Global alternative investment manager, Apollo, announced today the expansion of its insurance asset management business as Athene Holding Ltd. together with Jackson National Life Insurance Company have entered into a fixed annuity block reinsurance transaction.

Athene will reinsure a $27 billion in-force block of fixed deferred and fixed indexed annuities and will also make a $500 million equity investment in Jackson, representing an 11% stake in the company

Apollo’s insurance platform is backed by permanent capital vehicle assets from Athene and other insurance platforms.

Apollo has invested approximately $80 billion in insurance-related assets under management through a pro forma for Athene ‘s transaction with Jackson, new transactions and internal expansion in the first quarter of 2020.

Source: Globe News Wire

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