Athora Holding Ltd. Completes Acquisition of Aegon Ireland
Athora Holding Ltd. (together with its subsidiaries, “Athora” or the “Company”) today announced that it has completed the acquisition of Aegon Ireland plc (“Aegon Ireland”), the Irish subsidiary of Dutch insurer Aegon N.V. (the “Acquisition”). The final consideration paid is approximately GBP 170 million (EUR 195 million).
Athora Group Managing Partner Michele Bareggi said: “The completion of this transaction is an important step toward our goal of becoming the premier European life insurance consolidator and life reinsurance partner. We now have a robust platform to serve our operations across Europe and establish our European reinsurance hub. The momentum behind our pursuit of continued growth and scale is now enabled further.”
After adjusting for the Acquisition, Athora will have approximately €10 billion of consolidated assets, roughly 300,000 policyholders, and nearly 400 employees across four offices. “The addition of Aegon Ireland to the Athora family is a transformative event that will add to the Company’s scale and its ability to achieve its wider goals throughout Europe. The transaction also demonstrates Athora’s extensive experience in successfully acquiring and integrating businesses,” Mr Bareggi added.
In April 2017, Athora received binding subscriptions through a private placement of common equity securities. The offering involved subscriptions representing approximately €2.2 billion from global institutional investors and is intended to support capital and reinsurance transactions in the European life insurance market. The completion of the Acquisition represents the first time that Athora has drawn on the successful capital raise after its deconsolidation from its former parent, Athene Holding Ltd (NYSE: ATH).
Aegon Ireland will be renamed to Athora Ireland prior to the end of the third quarter of 2018.
About Athora Holding Ltd.
Athora (formerly AGER Bermuda Holding Ltd), through its subsidiaries, is a specialist in the European life consolidation market. The Company works with insurers to monetise their legacy portfolios and businesses while expertly serving the needs of policyholders. The Company’s principal operational subsidiaries are Athene Lebensversicherung AG, located in Wiesbaden, Germany, Aegon Ireland plc, located in Dublin, Ireland, and Athora Life Re, a Bermuda-domiciled reinsurer.
Athora deconsolidated from Athene Holding Ltd. (NYSE: ATH) in January 2018. Athene remains a minority shareholder in Athora along with other global investors including affiliates of Apollo Global Management, LLC (NYSE: APO).
Athora Media Contacts
All markets except Germany:
Group Head of Corporate Affairs
+ 353 1 688 0357
+49 69 921 874 26
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
TX-SCHLUMBERGER16.11.2018 19:02 | pressemeddelelse
Schlumberger Announces Fourth-Quarter and Full-Year 2018 Results Conference Call
CA-VISA16.11.2018 15:35 | pressemeddelelse
Visa Strengthens Commitment to Growing Digital Payments in India
CA-ANDERSEN-TAX16.11.2018 15:04 | pressemeddelelse
Andersen Global Tilføjer Tax & Legal Services i Argentina
CA-GUIDEWIRE-SOFTWARE16.11.2018 14:57 | pressemeddelelse
Guidewire Enhances PartnerConnect Consulting Program with Addition of Product and Regional Specializations
JANSSEN16.11.2018 14:17 | pressemeddelelse
Janssen receives positive CHMP opinion for ERLEADA™ (apalutamide) for patients with non-metastatic castration-resistant prostate cancer who are at high risk of developing metastatic disease
VERTEX-PHARMA16.11.2018 13:59 | pressemeddelelse
Vertex Receives European CHMP Positive Opinion for ORKAMBI® (lumacaftor/ivacaftor) for Treatment of Children with Cystic Fibrosis Aged 2 to 5 Years Old with Most Common Form of the Disease
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum