Savings Plan Information Line: 800-444-4015. Copy and paste multiple symbols separated by spaces. You are free to opt out any time or opt in for other cookies to get a better experience. Media Marcia Kent+1 515 342 3918mkent@athene.com, Investors Noah Gunn +1 441 279 8534+1 646 768 7309ngunn@athene.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/athene-announces-4-9-billion-pension-risk-transfer-transaction-with-lockheed-martin-301347561.html. Advertisement. Athene Holding Ltd. (Athene) (NYSE: ATH), a leading retirement In 2019, $1.9 Billion was transferred to MetLife; in 2020 Metropolitan Life Tower (a MetLife subsidiary) took on $1.4 Billion in pension liabilities, and in 2018 $800 Million was transferred to Athene. committed to issuing a group annuity contract covering the aggregate Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. Klicken Sie auf Einstellungen verwalten, um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Since these providers may collect personal data like your IP address we allow you to block them here. amended, and Section 21E of the Securities Exchange Act of 1934, as Sie knnen Ihre Einstellungen jederzeit ndern. "As a leader in the pension risk transfer market, Athene has a track record of completing large-scale transactions that help plan sponsors meet their pension obligations while providing income security for their plan participants and their spouses and beneficiaries. The U.S. weapons maker has purchased group annuity contracts from Athene Holding Ltd . We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website. Team Athena UK | 1,458 followers on LinkedIn. We may request cookies to be set on your device. and made key changes to the U.S. tax law; litigation (including class While Lockheed is the world's largest defense contractor, their major . In total, the agreements transfer $10 billion in pension obligations for over 40,000 Lockheed Martin plan participants to Athene. failures; the continued availability of capital; new accounting rules or We have joined forces, as four companies who are world leaders in our own rights, merging our strengths and specialisations to deliver a new approach to space and innovation for the UK industry. Retirees for Justice Inc. | 175 West Putnam Avenue, 2nd Floor | Greenwich, CT 06830 | (203) 993-6011 | info@retireesforjustice.org, Mailing Address: | P.O. ATHENE HOLDING LTD.--(BUSINESS WIRE)-- Athene Holding Ltd. ("Athene") (NYSE:ATH), a leading retirement services company, announced the close of an $800 million pension risk transfer transaction . financial strength ratings; our ability to manage our business in a Generally, forward-looking statements include actions, events, results, strategies and expectations and are often identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," "should," or "continues" or similar expressions. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. "Amid a backdrop of continuing macro recovery, we are seeing companies place increasing emphasis on reducing pension risk in order to focus on core business," said Bill Wheeler, President of Athene. Password. In 2018, Athene insured approximately $800 million in pension obligations for more than 9,000 of Lockheed Martin's retirees and their beneficiaries. Lockheed Martin developed the original Athena 1 and Athena 2 in the 1990s to launch small payloads for government and commercial customers. BUSINESS WIRE)--Athene Holding Ltd. ("Athene") (NYSE: ATH), a leading retirement services company, announced the close of an $800 million pension risk transfer transaction with Lockheed Martin . Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. "Amid a backdrop of continuing macro recovery, we are seeing companies place increasing emphasis on reducing pension risk in order to focus on core business," said Bill Wheeler, President of Athene. and developments to differ include, without limitation: the accuracy of Safe Harbor for Forward-Looking StatementsThis press release contains, and certain oral statements made by Athene's representatives from time to time may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Development began at the Lockheed Corporation in 1993, where the design was known as the Lockheed Launch Vehicle. Skip to main content. this type of transaction offers plan sponsors a strategic solution the Such statements are subject to risks and uncertainties that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, results. If you have questions related to the 401 (k) Plan, please contact the Savings Plan Information Line. ability to de-risk now, while providing the flexibility to convert to a These statements are based on the beliefs and assumptions of Athene's management and the management of Athene's subsidiaries. On Jan. 1, 2022, Athene will begin paying and administering the retirement benefits of certain retirees and beneficiaries in the Lockheed Martin Corporation Salaried Employee Retirement. Athena is the UK's new national team in space formed by Serco, Inmarsat, CGI UK and Lockheed Martin UK. Athene Holding Ltd. agreed to take on $4.9 billion of pension obligations from defense contractor Lockheed Martin Corp., the largest such deal ever for the insurer. Forgot My User Name / Forgot My Password Register (First-time user) Need help? Annuity contracts and group annuity contracts are issued by Athene Annuity & Life Assurance Company of New York (68039), Pearl River, NY, in New York state. Lockheed argues ATHENA is cost-effective and can complement the Air Force's other counter-UAV investments. year ended December 31, 2017, and our quarterly report on Form 10-Q for Welcome to Athene. This buy-in transaction will hedge the financial risk associated with approximately 9,000 retirees covered under one of Lockheed Martins pension plans. or similar expressions. All forward-looking statements described herein are qualified by these Lockheed Martin is showing off new fiber-optic laser technology capable of frying the engine of a truck located more than a mile away. Such statements are subject to risks and uncertainties that About Lockheed Martin For more information, please visit www.athene.com. March 22, 2017. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. Media Marcia Kent+1 515 342 3918mkent@athene.com, Investors Noah Gunn +1 441 279 8534+1 646 768 7309ngunn@athene.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/athene-announces-4-9-billion-pension-risk-transfer-transaction-with-lockheed-martin-301347561.html. To learn more about Athene's PRT solutions, visit www.athene.com/PRT. pension risk transfers. transfer transaction with Lockheed Martin (NYSE: LMT), a global security could cause actual results, events and developments to differ materially Thats why Athene is Founded in 2009, Athene is Driven to Do More for our policyholders, business. from those set forth in, or implied by, such statements. About Lockheed Martin Athene does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. believes, expects, intends, anticipates, plans, seeks, For more information, please visitwww.athene.com. March 5, 2015. By Bloomberg News. of the Tax Cuts and Jobs Act, which was enacted on December 22, 2017, The US Air Force (USAF) has tested Lockheed Martin 's Advanced Test High Energy Asset ( Athena) laser weapon system at a test range at Fort Sill, Oklahoma, US. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer. Due to security reasons we are not able to show or modify cookies from other domains. Perhaps the most contentious addition to the team, supporting some 20,000 employees in the UK, the British arm of the largest US military behemoth Lockheed Martin will most certainly provide engineering, industry expertise, and influence to Athena. We do not undertake any obligation to update or revise |, IDEX Corp. As structured, The transaction announced today is the second pension risk transfer transaction Lockheed Martin has signed with Athene, following a transaction in 2018 whereby Athene insured approximately $800 million in pension obligations for more than 9,000 of Lockheed Martin's retirees and their beneficiaries. The ACRA. the United States close to and in retirement. Founded in 2009, Athene is Driven to Do More for our policyholders, business. Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacturing, integration and sustainment of advanced technology systems, products and services. hedge the financial risk associated with approximately 9,000 retirees Athene is a leader in the pension risk transfer industry, responsible Athene utilized its strategic capital vehicle, Athene Reinsurance Co-investment ("ACRA"), to support the completion of this transaction. responsibility for overall plan administration. We need 2 cookies to store this setting. highly regulated industry; regulatory changes or actions; the impact of Click on the different category headings to find out more. HAMILTON, Bermuda, Aug. 3, 2021 /PRNewswire/ --Athene Holding Ltd. ("Athene") (NYSE: ATH), a leading financial services company specializing in retirement solutions, announced the close of a significant pension risk transfer (PRT) transaction with Lockheed Martin (NYSE: LMT), a global security and aerospace leader. Athena is a core component of the Lockheed Martin launch vehicle family which also includes the Titan IV, Titan II, MSLS, Atlas and Proton vehicles. Source: lovebelfast.co.uk. potential future market conditions., Wheeler continued: As a leader in pension risk transfers, Athene is HAMILTON, Bermuda, Aug. 3, 2021 /PRNewswire/ -- Athene Holding Ltd. announced the close of a significant pension risk transfer transaction with Lockheed Martin, a global security and. The pace of industry activity suggests that 2021 will be the highest year on record for the U.S. market. Athene Holding Ltd. (Athene) (NYSE: ATH), a leading retirement services company, announced the close of an $800 million pension risk transfer transaction with Lockheed Martin (NYSE: LMT), a global security and aerospace leader, in December 2018. "As a leader in the pension risk transfer market, Athene has a track record of completing large-scale transactions that help plan sponsors meet their pension obligations while providing income security for their plan participants and their spouses and beneficiaries. USAF Space Test Program satellites Picosat, Sapphire and PCSat were deployed into an 790 . Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacturing, integration and sustainment of advanced technology systems, products and services. Lockheed Martin transferred $4.9 billion in pension obligations to two of Bermuda based Athenes subsidiaries, Athene Annuity and Life Company and Athene Annuity & Life Assurance Company of New York. filings with the SEC, including our annual report on Form 10-K for the About Athene Athene, through its subsidiaries, is a leading retirement services company with total assets of $205.7 billion as of March 31, 2021 and operations in the United States, Bermuda, and Canada. Lockheed Martin's logo is seen during Japan Aerospace 2016 air show in Tokyo, Japan, October 12, 2016. . services company, announced the close of an $800 million pension risk The transaction announced today is the second pension risk transfer transaction Lockheed Martin has signed with Athene, following a transaction in 2018 whereby Athene insured approximately $800 million in pension obligations for more than 9,000 of Lockheed Martin's retirees and their beneficiaries. Athene does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Since its first transaction with Lockheed Martin in 2018, Athene has agreed to provide annuity benefits for over 40,000 Lockheed Martin plan participants, totaling $10 billion in pension. 08/03/2021 EDT Send by mail : This large-scale transaction comes as the U.S. pension risk transfer market has seen a significant increase in transaction volume beginning in the second half of 2020 and continuing into 2021.
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