Ties grow between Athene and Jackson National
June 24, 2020 by Editorial Staff
Athene’s $500 million investment and $1.25 billion reinsurance deal with Jackson National is expected to boost Jackson’s Risk-Based Capital (RBC) ratio by about 80 percentage points.
Athene Holding Ltd. has agreed to reinsure Jackson National Life’s $27.6 billion in-force fixed and fixed index annuity liabilities, effective from June 1, 2020. Athene will pay Jackson a ceding commission of $1.25 billion. Jackson will continue to provide account administration and services for the reinsured policies, a release said.