edward.kohlberg@ambest.com, Christopher Sharkey Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. At the same time, we raised our rating on the holding company to 'A-' from 'BBB+'. Ceded: $17.78 billion However, Plus annuitants who do not withdraw money over the course of a full year are given up to 20% fee-free withdrawals the following year. Additionally, Athene maintained modest financial leverage of 12% at YE 2020 and Fitch views the company has having strong financial flexibility including a strong liquidity position with sufficient sources of contingent capital. Guaranteed income for life and inflation help (some products). This material is provided by Athene Annuity and Life Company (61689) headquartered in West Des Moines, Iowa, which issues annuities in 49 states (excluding NY) and D.C., and Athene Annuity & Life Assurance Company of New York (68039) headquartered in Pearl River, New York, which issues annuities in New York. For a full explanation of an annuity, please refer to the Certificate of Disclosure or Prospectus (as applicable) and contact your financial professional or the company for costs and complete details. Working at Athene Annuity and Life Assurance: 13 Reviews - Indeed But if you need life insurance for seniors over 80, you may want to consider options with other companies. In other words, take some risks, as you have the stellar income rider to back you up. Furthermore, ACRA and the recent fixed annuity reinsurance agreement with Jackson National Life Insurance Company have been accretive to earnings. Any exceptions follow below. Unlike most other similar products on the market, this annuity comes with income and death benefit riders at no additional cost to you. The more quotes you compare, the more chances to save. All transactions are subject to meeting a reinsurers underwriting requirements. 6Funding agreements are comprised of funding agreements issued under our FABN and FABR programs, funding agreements issued to the FHLB and long-term repurchase agreements. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. Annuity contracts and group annuity contracts are issued by Athene Annuity and Life Company (61689), West Des Moines, IA, and Athene Annuity & Life Assurance Company (61492), Wilmington, Delaware, in all states (except New York), and in D.C. and PR. Athene USA Reviews: 174 User Ratings - WalletHub This dollar amount is automatically credited a 15% bonus, and on every contract anniversary, youll receive another boost equal to 175% of the value you accumulated over that year. If you have questions about an Athene annuity contract, you can call one of the following customer service numbers (depending on the type of annuity you own): Fixed Annuity Contracts Issued by Aviva Life and Annuity Company or Athene Annuity and Life Company. There are no traditional fees with this annuity, although it does include withdrawal charges. Fitch notes that Athene has a high level of expertise in managing such asset classes, and to date Athene's investment portfolio has experienced only minimal losses and modest ratings migration. Concurrently, AM Best has assigned an FSR of A (Excellent) and the. The term insurance professional is not intended to imply engagement in an advisory business with compensation unrelated to sales. These companies are not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. The institutional channel includes reinsurance and group annuity contracts related to pension group annuities. -- bbb+ (Good) on $1.0 billion 4.125% senior unsecured notes, due 2028 Discover the peace of mind that comes from partnering with Athene. But for annuity companies, this is especially relevant due to the longevity of the relationships with its annuitants. Compare rates from 50+ top-rated insurers. Disclaimer: EffortlessInsurance.com strives to present the most up-to-date and comprehensive information on saving money on life insurance possible. Retail: #1 in fixed annuity sales (2022). If you meet these criteria, consider calling and speaking with an Athene representative to see whether an annuity is right for you. Athene Annuity and Life Company Company Profile | West Des Moines, IA | Competitors, Financials & Contacts - Dun & Bradstreet Athene : S&P Global Ratings Upgrades Financial Strength Ratings of Lastly, immediate annuities are the most predictable of the options Athene offers. Athene Annuity and Life Co - Company Profile and News However, it is important to review the terms and conditions of your specific annuity contract as there may be surrender charges or limitations on withdrawals, especially during the surrender charge period. Athene Holding Ltd. (And Operating Subsidiaries) These products help protect your investment portfolio from market volatility and enjoy peace of mind. If youre unhappy with how much you have to invest in an annuity, the Plus account affords you the chance to receive a premium bonus up to 6%. Income taxes are impactful as it is, so nobody should want to volunteer for a 10% surcharge. 1 We create opportunitiesfor your clients and for you with competitive annuity solutions for accumulation, income, protection and legacy. Weve proven our ability to get sustainable returns across various market environments. for Athene. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. How can I file a claim with Athene for a life insurance policy? Their customer service at the Des Moines, Iowa, office could not be any worse than it is. The key to achieving emotional and financial well-being in retirement is preparation. The customer service number for Athene Annuity is (888) 266-8489. Independent rating agencies meet annually with Athene to evaluate our performance. Reinsurance contracts are entered into with Athene Annuity and Life Company (61689), West Des Moines, IA; Athene Annuity & Life Assurance Company (61492), Wilmington, Delaware; Athene Annuity & Life Assurance Company of New York (68039), Pearl River, NY; and Athene Life Re Ltd., Hamilton, Bermuda. Athene Annuity & Life Assurance Company pays an average salary of $251,916 and salaries range from a low of $220,883 to a high of $291,877. When using Internet Explorer (IE) as your browser, please use non-compatibility view settings from your IE Tools menu. Use these resources to help you make your next life your best life. There are five indices that you can invest in through this annuity, including three options from the S&P 500 and one each from BNP Paribas, Morningstar and Janus SG. Athene is a subsidiary of Apollo Global Management, one of the worlds leading alternative asset managers. You will, however, have to pay 0.40% annually for this service. Fitch Affirms Athene's Ratings; Outlook Stable The financial well-being of any financial institution should be of the utmost importance to its customers. When it comes to choosing an annuity company, there are many options to choose from. The Performance Elite has 5 available indexes and four of them have "Un-Capped Index Annuity Crediting Methods. Athene Annuity and Life Insurance Company has received strong financial strength ratings from reputable rating agencies. So while your returns are dependent on how your chosen index performs, it isnt literally invested in the market like a normal investment would be. Rating Action On May 18, 2021, S&P Global Ratings raised its financial strength and issuer credit ratings on Athene Holding Ltd.'s operating insurance entities (collectively, Athene) to 'A+' from 'A'. Apollo gives us a competitive advantage through its tailored portfolio and asset management capabilities. Become a Game Changer and help more people make their next life their best life. Reinsurers may not be licensed in all states. Contact Athenes customer service for guidance and information regarding surrender or withdrawal options. Annuities contain features, exclusions, limitations and availability that may vary by state and/or sales distributor. Total Admitted Assets: $4.69 billion But the main draw of this annuity is its optional income rider, which comes in the following two forms: Each of these has a preset simple interest rate, along with an opening bonus, that is used to help boost the annuitants initial income base, which is what you pay as your initial premium. Pension risk transfer (PRT): Athene has been a leader in PRT volumes for the last five years. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Athenes login is available on their website. Option 1 comes with higher simple interest rates and a better bonus than Option 2, but what it cannot match is Option 2s stacking percentage. To purchase an Athene annuity or life insurance policy, you can contact Athene directly or work with a licensed insurance professional who represents Athene products. How Do Annuities Work? In addition, Athene Annuity offers several different riders that can provide additional protection for your investment. to 8:00 a.m. - 5:00 p.m. CT, Monday - Friday. This material is a general description intended for general public use. The Rating Outlook for Athene and subsidiaries has been revised to Stable from Negative. Please reach out to your financial professional if you have any questions about insurance products and their features. Insurance professionals will be paid a commission on the sale of an Athene annuity. Im a licensed financial professional focusing on annuities and insurance for more than a decade. Although this product is much simpler than some of its counterparts, it still does include a death benefit. These start at 9% and steadily decline each year after the first untilthe contract ends. 37 The outlook of these Credit Ratings (ratings) is stable. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). Flow reinsurance: Record annual inflows in 2022. Once the end of that first year comes, the one-year option may see an interest dip, while the multi-year option remains higher. The table below lists Athene Annuity Ratings including Standard & Poor's, Fitch, Weiss, and AM Best. 10 However, there are charges for any withdrawals made over the 10% Athene allows annually. Your home for tools and resources to grow your business and help your clients retire better. The IRS may charge you a 10% income tax surcharge if you begin payments from your annuity before 59.5 years old. Longer-term ratings concerns include exposure to persistently low interest rates, which could have a meaningful impact on results if rates were to return to near pandemic lows. Ive been featured in Time Magazine, Yahoo! Fitch notes that Athene is well positioned to manage interest rate risk going forward and continues to perform well on measures such as cash flow testing. Athene is a reputable company with strong financial ratings. The products are sold through a network of independent financial advisors (like The Annuity Expert). MAY LOSE VALUE. The principal sources of information used in the analysis are described in the Applicable Criteria. Overall, Athene Annuity is a solid choice for anyone looking for a reliable and reputable annuity company. At the same time, Athene has moved into a leading market position in key business lines and materially increased its operating scale. Numbers in parentheses accompanying applicable model(s) contain hyperlinks to criteria providing description of model(s). Louis Silvers james.peavy@ambest.com, Internet Explorer presents a security risk. Welcome to Athene Connect - Leading Annuity Provider To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. Athene Annuity Review | SmartAsset.com The term financial professional is not intended to imply engagement in an advisory business with compensation unrelated to sales. Athene Annuity and Life Company offers annuities and life insurance products to seniors who are planning their retirement If you are already saving for retirement, if you're under 60 and don't plan on needing your annuity soon, or if you are worried your savings may run out someday, an annuity might be a good option for you My former role was training financial advisors, including for a Fortune Global 500 insurance company. You can review our list of the best life insurance companies for what we think are better options.. Learn more about what these financial ratings mean. Depending on the product, the bonus can range from 2% to 10% of your initial premium. Copyright 2008-2023|EffortlessInsurance.com|113 Cherry Street, #37960 Seattle, Washington 98104-2205|Privacy Policy|Terms & Conditions|CCPA. The institutional channel includes reinsurance and group annuity contracts related to pension group annuities. Fitch also feels that Athene's ACRA entities allow the company to continue to fund growth while reducing the capital constraints associated with acquiring new business. Reserves Required: Direct: $106.32 billion Not all reinsurance products or structures offered are available in all jurisdictions. Athene's improving business profile is driven by the company's continued expansion into a broader range of product lines, including the pension risk transfer market, and expansion of its distribution channels beyond independent marketing organizations. Athene Annuity & Life Assurance Company - Company Profile - A.M. Best Athene has a track record of strong earnings driven by favorable earning spreads and operating profitability, despite the challenges related to the persistent low interest rate environment and high competitive pressures. The revision of the Rating Outlook to Stable reflects Fitch's expectations that while investment losses will increase over the next three years, earnings will remain above rating sensitivities and within criteria guidelines for the current rating level. Can I surrender or withdraw money from my Athene annuity? Fixed Annuities: Fixed annuities provide a guaranteed interest rate for a specified period, offering stability and predictable income. So, is Athene Annuity a good company? We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider. Payment obligations and guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Athenes major products lie with its annuity options. The company offers both fixed and variable annuities, as well as life insurance products. Athene Co-Invest Reinsurance Affiliate International Ltd. Athene Co-Invest Reinsurance Affiliate 1A Ltd. Athene Annuity & Life Assurance Company of New York. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. Athene Annuity & Life Company - Profile and Review - AnnuityAdvantage You can use our free quote tool above to find and compare rates for life insurance and annuities to see how much you could save today. Athenes annuities may be a good option for you, but the only way to know for sure is to assess where you are, what you need, and what type of annuity or life insurance policy will help with that the most. Athene, which is focused on the pension group annuity, funding agreement, fixed indexed and fixed annuity market segments, is the consolidation of the organizations U.S. operating companies, along with its affiliated reinsurance companies domiciled in Bermuda. Powered by Apollo. Company Overview Learn More Athene is not one of our top-rated life insurance companies. Athenes Fixed Indexed Annuities offers tax-deferred growth potential linked to one or more underlying indexes while providing downside protection from market declines. Athene Life Insurance Review - Investopedia Athene Co-Invest Reinsurance Affiliate International Ltd. Athene Co-Invest Reinsurance Affiliate 1A Ltd. Athene Co-Invest Reinsurance Affiliate 1B Ltd. For information on the proper use of Bests Credit Ratings, Bests Performance Assessments, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments. These are known to typically perform well, but the annuity does come with another option in the form of a fixed account. Answering these five questions can help lead to more informed decision making about adding annuities to a retirement plan. For a full explanation of an annuity, please contact your insurance professional to see the Certificate of Disclosure for costs and complete details. This rate is set for a specific amount of time in an annuity contract. Allianz Annuity Review - Forbes Advisor S&P rating as of December 2022 (A+, 5th highest out of 21), Fitch rating as of May 2023 (A+, 5th highest of 19), A.M. Best rating as of May 2023 (A, 3rd highest of 16) and Moodys rating as of July 2022 (A1, 5th highest of 21). Fitch Ratings - Chicago - 25 Feb 2021: Fitch Ratings has affirmed the Insurer Financial Strength (IFS) ratings of Athene Annuity & Life Assurance Company, Athene Annuity and Life Company, Athene Annuity & Life Assurance Company of New York, and Athene Life Re Ltd. (collectively referred to as Athene) at 'A' (Strong). Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). While this rate applies in most states, residents of Alaska, California, Connecticut, Delaware, Hawaii, Illinois, Indiana, Maryland, Minnesota, Montana, New Jersey, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Utah and Washington receive a 5% benefit. Total Liabilities: $4.40 billion West Des Moines, IA 50266, Call: 888-ANNUITY (888-266-8489) These companies are not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. Is Athene Annuity FDIC Insurance? Athene Annuity & Life Insurance Co. Ratings & Review 2023 What is Athene Annuity's customer service number? Pledged assets and funds in trust (restricted assets) total $26.8 billion and net reserve liabilities of $184.9 billion as of March 31, 2023. Also, scroll over any county to learn about that region's small business statistics. Annuity Review of the Athene Performance Elite 10 | AnnuityAdvantage Otherwise, there are no annual contract fees. DashboardAssociates About Athene Our Products Annuities 101 Fixed Indexed Annuities (FIAs) Registered Index-Linked Annuities (RILAs) Fixed Annuities Immediate Annuities Our Products Protecting savings in turbulent times. One way to ensure that your returns will be unimpressive is by investing in the one-year interest rate guaranteed fixed account paired with Agility annuities. These include: What are the benefits of Athene annuities? For financial professional use only. BBB Rating & Accreditation A+ This business is not BBB Accredited Search for Accredited Businesses in this category Years in Business: 27 This rating reflects BBB's opinion about the entire. Fitch Ratings - Chicago - 25 Feb 2021: Fitch Ratings has affirmed the Insurer Financial Strength (IFS) ratings of Athene Annuity & Life Assurance Company, Athene Annuity and Life Company, Athene Annuity & Life Assurance Company of New York, and Athene Life Re Ltd. (collectively referred to as Athene) at 'A' (Strong). Annuity and Insurance Agency1050 Crown Pointe ParkwayAtlanta, GA 30338, AnnuitiesLife InsuranceTravel InsuranceLong Term Care InsuranceShop InsuranceGet a Free QuoteContact Us, About usPrivacy PolicyHow We WorkCustomer Reviews, Annuity Calculator: Your Pathway to Guaranteed Lifetime Retirement Income. Annuity Company Ratings Annuity company ratings are important to buyers because annuities aren't backed by the federal government, but rather by the insurance companies that issue them. Telephone: 1-800-753-4824, (212) 908-0500. Athene Annuity & Life Assurance Company - Company Profile - Best's Credit Rating Center Athene Annuity & Life Assurance Company BestLink AMB #: 006175 NAIC #: 61492 FEIN #: 440188050 Administrative Office 7700 Mills Civic Parkway West Des Moines, Iowa 50266 United States Web: www.athene.com Phone: 888-266-8489 Fax: 877-411-3020 Because the return potential of this annuity product is dependent on the index you choose and its unpredictable performance, theres really no way to assume anything safely. 2As of March 31, 2023. This annuity offers 10.00% as an upfront bonus. With timely insights, in-depth product information and client-approved materials,our business-building toolkits are designed to help you and your clients do more. At the same time, Fitch has also affirmed the Long-Term Issuer Default Rating (IDR) of Athene Holding Ltd. at 'BBB+'.