Athene Holding Ltd Buys Aviva USA For $1.8B

December 22, 2012

Athene Holding Ltd., a Bermuda-based insurance holding company, will acquire Aviva plc’s U.S. annuity and life insurance operations, including Aviva Life and Annuity Company, based in Iowa, and Aviva Life and Annuity Company of New York.

Athene will acquire Aviva USA, which has approximately $56 billion of statutory admitted assets as of September 30, 2012, for a purchase price of $1.55 billion. The transaction is expected to close in 2013, subject to customary conditions and regulatory approvals.

“With this acquisition, Athene is a leader in the fixed annuity space,” said James R. Belardi, CEO of Athene. “The purchase of Aviva’s U.S. annuity business will add significant scale to our retail sales and reinsurance operations and provides Athene with best in class operational capabilities.”

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