The subsidiaries include Iowa-domiciled Aviva Life and Annuity Company, and New York-domiciled Aviva Life and Annuity Company of New York.
In addition, Athene has also completed the sale of Aviva USA’s life insurance operations to Presidential Life Insurance Company – USA, a wholly owned subsidiary of Commonwealth Annuity and Life Insurance Co. and part of the Global Atlantic Financial Group.
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Following the close of the acquisition, Athene has approximately $60bn in assets, making it a major fixed annuity company in the US.
Athene CEO, Jim Belardi, said: "Our acquisition of Aviva USA is a transformative event that significantly increases the scale of Athene’s fixed annuity business and we are excited about our prospects for further profitable growth.
"Aviva’s operational capabilities and talented workforce will enable Athene to solidify our position as a market-leading provider of retirement solutions to policyholders and distributors," Belardi added.
Aviva USA has been renamed Athene USA, which is the parent for Athene’s US operations and is now headquartered in West Des Moines, Iowa.
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