Published Aug. 19, 2013
The acquisition is expected to close in the fourth quarter, the company said.
The purchase includes Aviva’s U.S. life and annuity operations, and Athene said it would locate its U.S. headquarters for that business at Aviva’s base in West Des Moines, Iowa. The U.S. headquarters for Athene’s annuity reinsurance operations has been in Greenville, where Athene has around 120 employees.
Athene Annuity Spokesman Bill Free said in an email that employees would remain in Greenville after the U.S. headquarters is relocated to Iowa.
Athene Annuity is the former Liberty Life Insurance Co., which Athene Holding acquired from Royal Bank of Canada in 2010 for $628 million.
Athene CEO Jim Belardi said in a news release: “Athene is pleased that the Iowa Insurance Division has granted approval of our acquisition of Aviva USA. This is a transformative event for Athene, and we intend to continue our close working relationship with the IID as we complete this acquisition and integrate the two companies.”