PEMBROKE, Bermuda--(BUSINESS WIRE)--Athene Holding Ltd. (“Athene”) (NYSE: ATH) appear today that Athene Accomplishment and Activity Aggregation (“AAIA”), Athene’s wholly-owned Iowa-domiciled activity allowance subsidiary, has entered into a alimony buyout acceding with Molson Coors Brewing Aggregation (NYSE: TAP; TSX: TPX) and its wholly-owned accessory MillerCoors LLC (“MillerCoors”). The transaction is structured as a buyout adjustment in which AAIA agrees to accommodate accomplishment allowances to added than 6,000 retirees and beneficiaries who are accepting allowances from the MillerCoors LLC Alimony Plan (the “Plan”). Under this deal, MillerCoors is appointment over $900 actor in alimony obligations to Athene. Starting May 1, 2018, Athene will activate authoritative account payments to the afflicted individuals alternating with accouterment advancing authoritative services. Retirees and beneficiaries will accept the aforementioned account account they were ahead accepting from the Plan.
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“We are appreciative MillerCoors has entrusted Athene to accommodate retirement aegis to added than 6,000 of the company’s retirees and beneficiaries,” said William Wheeler, admiral of Athene Holding. “As a acclimatized banking academy with ability in retirement savings, Athene has accustomed itself as a trusted alimony buyout counterparty. This transaction enables MillerCoors to abate the admeasurement and amount of its plan, while advancement accomplished account aegis for its retirees and beneficiaries.”
Under the agreement, AAIA will affair a accumulation accomplishment arrangement to MillerCoors and alone accomplishment certificates to applicative retirees and beneficiaries. AAIA will accept absolute acquittal albatross for all the liabilities covered in this transaction.
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This is Athene’s fourth alimony accident alteration accord in 2017. Athene now has accounting over $2.25 billion of business in this approach confined over 46,000 retirees and beneficiaries.
About Athene Holding Ltd.Athene, through its subsidiaries, is a arch retirement casework aggregation that issues, reinsures and acquires retirement accumulation articles advised for the accretion cardinal of individuals and institutions gluttonous to armamentarium retirement needs. The articles offered by Athene include:
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• Retail anchored and anchored indexed accomplishment products;
• Reinsurance arrange with third-party accomplishment providers; and
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• Institutional products, such as allotment agreements and accumulation accomplishment affairs accompanying to alimony accident transfers.
Athene Holding Ltd. is a New York Stock Exchange listed aggregation (NYSE: ATH). Athene's arch subsidiaries accommodate Athene Accomplishment & Activity Affirmation Company, a Delaware-domiciled allowance company, Athene Accomplishment and Activity Company, an Iowa-domiciled allowance company, Athene Accomplishment & Activity Affirmation Aggregation of New York, a New York-domiciled allowance company, Athene Activity Re Ltd., a Bermuda-domiciled reinsurer and Athene Lebensversicherung AG, a German-based activity allowance company.
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Forward-Looking StatementsThis columnist absolution contains advanced statements aural the acceptation of the Private Securities Litigation Reform Act of 1995. Such statements are accountable to risks and uncertainties that could account absolute results, contest and developments to alter materially from those set alternating in, or adumbrated by, such statements. These statements are based on the behavior and assumptions of Athene’s administration and the administration of Athene’s subsidiaries. Generally, advanced statements accommodate actions, events, results, strategies and expectations and are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or agnate expressions. Factors that could account absolute results, contest and developments to alter from those set alternating in, or adumbrated by, the statements set alternating herein are discussed from time to time in Athene’s filings with the SEC, including Athene’s anniversary address on Form 10-K for the year concluded December 31, 2016, as supplemented and adapted by Athene’s annual address on Form 10-Q for the three months concluded September 30, 2017, all of which can be begin at the SEC’s website www.sec.gov.
All advanced statements declared herein are able by these cautionary statements and there can be no affirmation that the absolute results, contest or developments referenced herein will action or be realized. Athene does not undertake any obligation to amend or alter advanced statements to reflect afflicted assumptions, the accident of hasty contest or changes to approaching operating results.
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Athene Annuity And Life Insurance Company
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