June 18, 2020

Apollo to further expand its Insurance Asset Management Business

Nicolas Cole

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

Nicolas Cole
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