ATHENE HOLDING LTD. Athene Life Re Ltd.
Statutory Financial Statements (Unaudited)
March 31, 2024
The accompanying unconsolidated statements of ALRe have been prepared by management based on the financial reporting provisions of The Insurance Act 1978, amendments thereto and the Insurance Account Rules 2016 (the "Bermuda Legislation").
STATUTORY BALANCE SHEET
Athene Life Re Ltd.
As atMarch 31, 2024 and December 31, 2023 FORM 1SFS Expressed in ['000s] United States Dollars
STMT.
LINE No.
1 | CASH AND CASH EQUIVALENTS |
2 | QUOTED INVESTMENTS: |
(a) | Bonds and debentures |
i. Held to maturity | |
ii. Other | |
(b) | Total Bonds and Debentures |
(c) | Equities |
i. Common Stocks | |
ii. Preferred Stocks | |
iii. Mutual Funds | |
(d) | Total Equity Investments |
(e) | Other Quoted Investments |
(f) | Total Quoted Investments |
3 | UNQUOTED INVESTMENTS: |
(a) | Bonds and debentures |
i. Held to maturity | |
ii. Other | |
(b) | Bonds and Debentures |
(c) | Equities |
i. Common Stocks | |
ii. Preferred Stocks | |
iii. Mutual Funds | |
(d) | Total Equity Investments |
(e) | Other Unquoted Investments |
(f) | Total Unquoted Investments |
4 | INVESTMENTS IN AND ADVANCES TO AFFILIATES (EQUITY METHOD): |
(a) | Unregulated entities that conduct ancillary services |
(b) | Unregulated non-financial operating entities |
(c) | Unregulated financial operating entities |
(d) | Regulated non-insurance financial operating entities |
(e) | Regulated insurance financial operating entities |
(f) | Total investments in affiliates (equity method) |
(g) | Advances to affiliates |
(h) | Total investments in and advances to affiliates (equity method) |
5 | INVESTMENTS IN MORTGAGE LOANS ON REAL ESTATE: |
(a) | First Liens |
(b) | Other than First Liens |
(c) | Total Investments in Mortgage Loans on Real Estate |
6 | POLICY LOANS |
7 | REAL ESTATE: |
(a) | Occupied by the company (less encumbrances) |
(b) | Other properties (less encumbrances) |
(c) | Total real estate |
8 | COLLATERAL LOANS |
General & Long-Term Business
Unconsolidated
2024 2023
('000s)('000s)
1,327,606 | 2,466,521 | |
13,105,840 | 11,995,727 | |
- | - | |
13,105,840 | 11,995,727 | |
421,376 | 421,376 | |
21,729 | 17,567 | |
- | - | |
443,105 | 438,943 | |
- | - | |
13,548,945 | 12,434,670 | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
1,335,941 | 1,354,941 | |
1,335,941 | 1,354,941 | |
- | - | |
4,479 | 5,494 | |
301,268 | 497,091 | |
- | - | |
4,980,441 | 4,516,395 | |
5,286,188 | 5,018,980 | |
3,445,279 | 3,118,568 | |
8,731,467 | 8,137,548 | |
372,085 | 358,692 | |
- | - | |
372,085 | 358,692 | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - |
2
STATUTORY BALANCE SHEET
Athene Life Re Ltd. | ||
As at | March 31, 2024 and December 31, 2023 | FORM 1SFS |
Expressed in ['000s] | United States Dollars |
STMT. LINE No.
General & Long-Term Business
Unconsolidated
2024 2023
('000s)('000s)
9
10
(a)
(b)
(c)
(d)
11
(a)
(b)
(c)
(d)
(e)
12
13
INVESTMENT INCOME DUE AND ACCRUED
ACCOUNTS AND PREMIUMS RECEIVABLE In course of collection
Deferred - not yet due
Receivables from retrocessional contracts Total accounts and premiums receivable
REINSURANCE BALANCES RECEIVABLE Foreign affiliates
Domestic affiliates Pools & associations All other insurers
Total reinsurance balances receivable
FUNDS HELD BY CEDING REINSURERS
SUNDRY ASSETS:
164,416
1,447
-
-
1,447
-
280,255
-
80,325
360,580
26,320,837
124,267
1,120
-
-
1,120
-
256,503
-
403,386
659,889
27,425,605
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(k)
14
(a)
(b)
(c)
(d)
15
16
(a)
(b)
(c)
(d)
Derivative instruments
Segregated accounts companies - long-term business - variable annuities Segregated accounts companies - long-term business - others Segregated accounts companies - general business
Deposit assets
Deferred acquisition costs
Net receivables for investments sold
Deferred intercompany realized gains/losses
Deferred Tax Assets
Total sundry assets
LETTERS OF CREDIT, GUARANTEES AND OTHER INSTRUMENTS Letters of credit
Guarantees Other instruments
Total letters of credit, guarantees and other instruments
TOTAL
INSURANCE RESERVES, OTHER LIABILITIES AND STATUTORY CAPITAL AND SURPLUS
INSURANCE RESERVES
UNEARNED PREMIUM RESERVE
Gross unearned premium reserves
Less: Ceded unearned premium reserve
- Foreign affiliates
- Domestic affiliates
- Pools & associations
- All other insurers
Total ceded unearned premium reserve
Net unearned premium reserves
247,025 | 230,204 | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
671,936 | 334,445 | |
420,031 | 372,823 | |
6,153 | 1,492 | |
1,345,145 | 938,964 | |
- | - | |
- | - | |
- | - | |
- | - | |
53,508,469 | 53,902,217 |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - |
3
STATUTORY BALANCE SHEET
Athene Life Re Ltd. | ||
As at | March 31, 2024 and December 31, 2023 | FORM 1SFS |
Expressed in ['000s] | United States Dollars |
STMT.
LINE No.
17 | LOSS AND LOSS EXPENSE PROVISIONS: |
(a) | Gross loss and loss expense provisions |
(b) | Less : Reinsurance recoverable balance |
i. Foreign affiliates | |
ii. Domestic affiliates | |
iii. Pools & associations | |
iv. All other insurers | |
(c) | Total reinsurance recoverable balance |
(d) | Net loss and loss expense provisions |
18 | OTHER INSURANCE RESERVES |
19 | TOTAL GENERAL BUSINESS - INSURANCE RESERVES |
LONG-TERM BUSINESS INSURANCE RESERVES | |
20 | RESERVES FOR REPORTED CLAIMS |
21 | RESERVES FOR UNREPORTED CLAIMS |
22 | POLICY RESERVES - LIFE |
23 | POLICY RESERVES - ACCIDENT AND HEALTH |
24 | POLICYHOLDER'S FUNDS ON DEPOSIT |
25 | LIABILITY FOR FUTURE POLICYHOLDER DIVIDENDS |
26 | OTHER LONG-TERM BUSINESS INSURANCE RESERVES |
27 | TOTAL LONG-TERM BUSINESS - INSURANCE RESERVES |
(a) | Total Gross Long-Term Business Insurance Reserves |
(b) | Less: Reinsurance Recoverable Balance: |
(i) Foreign Affiliates | |
(ii) Domestic Affiliaties | |
(iii) Pools and Associations | |
(iv) All Other Insurers | |
(c) | Total Reinsurance Recoverable Balance |
(d) | Net Long-Term Business Insurance Reserves |
General & Long-Term Business
Unconsolidated
2024 | 2023 | |
('000s) | ('000s) | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
- | - | |
26,462 | 27,452 | |
- | - | |
12,452,676 | 12,711,190 | |
- | - | |
- | - | |
- | - | |
- | - | |
35,838,020 | 36,574,693 | |
- | - | |
23,358,882 | 23,836,051 | |
- | - | |
- | - | |
23,358,882 | 23,836,051 | |
12,479,138 | 12,738,642 |
OTHER LIABILITIES
28 | INSURANCE AND REINSURANCE BALANCES PAYABLE |
29 | COMMISSIONS, EXPENSES, FEES AND TAXES PAYABLE |
30 | LOANS AND NOTES PAYABLE |
31 | (a) INCOME TAXES PAYABLE |
(b) DEFERRED INCOME TAXES | |
32 | AMOUNTS DUE TO AFFILIATES |
33 | ACCOUNTS PAYABLE AND ACCRUED LIABILITIES |
34 | FUNDS HELD UNDER REINSURANCE CONTRACTS |
35 | DIVIDENDS PAYABLE |
6,566
-
770,909
-
- 15,527 285,061 23,664,470
-
3,460
-
761,366
-
-
91,589
373,356
24,112,319
-
4
STATUTORY BALANCE SHEET
Athene Life Re Ltd.
As atMarch 31, 2024 and December 31, 2023 FORM 1SFS Expressed in ['000s] United States Dollars
STMT. LINE No.
36
(a)
(b)
(c)
(d)
(f)
(h)
37
(a)
(b)
(c)
(d)
38 39
SUNDRY LIABILITIES:
Derivative instruments
Segregated accounts
Deposit liabilities
Net payable for investments purchased
Other sundry liabilities
Total sundry liabilities
LETTERS OF CREDIT, GUARANTEES AND OTHER INSTRUMENTS Letters of credit
Guarantees Other instruments
Total letters of credit, guarantees and other instruments
TOTAL OTHER LIABILITIES
TOTAL INSURANCE PROVISIONS AND OTHER LIABILITIES
STATUTORY CAPITAL AND SURPLUS
General & Long-Term Business
Unconsolidated
2024 2023
('000s)('000s)
986,238 | 459,657 | |
- | - | |
- | - | |
331,300 | 875,244 | |
15,191 | 12,644 | |
1,332,729 | 1,347,545 | |
- | - | |
- | - | |
- | - | |
- | - | |
26,075,262 | 26,689,635 | |
38,554,400 | 39,428,277 |
40 | TOTAL STATUTORY CAPITAL AND SURPLUS | 14,954,069 |
41 | TOTAL | |
53,508,469 |
TRUE
14,473,940
53,902,217
TRUE
5
STATUTORY STATEMENT OF INCOME
Athene Life Re Ltd. | ||
For the year ending | March 31, 2024 and March 31, 2023 | FORM 2SFS |
Expressed in ['000s] | United States Dollars |
STMT.
LINE No.
GENERAL BUSINESS UNDERWRITING INCOME | |
1 | GROSS PREMIUMS WRITTEN: |
(a) Direct gross premiums written | |
(b) Assumed gross premiums written | |
(c) Total gross premiums written | |
2 | REINSURANCE PREMIUMS CEDED |
- NET PREMIUMS WRITTEN
4 | INCREASE (DECREASE) IN UNEARNED PREMIUMS |
- NET PREMIUMS EARNED
6 | OTHER INSURANCE INCOME |
7 | |
GENERAL BUSINESS UNDERWRITING EXPENSES | |
8 | NET LOSSES INCURRED AND NET LOSS EXPENSES INCURRED |
9 | COMMISSIONS AND BROKERAGE |
10 |
- NET UNDERWRITING PROFIT (LOSS) - GENERAL BUSINESS LONG-TERM BUSINESS UNDERWRITING INCOME
- GROSS PREMIUMS AND OTHER CONSIDERATIONS:
- Direct gross premiums and other considerations
- Assumed gross premiums and other considerations
- Total gross premiums and other considerations
- PREMIUMS CEDED
- NET PREMIUMS AND OTHER CONSIDERATIONS:
- Life
- Annuities
- Accident and health
- Total net premiums and other considerations
- OTHER INSURANCE INCOME
16
DEDUCTIONS
- CLAIMS - LIFE
- POLICYHOLDERS' DIVIDENDS
- SURRENDERS
- MATURITIES
General and Long-Term
Business
Unconsolidated
2024 | 2023 | |
('000) | ('000) | |
- | ||
- | ||
- | - | |
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | ||
- | - | |
- | ||
- | ||
1,076,465 | 986,686 | |
1,076,465 | 986,686 | |
626,081 | ||
14,047 | ||
- | ||
- | ||
450,384 | 972,639 | |
- | - | |
450,384 | 972,639 | |
- | ||
- | ||
450,384 | ||
972,639 | ||
- | ||
- | ||
- | ||
- | ||
432,043 | ||
912,363 | ||
- | ||
- |
6
STATUTORY STATEMENT OF INCOME
Athene Life Re Ltd. | ||||||
For the year ending | March 31, 2024 and March 31, 2023 | FORM 2SFS | ||||
Expressed in ['000s] | United States Dollars | |||||
STMT. | General and Long-Term | |||||
Business | ||||||
LINE No. | Unconsolidated | |||||
2024 | 2023 | |||||
('000) | ('000) |
- ANNUITIES
- ACCIDENT AND HEALTH BENEFITS
- COMMISSIONS
- OTHER
25
26INCREASE (DECREASE) IN POLICY RESERVES:
- Life
- Annuities
- Accident and health
- Total increase (decrease) in policy reserves
27
NET UNDERWRITING PROFIT (LOSS) - LONG-TERM
- BUSINESS
-
COMBINED NET UNDERWRITING PROFIT (LOSS) BEFORE THE UNDERNOTED ITEMS
UNDERNOTED ITEMS - COMBINED OPERATING EXPENSES:
- General and administrative
- Personnel Costs
- Other
- Total combined operating expenses
- COMBINED INVESTMENT INCOME - NET
- COMBINED OTHER INCOME (DEDUCTIONS)
- COMBINED INCOME BEFORE TAXES
- COMBINED INCOME TAXES (IF APPLICABLE):
- Current
- Deferred
- Total
- COMBINED INCOME BEFORE REALIZED GAINS (LOSSES)
- COMBINED REALIZED GAINS (LOSSES)
- COMBINED INTEREST CHARGES
- NET INCOME
43,495 | 52,933 | |
- | - | |
18,343 | 13,058 | |
(7,043) | (14,492) | |
486,838 | 963,862 | |
- | - | |
63,178 | 126,456 | |
- | - | |
63,178 | 126,456 | |
550,016 | 1,090,318 | |
(99,632) | (117,679) | |
(99,632) | (117,679) | |
7,080 | 8,356 | |
- | - |
- (7,422)
7,080934
270,737 | 159,921 | |
311,115 | (89,798) | |
475,140 | (48,490) | |
- | - | |
- | - | |
- | - | |
475,140 | (48,490) | |
60,306 | (50,017) | |
8,773 | 14,028 | |
526,673 | (112,535) |
7
STATUTORY STATEMENT OF CAPITAL AND SURPLUS
Athene Life Re Ltd.
For the year ending | March 31, 2024 and March 31, 2023 |
Expressed in ['000s] | United States Dollars |
STMT. | |
LINE No. |
- STATUTORY CAPITAL
-
Capital stock
(i) Common shares
authorized | 3,000,000,000 |
value | 1.00 |
fully paid | 247,024,000 |
(ii) Preferred shares | |
authorized | - |
value | - |
fully paid | - |
aggregate liquidation value for - | |
2024 | - |
2023 | - |
(iii) Treasury shares | |
repurchased | - |
value | - |
shares of par each issued and shares
shares of par each issued and shares
shares of par each issued
FORM 8SFS
General and Long-Term
Unconsolidated
2024 2023
('000s)('000s)
2,420 | 2,420 |
(b) | Contributed surplus |
(c) | Any other fixed capital |
(i) Hybrid capital instruments | |
(ii) Guarantees and others | |
(iii) Total any other fixed capital |
8,862,033
-
-
-
8,091,450
-
-
-
(d) | Total Statutory Capital |
2 | STATUTORY SURPLUS: |
(a) | Statutory Surplus - Beginning of Year |
(b) | Add: Income for Year |
(c) | Less: Dividends paid and payable |
(d) | Add (Deduct) change in unrealized appreciation (depreciation) of investments |
(e) | Add (Deduct) change in non-admitted assets |
(f) | Add (Deduct) change in appraisal of real estate |
(g) | Add (Deduct) change in any other statutory capital |
(h) | Statutory Surplus - End of Year |
3 | MINORITY INTEREST |
4 | TOTAL STATUTORY CAPITAL AND SURPLUS |
8,864,453
5,808,902
526,673
-
-
-
-
(245,959)
6,089,616
-
14,954,069
8,093,870
4,990,547
(112,535)
-
-
-
-
12,243
4,890,255
-
12,984,125
Line 2g | Change in any other statutory capital |
Line 4 | Total Statutory Capital & Surplus |
Change in other statutory capital
and surplus
Refer to Schedule V (g)
8
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Disclaimer
Athene Holding Ltd. published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2024 18:33:01 UTC.
