	Policyholders' dividends and refunds to members apportioned for payment (including $
		Modco)		...................................	...................................
	6.2	.................................Policyholders' dividends and refunds to members not yet apportioned (including $	Modco) ....	...................................	...................................
	6.3	.................................Coupons and similar benefits (including $	Modco)	...................................	...................................
7.	Amount provisionally held for deferred dividend policies not included in Line 6	...................................	...................................
8.	Premiums and annuity considerations for life and accident and health contracts received in advance less
	$	................................... discount; including $	accident and health premiums	...................................	...................................

9. Contract liabilities not included elsewhere:

	9.1	Surrender values on canceled contracts				...................................	...................................
	9.2	Provision for experience rating refunds, including the liability of $	accident and health
		experience rating refunds of which $	is for medical loss ratio rebate per the Public Health
		Service Act					...................................	...................................
	9.3 Other amounts payable on reinsurance, including $		assumed and $	............ 8,649,258,130
		ceded					8,649,258,130	8,315,490,609
	9.4 Interest Maintenance Reserve				171,609,278	184,929,029
10.	Commissions to agents due or accrued-life and annuity contracts $	23,533,549 , accident and health
	$	...................................	and deposit-type contract funds $	..................................................	................. 23,533,549	................. 16,497,125
11.	..............................................................................Commissions and expense allowances payable on reinsurance assumed			................... 2,743,456	...................3,051,680
12.	............................................................................................................................................General expenses due or accrued				................. 21,286,580	................. 18,484,142
13.	Transfers to Separate Accounts due or accrued (net) (including $	(516) accrued for expense
	allowances recognized in reserves, net of reinsured allowances)			............ 4,386,770,670	............ 3,391,683,045
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes			...................4,927,944	...................1,974,602
15.1	Current federal and foreign income taxes, including $		on realized capital gains (losses)	...................................	................. 21,606,612
15.2	Net deferred tax liability					...................................	...................................
16.	Unearned investment income				................... 9,316,378	................... 8,701,702
17.	Amounts withheld or retained by reporting entity as agent or trustee			...................2,035,892	...................2,650,626
18.	Amounts held for agents' account, including $	3,066,175 agents' credit balances	................... 3,066,175	...................3,111,150
19.	Remittances and items not allocated				................275,862,895	................326,710,586
20.	Net adjustment in assets and liabilities due to foreign exchange rates			...................................	...................................
21.	.......................................................................................Liability for benefits for employees and agents if not included above			........................ 91,352	...................................
22.	Borrowed money $	and interest thereon $	...........................................	...................................	...................................
23.	.......................................................................................................................Dividends to stockholders declared and unpaid				...................................	...................................
24.	Miscellaneous liabilities:
	24.01 Asset valuation reserve				............ 2,384,267,853	............ 1,746,597,076
	24.02 Reinsurance in unauthorized and certified ($	) companies	...................................	...................................
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	...................................	) reinsurers	............ 1,228,183,376	............ 1,247,874,689
	24.04 Payable to parent, subsidiaries and affiliates				................. 25,704,282	................. 47,234,642
	24.05 Drafts outstanding					...................................	...................................
	24.06 Liability for amounts held under uninsured plans				...................................	...................................
	24.07 Funds held under coinsurance				...................................	...................................
	24.08 Derivatives					................656,579,775	................769,982,293
	24.09 Payable for securities					................. 99,348,350	................. 31,587,313
	24.10 Payable for securities lending				...................................	...................................
	24.11 Capital notes $	and interest thereon $	...........................................	...................................	...................................
25.	Aggregate write-ins for liabilities				8,308,579,041	5,212,042,483
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)			120,960,603,530	103,564,968,701
27.	From Separate Accounts Statement				50,125,885,939	39,967,399,995
28.	Total liabilities (Lines 26 and 27)				171,086,489,469	143,532,368,695
29.	Common capital stock					10,000,000	10,000,000
30.	..............................................................................................................................................................Preferred capital stock					...................................	...................................
31.	Aggregate write-ins for other than special surplus funds				...................................	...................................
32.	Surplus notes					...................................	...................................
33.	.......................................................................................................................................Gross paid in and contributed surplus				............ 3,617,611,568	............ 3,090,453,196
34.	...........................................................................................................................Aggregate write-ins for special surplus funds				...................................	...................................
35.	......................................................................................................................................................Unassigned funds (surplus)					...........(1,675,296,873)	.......... (1,033,191,811)
36.	Less treasury stock, at cost:
	36.1	...................................	shares common (value included in Line 29	$	)
		...................................	...................................
	36.2	...................................	shares preferred (value included in Line 30	$		)
		...................................	...................................
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $	878,268,925	in Separate Accounts Statement)	1,942,314,694	2,057,261,385
38.	Totals of Lines 29, 30 and 37				1,952,314,694	2,067,261,385
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)					173,038,804,164	145,599,630,080
	DETAILS OF WRITE-INS
2501.	..............................................................................................................................................Repurchase Agreement Liability				............ 4,322,855,573	............ 3,216,199,100
2502.	...........................................................................................................................Derivative and Other Collateral Liability				............ 3,029,105,289	............ 1,528,330,498
2503.	..........................................................................................................................................................Miscellaneous Liability					................545,442,487	................233,771,618
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page			................411,175,692	................233,741,267
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)					8,308,579,041	5,212,042,483
3101.	.................................................................................................................................................................................................	...................................	...................................
3102	....................................	....................................
3103	....................................	....................................
3198.	..............................................................................................Summary of remaining write-ins for Line 31 from overflow page			...................................	...................................
3199.	Totals (Lines 3101 through 3103 plus 3198)(Line 31 above)
3401.	.................................................................................................................................................................................................	...................................	...................................

3402. ................................................................................................................................................................................................... .................................... ....................................

3403. ................................................................................................................................................................................................... .................................... ....................................

3498. Summary of remaining write-ins for Line 34 from overflow page .............................................................................................. ................................... ...................................

3499. Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)

STATEMENT AS OF JUNE 30, 2023 OF THE Athene Annuity and Life Company

SUMMARY OF OPERATIONS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Premiums and annuity considerations for life and accident and health contracts	............ 4,877,092,922	............ 2,617,080,085	............ 5,705,889,974
2.	Considerations for supplementary contracts with life contingencies	................... 2,004,331	................... 7,550,230	................... 9,329,316
3.	Net investment income	............ 1,771,846,520	............ 1,586,975,649	............ 2,769,976,528
4.	Amortization of Interest Maintenance Reserve (IMR)	...................7,215,596	...................... 102,866	................. 22,539,703
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	................183,534,117	................(99,002,361)	................(48,169,660)
6.	Commissions and expense allowances on reinsurance ceded	................775,688,185	................496,664,083	............ 1,228,334,491
7.	Reserve adjustments on reinsurance ceded	............ 8,772,373,867	............2,056,811,410	.......... 10,775,089,991
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract
	guarantees from Separate Accounts	................. 11,250,094	...................8,611,642	................. 19,763,044
	8.2 Charges and fees for deposit-type contracts	...................................	...................................	...................................
	8.3 Aggregate write-ins for miscellaneous income	957,172	(32,907,661)	(31,283,659)
9.	Totals (Lines 1 to 8.3)	16,401,962,804	6,641,885,943	20,451,469,728
10.	Death benefits	682,958	................... 1,370,907	................... 3,255,304
11.	Matured endowments (excluding guaranteed annual pure endowments)	...................................	...................................	...................................
12.	Annuity benefits	................418,701,358	................352,869,527	................706,918,237
13.	Disability benefits and benefits under accident and health contracts	.......................177,364	.......................178,720	.......................376,058
14.	Coupons, guaranteed annual pure endowments and similar benefits	...................................	...................................	...................................
15.	Surrender benefits and withdrawals for life contracts	............... 551,688,059	................366,566,437	................807,316,560
16.	Group conversions	...................................	...................................	...................................
17.	Interest and adjustments on contract or deposit-type contract funds	................316,195,011	................108,624,283	................347,596,992
18.	Payments on supplementary contracts with life contingencies	................... 4,471,344	................... 4,070,171	...................7,899,988
19.	Increase in aggregate reserves for life and accident and health contracts	12,224,247,610	4,620,330,288	15,933,994,815
20.	Totals (Lines 10 to 19)	...........13,516,163,703	............ 5,454,010,332	...........17,807,357,954
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
	business only)	................669,943,250	................405,349,225	............ 1,028,979,527
22.	Commissions and expense allowances on reinsurance assumed	................. 10,098,902	...................... 162,284	................. 11,861,839
23.	General insurance expenses and fraternal expenses	................255,170,973	................223,933,606	............... 465,964,129
24.	Insurance taxes, licenses and fees, excluding federal income taxes	................. 30,301,978	................. 12,426,228	................. 22,492,033
25.	Increase in loading on deferred and uncollected premiums	...................................	...................................	...................................
26.	Net transfers to or (from) Separate Accounts net of reinsurance	............ 1,730,119,059	............1,165,924,060	............ 1,736,440,418
27.	Aggregate write-ins for deductions	218,716,941	(80,905,052)	(21,226,977)
28.	Totals (Lines 20 to 27)	16,430,514,806	7,180,900,682	21,051,868,923
29.	Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
	Line 28)	................(28,552,002)	..............(539,014,739)	..............(600,399,194)
30.	Dividends to policyholders and refunds to members	12	363	363
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal
	income taxes (Line 29 minus Line 30)	................(28,552,015)	..............(539,015,102)	..............(600,399,557)
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	58,067,928	95,309,176	123,846,286
33.	Net gain from operations after dividends to policyholders, refunds to members and federal income
	taxes and before realized capital gains or (losses) (Line 31 minus Line 32)	................(86,619,943)	..............(634,324,278)	..............(724,245,843)

34. Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital

	gains tax of $	21,742,803 (excluding taxes of $	(11,330,445)
	transferred to the IMR)		(52,337,233)	497,019,217	486,128,264
35.	Net income (Line 33 plus Line 34)	(138,957,175)	(137,305,061)	(238,117,579)
		CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year	2,067,261,385	1,278,851,700	1,278,851,700
37.	Net income (Line 35)		(138,957,175)	..............(137,305,061)	..............(238,117,579)
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	............ 114,473,025	................438,229,504	..............(351,075,958)	..............(118,739,151)
39.	Change in net unrealized foreign exchange capital gain (loss)	................. 57,968,345	..............(112,477,601)	................(39,118,672)
40.	Change in net deferred income tax	................263,292,491	................(54,974,546)	................. 88,470,947
41.	Change in nonadmitted assets	.......................633,988	..............(119,226,003)	..............(133,963,768)
42.	Change in liability for reinsurance in unauthorized and certified companies	...................................	...................................	...................................
43.	Change in reserve on account of change in valuation basis, (increase) or decrease	...................................	...................................	...................................
44.	Change in asset valuation reserve	.............. (637,670,777)	................209,012,719	..............(432,642,837)
45.	Change in treasury stock		...................................	...................................	...................................
46.	Surplus (contributed to) withdrawn from Separate Accounts during period	...................................	...................................	................. 21,594,444
47.	Other changes in surplus in Separate Accounts Statement	..............(184,591,428)	............... 118,069,890	................. 70,865,505
48.	Change in surplus notes		...................................	...................................	...................................
49.	........................................................................Cumulative effect of changes in accounting principles	...................................	...................................	...................................
50.	Capital changes:
	50.1 Paid in		...................................	...................................	...................................
	50.2 Transferred from surplus (Stock Dividend)	...................................	...................................	...................................
	..................................................................................................................50.3 Transferred to surplus		...................................	...................................	...................................
51.	Surplus adjustment:
	51.1 Paid in		................527,158,372	................461,836,051	............ 1,399,148,022
	51.2 Transferred to capital (Stock Dividend)	...................................	...................................	...................................
	51.3 Transferred from capital	...................................	...................................	...................................
	...............................................................................51.4 Change in surplus as a result of reinsurance	..............(390,468,761)	................528,742,791	................170,737,886
52.	Dividends to stockholders		...................................	...................................	...................................
53.	Aggregate write-ins for gains and losses in surplus	(50,541,250)	91,743	174,889
54.	Net change in capital and surplus for the year (Lines 37 through 53)	(114,946,691)	542,694,025	788,409,685
55.	Capital and surplus, as of statement date (Lines 36 + 54)		1,952,314,694	1,821,545,725	2,067,261,385
	DETAILS OF WRITE-INS
08.301. COLI Income (Expense)
	1,300,805	................(35,061,837)	................(33,395,055)
08.302. Miscellaneous Income (Expense)	.....................(343,633)	...................2,154,176	...................2,111,396
08.303.	..................................................................................................................................................................................................			....................................	....................................
........................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	...................................	...................................	...................................
08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)		957,172	(32,907,661)	(31,283,659)
2701.	Change in Separate Account Reserve	................143,771,558	...................................	...................................
2702.	....................................................................................................Funds Withheld Adjustment - Ceded	................. 32,851,083	................. 30,726,674	................. 63,483,441
2703.	Transfer to IMR - Ceded		................. 29,346,124	..............(113,858,779)	................(93,274,665)
2798.	.........................................................Summary of remaining write-ins for Line 27 from overflow page	................. 12,748,176	...................2,227,052	...................8,564,246
2799.	Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)		218,716,941	(80,905,052)	(21,226,977)
5301.	Correction of Prior Period Error	(50,391,929)	...................................	...................................
5302.	Athene Re IV Tax Sharing Agreement	(149,321)	........................ 91,743	...................... 174,889
5303		....................................	....................................
5398.	.........................................................Summary of remaining write-ins for Line 53 from overflow page	...................................	...................................	...................................
5399.	Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)		(50,541,250)	91,743	174,889

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Athene Holding Ltd. published this content on 15 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 14:53:52 UTC.

Second Quarter 2023 Statutory Financial Statement for Athene Annuity and Life Company

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