Athene hails 2017 as milestone year

Athene Holding’s net income for the fourth quarter 2017 was $464 million, up on the $364 million it made in the fourth quarter 2016. Net income for the full-year 2017 was $1.4 billion, more than double the $768 million net income it made for the full-year 2016.

Adjusted operating income for the fourth quarter 2017 was $332 million, compared to adjusted operating income for the fourth quarter 2016 of $280 million. Adjusted operating income for the full-year 2017 was $1.1 billion, compared to adjusted operating income for the full-year 2016 of $728 million.

“2017 was a milestone year for Athene. In our first year of being public we executed on our growth initiatives, generated very strong financial results and set the stage for long-term strategic growth,” said Jim Belardi, chief executive officer of Athene.

“For the first time we executed in all four of our funding channels, including inorganic, and generated a record $11.5 billion of new deposits. Particularly notable was the extraordinary execution in our institutional channel, which generated $5.3 billion of new deposits. In December, we announced an agreement with Voya Financial to reinsure $19 billion of liabilities, a transaction that demonstrates our expertise and financial capability to provide creative, customized solutions to the life insurance industry. This is the next step in our plan to become a solutions provider to the overall financial services industry.”

Belardi concluded by saying that in 2018 Athene Holding will build on this momentum, continuing to expand and diversify its product portfolio, which in combination with its strong balance sheet will position the company well to continue to create significant shareholder value.