Apollo-backed Athene sees 2016 accounting fix after IPO delayed
December 21, 2015 by KATHERINE CHIGLINSKY
(Bloomberg) — Athene Holding Ltd., the insurer with ties to Apollo Global Management LLC, said it expects to remediate a flaw in its accounting by early next year as management plans for an initial public offering.
“A tremendous amount of work has been completed on the actuarial material weakness, and testing is under way” to address the shortcomings, Chief Financial Officer Martin Klein said Thursday in a presentation discussing quarterly results. “We plan to be able to downgrade this to a significant deficiency early in ’16, after the completion of testing.” Click HERE to read article