Athene Holding Closes Acquisition Of Aviva USA

(RTTNews) - Athene Holding Ltd. said Wednesday it has closed the acquisition of British insurer Aviva plc's (AV, AV.L) Aviva USA Corp. and its subsidiaries, including Iowa-domiciled Aviva Life and Annuity Co., and New York-domiciled Aviva Life and Annuity Co. of New York, for $1.55 billion.

Athene also said it completed the sale of Aviva USA's life insurance operations to Presidential Life Insurance Co. - USA, a subsidiary of Commonwealth Annuity and Life Insurance Co. and part of the Global Atlantic Financial Group. Terms of that deal were not disclosed.

Following the deal's close, Athene has about $60 billion in assets, making it one of the largest fixed annuity companies in the US.

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.

Athene Holding is owned by several institutional investors, with its largest shareholder being AP Alternative Assets L.P.