Latest news with #Athene
Associated Press
16-07-2025
- Business
- Associated Press
Athene Announces Fixed Income Investor Call
WEST DES MOINES, Iowa, July 16, 2025 (GLOBE NEWSWIRE) -- Athene, a subsidiary of Apollo Global Management, Inc. (NYSE:APO), announced it will host a Fixed Income Investor Call on Tuesday, August 12, 2025 at 10:00AM ET. The call will feature members of Athene's senior management team, who will provide an update on current business trends, new business origination, the investment portfolio, and capital. An accompanying presentation, live webcast, and webcast replay will be available on the Investor Relations section of Athene's website at Conference Call Details: Dial-in: Toll-free at 877-404-1236 (domestic) or + 1 215-268-9888 (international) About Athene Athene is the leading retirement services company with over $380 billion of total assets as of March 31, 2025, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit Contact: Jeanne Hess Vice President, External Relations +1 646 768 7319 [email protected]
Yahoo
03-07-2025
- Business
- Yahoo
‘We're in a hurry, OK?': How Athene's new CEO leads a hard-charging insurer
When Grant Kvalheim stepped up to succeed Jim Belardi as Athene's CEO this week, he took the reins of an insurance industry phenomenon. The retirement annuities business Belardi co-founded in 2009 has grown to become the largest seller of fixed annuities in the US, with more than 12% of the market. Its growth has been powered by the asset origination prowess of Apollo Global Management, the private equity group led by Marc Rowan, which took full control of Athene in 2022. Pension plans that transferred their obligations to insurance companies like Athene have been targeted by class action attorneys, who allege that the latter's private equity ownership carries risks. But Kvalheim, who previously led Athene US operations and growth initiatives, still sees 'significant growth' ahead for each of its business lines — even in pension risk transfers. He's told investors his 2,000-person firm expects to increase its assets from $380 billion to about $600 billion by 2029. He jokes that when he and Belardi came up with Athene's 'Driven to Do More' slogan, they considered an alternative: 'Athene: We're in a Hurry, OK?' Andrew Edgclieffe-Johnson: How has Athene managed to build such a large business so fast? Grant Kvalheim: It's a combination of a clear vision and the power of being aligned with Apollo, right from the start. It seems very obvious now, but it wasn't at the time to anybody else, that if you are a retirement services company and you have long-dated, illiquid liabilities, you should have long-dated, illiquid assets and earn that premium. Because it's not a bank. There's never going to be a run on the bank. You can capture illiquidity premium. You can capture structuring premium if you have the expertise on the structured security side. And by having that extra margin on the asset side, you can have better products for the consumer. You can put some of that into the consumer, and you put some of it into profit. [Marc Rowan also said,] 'You guys should have a very conservative balance sheet, tons of excess capital, tons of liquidity, because … when markets dislocate, if you don't have liquidity, you'll be a forced seller. But if you have excess capital and excess liquidity, you can buy cheap assets and lock in excess profits for the next 10 years.' You talk about Athene's differentiation being driven by Apollo's asset origination capabilities. To what extent is your job as CEO driven by what Marc Rowan needs? No mistake, I work for Marc Rowan. I also report to Jim Belardi. Apollo owns us, and that's a beautiful thing. If we had been affiliated with a different asset manager, we would have done OK, but there's no way we would have gotten as far as we have without Apollo. Apollo brings unique skills to the table. What Marc and Apollo saw early on was that asset origination was going to be a differentiator. Building the platforms we have, [other] people can do that, but we've got a decade head start. Looking at these markets, is it a moment where you're building firepower, waiting for dislocation? Or do you think you're some way away from the next great opportunity? We loved the dislocation after [President Donald Trump's] declaration of 'Liberation Day.' And for a brief [period] we played that — I think we invested close to $15 billion in that month alone as spreads were blowing out. Unfortunately, from our perspective, it didn't last long enough, but that is an excellent example of what we mean by being poised to take advantage of market dislocations. There's a lot of wild stuff going on in the world. I mean, I don't think anybody had 'Israel-Iran war' on their scorecard [a few] weeks ago. And yet, markets are pretty benign. Spreads are tight. There is certainly the potential for dislocation. But I think right at the current moment, what we're feeling is everything's uncomfortably tight. There's nothing that you would say is cheap from an asset perspective. And some of the asset types that we used to like to buy, we've stopped buying because we've just said, at these levels, they don't make sense. What do you look for when you're hiring, particularly for senior leadership positions? Athene is known for always pushing hard, trying to do more, trying to do better. And I think one of the challenges is, as you succeed, maintaining that same passion for continuing to excel and exceed. We look for people with talent and experience, but importantly, we want people that fit in our culture. I've worked at organizations where you make a decision and people aren't wholehearted about executing it. And then if it doesn't work out, you're never quite clear if it didn't work out because people didn't really go for it. And what I love about Athene is the senior team respects each other. We trust each other, and I think the success of any organization, fundamentally, is premised on trust. And when we go off and do something, we make relatively quick decisions. Not hasty — we gather the information, we sit down, we decide, and we execute. We don't look back. Nobody comes around a week later and says, 'Hey, can we talk about that again?' That's just not in the culture. We decide, we get on with it. Apollo, Blackstone, and KKR long followed similar financial models. Now they're creating very different structures that could determine how they fare in tumultuous markets, the Financial Times reports. Lawsuits largely evaporated Athene's pension-risk transfer business last year. But a boom in funding-agreement notes more than filled the gap, The Wall Street Journal reports.
Yahoo
24-06-2025
- Business
- Yahoo
Athene Prices $600 Million Junior Subordinated Debentures Offering
WEST DES MOINES, Iowa, June 24, 2025 (GLOBE NEWSWIRE) -- Athene Holding Ltd. ('Athene') today announced it has agreed to sell $600 million aggregate principal amount of 6.875% fixed-rate reset junior subordinated debentures due June 28, 2055. The offering is expected to close on June 27, 2025, subject to satisfaction of customary closing conditions. Athene intends to use the net proceeds from the offering for general corporate purposes, including capital contributions to its insurance subsidiaries to support organic growth. BofA Securities, Deutsche Bank Securities, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the offering. Apollo Global Securities, Barclays, Blaylock Van, LLC, BNP PARIBAS, Citigroup, R. Seelaus & Co., LLC and SMBC Nikko are acting as co-managers for the offering. The debentures are being offered pursuant to an effective shelf registration statement that has previously been filed with the Securities and Exchange Commission (the 'SEC'). This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, or solicitation to buy, if at all, will be made solely by means of a prospectus and related prospectus supplement filed with the SEC. You may obtain these documents without charge from the SEC at Alternatively, you may request copies of these materials from the joint book-running managers by contacting BofA Securities, Inc. toll-free at (800) 294-1322, Deutsche Bank Securities Inc. toll-free at (800) 503-4611, J.P. Morgan Securities LLC collect at (212) 834-4533 and Wells Fargo Securities, LLC toll-free at (800) 645-3751. About AtheneAthene is a leading retirement services company with over $380 billion of total assets as of March 31, 2025, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. 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, uncertainties and assumptions 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 Athene's expectations regarding the completion of, and the use of proceeds from, the sale of the debentures, future growth prospects and financial performance. Although Athene management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. For a discussion of other risks and uncertainties related to Athene's forward-looking statements, see its annual report on Form 10-K for the year ended December 31, 2024, which can be found at the SEC's website 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 ContactJeanne HessVP, External Relations+1 646 768 in to access your portfolio
Elle
20-06-2025
- Lifestyle
- Elle
These Danish Hiking Sandals Are A Strong Contender For This Summer's It Shoe
There's an old adage that says in order to truly understand a person, you must first walk a mile in their shoes. As it turns out, walking a mile in any shoes (your own or otherwise) can do real wonders for your mind, body and soul – but if those shoes aren't quite right it can end up being a less than pleasant experience. Whether you're doing a post-work lap around the park to get your step count up or joining a walking community for weekend jaunt, selecting the right footwear for any sun-drenched stroll can sometimes feel as challenging as the walk itself – but it doesn't have to be. Case in point: the ECCO Offroad hiking sandal. Serving up a level of superior quality which the Danish brand has become known for, the three-strap sandal boasts a chunky, technical design that plays into the ongoing trends for gorpcore and retro-inspired technical shoes. Accidentally, ECCO has leaned into the anti-pretty aesthetic that we're all currently obsessed with – away from the trail, you can picture these looking chic with a mini skirt or a pair of capri pants. It's not all about aesthetics, of course – the ECCO Offroad also has strong pragmatic appeal. The Danish brand has applied dynamic innovations such as its FLUIDFORM™ Direct Comfort Technology, which seals the upper and sole for a fit that follows the natural curve of your foot for incredible support and comfort. Walking on air? Out. Walking on liquid? So in. The sole itself is made of hard-wearing rubber that's lightweight enough to keep a spring in your step on longer walks. After all, comfort and durability are crucial for both serious walking and more casual pavement-stomping. To get a true sense of how they hold up for longer jaunts, we turned to the expertise of off-road aficionados from the Athene Club, a sports community built around sisterhood and making hiking more accessible. ECCO teamed up with Athene for a walk in the British countryside. All strapped up in their ECCO Offroads, members spent a day ascending and descending the paths of Balcome and Ardingly reservoir in Sussex, traversing everything from soft grassy terrains and rocky paths to shallow pools of water. Their verdict? A universal stamp of approval, with members noting the 'super comfy' fit (the result of a moulded EVA footbed and neoprene lining) as a particular standout feature. And if you're wondering how a group of over a dozen women managed to style the same sandals on the same walk without twinning seven times over, the answer is with ease. The Offroads come in an impressive range of colourways, and go with everything from '90s athleisure to ultra-modern, techy designs. In our day-to-day, we'd also slip on a pair with white socks and a bubble-hem skirt. Sporty, easy-to-wear and surprisingly chic, these are a strong contender for this summer's It shoe. Explore the full ECCO Offroad collection now.
Business Wire
03-06-2025
- Business
- Business Wire
JAB Insurance Names Jin Chang as Partner
MIAMI--(BUSINESS WIRE)--JAB Insurance today announced that Jin Chang will join the firm in July as a Partner, bringing more than 30 years of insurance experience, most recently as Senior Vice President of Finance at Athene, Apollo Global Management's U.S. Insurance and Retirement Business. In addition, the firm announced that it has further strengthened its team by adding three new executives and appointing four independent directors with decades of insurance experience to its newly formed Board. Anant Bhalla, Senior Partner and Chief investment Officer of JAB, said, 'I have known Jin for more than 20 years, and over that time we have collaborated on numerous ventures and transactions. I am delighted to welcome him as a partner in JAB Insurance as we focus on creating a life insurance platform with a truly differentiated value proposition for our key stakeholders, including policyholders, distribution partners, and reinsurance cedants.' In addition to Chang, JAB Insurance has invested in its team of experienced insurance talent with three new hires who bring proven leadership experience in the industry: Guillaume Briere-Giroux, Managing Director, who has 20 years of life and annuity experience, most recently as a Partner at Oliver Wyman; Andrew Taktajian, Managing Director and General Counsel, who has advised numerous clients across a variety of insurance and regulatory matters, most recently as Chief Legal Officer, General Counsel, and Corporate Secretary of Federal Life Group, Inc.; and Kyle Hales, Principal, who has a decade of experience in the insurance sector and brings valuable experience in building financial processes for a de novo insurer in the U.S. Bhalla added, 'The addition of Guillaume, Andrew, and Kyle to the team at JAB Insurance enables us to be an engaged owner of our insurance businesses and to provide strategic support to their management teams. We recently closed on the acquisition of Family Life in Texas and look forward to closing later this year on our previously announced acquisition of Prosperity Life. Following these transactions, JAB Insurance will have more than $25 billion of policyholder reserves and 1 million policyholders in the U.S. insurance market.' Lastly, reflecting JAB Insurance's scale and commitment to best-in-class corporate governance, the firm has formed an independent Board, including the appointment of four new independent directors. David S. Mulcahy, former Chairman of the Board and Lead Independent Director of American Equity Investment Life Holding Company (formerly on the NYSE: AEL) and current Lead Independent Director of Workiva (NYSE: WK); Gary 'Doc' Huffman, with five decades of insurance experience, most recently as the CEO and Chairman of Ohio National Financial Services, a leading provider of life insurance products and financial planning services; Olav Cuiper, former Executive Committee member of RGA Inc. (NYSE: RGA), the largest publicly traded U.S. life reinsurer; and Ron Veith, former Accenture Partner with decades of experience advising executive boards and chief executives on strategy and technology in various industries, including financial services. Bhalla concluded, 'I am delighted to welcome Dave, Doc, Olav, and Ron to our JAB Insurance Board and look forward to both their wise counsel and invaluable perspectives. Forming this independent Board is a foundational element of our insurance strategy as we at JAB are investing solely our own, permanent capital as a principal investor in the life insurance sector. By compounding this capital over decades while fostering enduring relationships with our insurance clients, we intend to build a unique and compelling insurance franchise for generations to come.' JAB Insurance Platform Team Biographies Jin Chang, Partner, JAB Insurance Jin will join JAB Insurance in July 2025 as a Partner. He brings over 30 years of financial services experience, most recently as Senior Vice President of Finance at Athene, Apollo Global Management's U.S. Insurance and Retirement Business. Previously, Jin served as Treasurer and Head of Asset Liability Management (ALM) at Brighthouse Financial and CFO of Retail Annuities at MetLife. His prior roles included Managing Director at Apollo Credit, Managing Director and Head of Insurance Solutions at Morgan Stanley, and SVP in the Insurance Solutions Group at Lehman Brothers. Jin started his career as an Actuary at MetLife, and he is a Fellow of the Society of Actuaries. Guillaume Briere-Giroux, Managing Director, JAB Insurance Guillaume joined JAB insurance in May 2025 as a Managing Director. He has 20 years of life and annuity experience, most recently as a Partner at Oliver Wyman. He advised as an actuarial consultant on most large asset-intensive reinsurance and M&A transactions since 2008 and served as Chief Life and Annuity Reinsurance Officer in 2021 at Fortitude Re. Guillaume started his career as an actuary as Allianz Life, is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, and a CFA Charterholder. Andrew Taktajian, Managing Director, General Counsel, JAB Insurance Andrew joined JAB Insurance in May 2025. He brings over two decades of legal experience advising clients at privately held insurance platforms, Fortune 500 insurance companies, and at a boutique insurance regulatory law firm. Prior to joining JAB Insurance, Andrew served as Chief Legal Officer, General Counsel, and Corporate Secretary of Federal Life Group, Inc., an affiliate of Bain Capital. He previously served as Associate General Counsel, Insurance, at American Equity Investment Life Holding Company, Vice-President Corporate Counsel at Prudential Financial, and in various roles at AIG. He began his career at the Cantilo and Bennett law firm representing state insurance departments. Kyle Hales, Principal, Finance, JAB Insurance Kyle will join JAB Insurance in June 2025 as a Principal. Kyle has a decade of experience in the insurance sector and brings a comprehensive understanding of both regulatory frameworks and industry operations. Prior to JAB Insurance, Kyle served as Controller of Ibexis Life & Annuity Insurance Company. Kyle began his career as a Financial Analyst at the Utah Department of Insurance. JAB Insurance Independent Director Biographies David S. Mulcahy, Former Chairman of the Board and Lead Independent Director of American Equity Investment Life Holding Company (NYSE: AEL); Lead Independent Director of Workiva (NYSE: WK) David is a serial business builder and has worked alongside leading public and private insurers for over four decades. David joined American Equity Investment Life Holding Company (NYSE: AEL) at its inception in 1996 as an innovative, retirement annuity-focused insurer in Iowa serving middle America through independent marketing organizations (IMOs). At the time, AEL offered a novel product offering, fixed index annuities (FIAs), leveraging industry mega trends including 'indexing' and 'no fee' products to build the FIA category. David served on the Board of AEL from 1996 to 2006 and again from 2011 through the company's take private sale to Brookfield in 2024. Over his tenure at AEL, David served as Non-Executive Board Chairman, Lead Independent Director, Chairman of the Nominating and Corporate Governance Committee, and prior to that, as Chairman of the Audit Committee. David currently sits on the Board of Workiva (NYSE: WK), a cloud-based software company, where he serves as Lead Independent Director and is a member of the Audit Committee and Compensation Committee. David holds a BBA in Accounting and Finance from the University of Iowa and earlier in his career was a tax partner at E&Y. Gary 'Doc' Huffman, Former CEO and Chairman of Ohio National Financial Services Over the past 50 years, Doc held various leadership roles in the insurance sector. Most recently from 2008 to 2022 at Ohio National Financial Services which culminated in his role as CEO and Chairman. Prior to Ohio National, Doc held senior executive positions at Union Central Life Insurance Company and served as Executive Vice President and Co-Chief Operating Officer of the holding company of Ameritas, as well as on the Ameritas Board. He also worked in various senior roles across distribution, marketing, and annuity strategy at Massachusetts Mutual, where he began his career in 1975 as an agent. Doc is a University of Kentucky graduate and is involved in numerous advisory and board positions, including at AGAM; AeCe, Ltd. Bermuda; and Cincinnati Children's Hospital. Olav Cuiper, Former Executive Committee member of RGA Inc. Olav joined RGA, the largest publicly traded U.S. life reinsurer, in 2009 and held various leadership positions, culminating in his role as Executive Vice President and Global Chief Client Officer. During his time at RGA, he led the EMEA region from 2011 to 2021, contributing to the business' significant growth over his tenure. He also served as Chairman of the Board for RGA Middle East, Chairman of the Board for Aspire Health (RGAS's Middle East health initiative), director at several RGA-related boards, and as a member of the advisory Board of Carepay International, RGA's technology partner in the UAE. Prior to joining RGA in 2009, he served as Managing Director Europe at Fortis Insurance International, holding board positions across Europe, and as Managing Director of Group Life/Institutional Clients for Delta Lloyd Insurance NV. Olav currently serves on several boards in Europe and the U.S. related to JAB's pet insurance businesses. Ron Veith, Former Accenture Partner with financial services expertise Ron has over 40 years of experience advising executive boards and chief executives as they undertake strategic change initiatives. He has experience working with global leaders in the financial services, consumer goods and services, and technology industries. Ron was a partner with Accenture, serving in a variety of client and firm leadership roles in the consumer goods and services sector, including as Global Managing Partner for the firm's Oracle Practice. Most recently, Ron returned to his consulting roots providing strategy formulation, business development, operational improvement, and practice management advisory services primarily in the financial services industry. Ron has a Bachelor of Industrial Engineering degree from the Georgia Institute of Technology, and an MBA from the University of Notre Dame. About JAB Insurance JAB Insurance is the newly formed insurance segment of JAB Holding Company, which recently closed on the acquisition of Family Life, a Texas-domiciled life insurance company with licenses in 49 states, and previously announced the pending acquisition of Prosperity Life Group. With these transactions, JAB Insurance will have more than $25 billion of policyholder reserves and 1 million clients in the U.S. insurance market, with a clear strategy to build a leading global life insurance platform. About JAB Holding JAB is an investment holding company that invests in insurance and consumer-focused industries with attractive long-term dynamics, including strong growth prospects, attractive margin and cash flow characteristics, and proven resiliency. JAB is the controlling shareholder of Coty Inc., a global leader in beauty, and JDE Peet's, the world's leading pure-play coffee and tea company. It is also the anchor shareholder of Krispy Kreme, Inc., a global leader in freshly delivered doughnuts. JAB is the controlling shareholder of National Veterinary Associates, a leading veterinary care organization; Independence Pet Holdings, a leading provider of pet insurance in North America; Pinnacle Pet Group, a leading provider of pet insurance in Europe; Panera Brands Inc., one of the largest fast casual restaurant companies in the United States, which includes Panera Bread, Caribou Coffee and Einstein Bros. Bagels; Pret A Manger, a global leader in the ready-to-eat fresh food market; and Espresso House, the largest branded coffee shop chain in Scandinavia.
