Athora (formerly AGER) Announces Deconsolidation from Athene Holding Ltd.

PEMBROKE, Bermuda – 1 January 2018 – Athora Holding Ltd. (“Athora” and formerly AGER Bermuda Holding Ltd.), the holding company of Athene Holding Ltd.’s (“Athene”) European operations today announces its deconsolidation from Athene Holding Ltd. (NYSE: ATH) (“Athene”). 

Athora’s successful capital raise in April 2017, representing approximately €2.2 billion, laid the foundation for growth in Europe and was an important step toward Athora’s goal of becoming the premier European run-off consolidator and life reinsurance partner. In August of 2017, Athora announced its intention to acquire Aegon Ireland plc, a Dublin-based insurer, and expects to draw down capital to close the acquisition in the first quarter of 2018, following satisfaction of all conditions to closing, including receipt of regulatory approval.  

Athene will remain a minority shareholder in Athora along with other global investors including affiliates of Apollo Global Management, LLC (NYSE: APO). Additionally, Athene will be a preferred reinsurer for Athora’s spread liabilities and have representation on its board of directors. 

With the deconsolidation from Athene, the name will change from AGER Bermuda Holding Ltd. to Athora Holding Ltd. The new name and look reflects Athora’s expanded capabilities and the exciting direction the company is taking, conveying a highly efficient, constantly improving business with an analytical approach to success for all stakeholders. 

Athora’s principal operating subsidiary remains Athene Lebensversicherung AG (“Athene Leben”), based in Germany. Athene Leben had €5 billion in invested assets as of 31 December 2016. The company has been in run-off since 2010 and since that time has developed the experience and efficiencies critical to succeed as a run-off specialist.