Athene Expands Reach with New Block Reinsurance Deal
Athene Partners with Sony Life for Innovative Reinsurance Solution
Athene, a prominent retirement services firm, has made an exciting move by entering into a block reinsurance transaction with Sony Life Insurance Co. Ltd., a leading Japanese insurer. This agreement is noteworthy as it represents Athene's second block reinsurance transaction and its eighth overall engagement with Japanese insurers since the company expanded into this market five years ago.
With this partnership, Athene aims to reinsure a diverse block of U.S. dollar denominated whole life insurance policies. This collaboration also includes an agreement with Swiss Re, a notable reinsurer that will retrocede all mortality risk linked to this portfolio. The significance of this transaction is underscored by Athene's achievement of surpassing $19 billion in total reinsurance transaction volume within the Japanese market.
Strengthening Financial Solutions for the Japanese Market
According to Katie Daly, EVP and Global Head of M&A, Reinsurance, and Pensions at Athene, there is a growing trend among Japanese insurers to seek tailored solutions that bolster their financial strength while meeting their policyholders' aspirations. Daly emphasized, "Our expertise in retirement solutions positions us effectively to meet the unique demands of the Japanese market."
Yasuo Kashiwagi, Head of Japan at Apollo, also remarked on this partnership, noting that both Athene and Apollo's expanding footprint in Japan stems from a unique business model that brings in necessary capital to support policyholders in Japan. The alignment of Athene’s strong financial profile with Apollo’s world-class asset management capabilities positions the company well amidst ongoing shifts in the Japanese insurance landscape.
About Athene and Its Growth Trajectory
Athene, a subsidiary of Apollo Global Management, Inc. (NYSE: APO), stands out as a leader in the retirement services arena, managing over $400 billion in total assets as of mid-2025, with operations in the U.S., Bermuda, Canada, and Japan. The company focuses on providing financial security for individuals through various retirement income and savings products, alongside serving as a solutions provider for corporate clients.
As part of its mission, Athene seeks to enhance financial security for retirees, especially in Japan, where the demand for reliable retirement solutions is increasingly significant. Athene’s robust balance sheet and strong capital profile, paired with deep market insights, make it a preferred partner in delivering solutions that can cater to the evolving needs of Japanese policyholders.
Contact Information
If you require more information regarding this transaction or have any inquiries, please reach out to:
Alyssa Castelli
Director, External Relations
+1 646 768 7304
alyssa.castelli@athene.com
Frequently Asked Questions
What is the significance of Athene's transaction with Sony Life?
This transaction highlights Athene's commitment to enhancing its presence in the Japanese insurance market and showcases its ability to manage significant reinsurance volumes.
How does this deal affect Athene's overall transaction volume?
With this latest agreement, Athene has crossed over $19 billion in reinsurance transaction volume with Japanese cedants, reinforcing its strong position in the market.
What type of insurance policies are involved in this reinsurance transaction?
Athene is reinsuring an in-force block of U.S. dollar-denominated whole life insurance policies as part of this deal.
Who is supporting Athene in this transaction?
Swiss Re will retrocede all mortality risk associated with the reinsured block of policies, demonstrating a strong partnership in managing risk.
What are Athene's commitments in Japan?
Athene is dedicated to providing solutions that cater to the unique financial needs of Japanese policyholders, concentrating on retirement and capital management strategies.
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