Athene Annuity Earns Top-5 Sales Ranking
GREENVILLE, S.C.--(BUSINESS WIRE)--A multi-year guarantee fixed annuity from Athene Annuity ranked fifth in sales in its category for the first quarter of 2012, according to the Beacon Research Fixed Annuity Premium Study, which tracks sales and product trends in the annuity industry.
“To have a top-selling product is a significant accomplishment, especially as it comes less than a year after we launched our retail annuity business,” said Chris Grady, head of retail for Athene Annuity. “It affirms the strength of our business model, which focuses on delivering superior value to our clients and exceptional service to our marketing partners.”
Athene Annuity, which entered the retail market in July 2011, distributes its products through independent insurance agents and marketing organizations. Its ATHENE 7 MYG is a market value adjusted (MVA) fixed annuity with a seven-year interest rate guarantee.
The five best-selling MVA fixed annuities for the quarter ending March 31 were:
|1. New York Life||New York Life Secure Term MVA Fixed Annuity|
|2. American Equity||SPDA-MYGA|
|3. Pacific Life||Pacific Frontiers II|
|4. Great American||Stars & Stripes 7 NMO|
|5. Athene Annuity||ATHENE 7 MYG|
Source: Fixed Annuity Premium Study, Beacon Research, Evanston, IL
About Athene Annuity
A subsidiary of Bermuda-based Athene Holding Ltd., Athene Annuity & Life Assurance Company provides income solutions that help Americans prepare for retirement. For over a century, Athene Annuity has earned the trust of its policyholders through financial stability, integrity and service. Its main administrative office is in Greenville, S.C. For more, please visit www.AtheneAnnuity.com.
About Athene Holding Ltd.
Athene Holding Ltd.’s insurance subsidiaries are net investment spread businesses that fund themselves through retail sales of annuities and reinsurance in the U.S. retirement services market, and sales of institutional funding agreements. Athene invests primarily in a diversified portfolio of highly-rated, liquid, fixed income securities. Athene Holding Ltd.’s principal subsidiaries include Athene Life Re Ltd., a Bermuda-based reinsurer focused on the retirement services market; Athene Annuity & Life Assurance Company, a Delaware-domiciled stock life insurance company focused on retail sales and reinsurance; and Athene Life Insurance Company, an Indiana-domiciled stock life insurance company focused on the institutional funding agreement market.
Athene’s management team has many years of experience managing net investment spread businesses within life insurance companies. James R. Belardi, Chief Executive Officer of both Athene Holding Ltd. and Athene Annuity & Life Assurance Company, previously served as President of SunAmerica Life Insurance Company and Executive Vice President and Chief Investment Officer of AIG Retirement Services.