Iowa defends Athene pension risk transfer deal in Lockheed Martin lawsuit
December 16, 2025 by John Hilton
Iowa Attorney General Brenna Bird submitted a brief Wednesday in support of Lockheed Martin Corp. in a lawsuit over its choice of Athene Annuity and Life Co. in a pension risk transfer deal.
The brief, joined by attorneys general in nine additional states, equates the lawsuit claims as an attack on the efficacy of the state-based insurance regulation system.
Plaintiffs allege that Lockheed selected Athene as its annuity provider “in violation of their strict fiduciary responsibilities” and that “Athene was not the safest available option.”
Originally Posted at InsuranceNewsNet on Dec 15, 2025 by John Hilton.
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