PEMBROKE, Bermuda--(BUSINESS WIRE)--Athene Holding Ltd., a Bermuda-based insurance holding company (“Athene Holding,” and together with its subsidiaries, “Athene”), announced today that is has successfully completed the acquisition of Delta Lloyd Deutschland AG and its subsidiaries (“DLD”), the German subsidiary companies of Delta Lloyd N.V., an Amsterdam-based financial services provider. All closing conditions have been met.
“We are pleased that DLD is now a part of the Athene family. We look forward to DLD contributing to Athene’s profitability and growth objectives while continuing to focus on policy protection and risk management,” said James R. Belardi, CEO of Athene Holding.
“We will benefit greatly from Athene’s asset and risk management expertise as well as from its strong capital position. Together, we will focus on further developing our profitable and growing business,” Christof W. Göldi, CEO of DLD, stated.
DLD is based in Wiesbaden, Germany, and provides life insurance products to the German market. DLD will continue to focus on run-off business and will continue to service its existing 350,000 customers and maintain the customer-centric business approach, which has always been a core element of the company’s strategy.
DLD and its subsidiaries will start to transition to the Athene brand this year.
As of December 31, 2014, Athene Holding had GAAP assets of approximately $80.6 billion (approximately €66.3 billion) and DLD had assets of approximately $6.0 billion (approximately €4.9 billion).
About Athene Holding Ltd.
Athene Holding, through its subsidiaries, is a leading provider in the retirement savings market. Athene Holding provides investment solutions, including savings products, to support retirees as well as those saving for retirement. The products offered by Athene include:
- Retail fixed and equity indexed annuity products
- Institutional products, such as funding agreements
- Co-insurance and reinsurance arrangements with third-party annuity providers
Athene's principal subsidiaries include Athene Annuity & Life Assurance Company and Athene Life Insurance Company, Delaware-domiciled insurance companies, Athene Annuity and Life Company, an Iowa-domiciled insurance company, Athene Annuity & Life Assurance Company of New York and Athene Life Insurance Company of New York, New York-domiciled insurance companies, and Athene Life Re Ltd., a Bermuda-domiciled reinsurer.
Further information about our companies can be found at www.athene.bm.