Athene Life Re Ltd. (“Athene Life Re”), a subsidiary of Athene Holding Ltd., is a Bermuda-based reinsurance company focused on the growing retirement services market. Athene Life Re’s core business is fixed annuity reinsurance, partnering with primary life and annuity insurance companies to find solutions to their corporate needs, enhancing their presence in the retirement market and improving their financial results.The specific liabilities Athene Life Re reinsures include equity-indexed, multi-year guarantee and traditional one-year guarantee fixed deferred annuities, immediate annuities and funding agreements. Athene Life Re offers quota share reinsurance of future premiums (“flow transactions”) and also reinsures closed blocks of existing business (“block transactions”).
Proceeds of reinsurance transactions are invested in a diversified portfolio of fixed income securities by Athene Asset Management LLC, an investment advisor led by Jim Belardi, Chief Executive Officer and Chief Investment Officer. Athene Asset Management provides investment management, risk management and asset allocation services for Athene Life Re.
As of December 31, 2012, Athene Life Re had assumed economically through Mod-Co and Funds Withheld reinsurance agreements, total assets of $11.0 billion and equity of approximately $1.6 billion.
In June 2011, Athene Life Re Ltd., along with five similarly situated reinsurers, formally organized the Bermuda International Long Term Insurers and Reinsurers association (BILTIR). BILTIR, which currently has over 30 members, serves as a formal association representing the long-term insurer and reinsurer group in Bermuda. The primary focus of BILTIR is to be an advocate for the life industry on the island for matters with respect to regulatory requirements and other aspects related to the Bermuda Monetary Authority, tax matters relative to various jurisdictions, and in general to provide a consistent and coherent voice for any concerns of the life industry in Bermuda.
For more information, please visit: www.biltir.bm