Business Wire

AGER to Acquire Aegon Ireland

Del

AGER Bermuda Holding Ltd. (“AGER”), the holding company of Athene Holding Ltd.’s (“Athene”) European group companies, announced today that it will acquire Aegon Ireland plc (“Aegon Ireland”), a Dublin-based insurer. Consideration for the transaction will be approximately 81% of the own funds of Aegon Ireland as of closing. Solvency II own funds of Aegon Ireland were approximately £200 million ($260 million) as of 30 June 2017.

Aegon Ireland provides wealth management and retirement planning products to over 25,000 customers in the United Kingdom and Germany. It had assets of approximately £4.7 billion ($6.1 billion) as of 30 June 2017. The transaction is expected to close by the first quarter of 2018, subject to regulatory approvals.

“The successful capital raise by AGER in April 2017 has laid the foundation for our growth in Europe,” said Deepak Rajan, Executive Vice President at AGER. “This transaction is another important step toward our goal of becoming the premier European run-off consolidator and life reinsurance partner.”

“We see significant opportunities with Aegon Ireland. This acquisition gives us a strong platform to accumulate Irish annuities, to create a reinsurance hub in Europe, and to provide services to all AGER group companies including our existing German operations. A presence in Ireland has been part of our strategy from the beginning and Aegon Ireland is a perfect fit for our growth plans,” noted Mr. Rajan.

AGER received binding subscriptions through a private placement of common equity securities. The offering involved subscriptions representing approximately €2.2 billion from a number of global institutional investors, including Athene and Apollo Global Management, LLC, and is intended to support capital and reinsurance transactions in the European guaranteed life insurance market. AGER intends to draw capital from this offering prior to the closing of the Aegon Ireland transaction and will result in the deconsolidation of AGER from Athene. Athene will remain a large minority shareholder in AGER in addition to being a preferred reinsurer for AGER’s spread liabilities.

Rajan added, “Our goals for Europe are ambitious, but we have the capital, management team and blueprint for the future to become a competitive and permanent player in the market. The Athene Leben platform demonstrates our extensive experience in acquiring, integrating and administering run-off platforms. The acquisition of Aegon Ireland greatly enhances our ability to provide flexible solutions to the European market. This combination positions us well for the future.”

AGER is based in Bermuda, the second largest reinsurance market in the world. Bermuda is one of the first countries – among Switzerland and Japan – that has been granted full Solvency II equivalency by the European Commission. AGER’s principal operating subsidiary is Athene Lebensversicherung AG (“Athene Leben”), based in Germany. Athene Leben had €5 billion in invested assets as of 31 December 2016. The company has been in run-off since 2010 and since that time has developed the experience and efficiencies critical to succeed as a run-off specialist.

Fenchurch Advisory Partners served as financial advisor, Ernst & Young served as actuarial and tax advisor, Linklaters LLP served as international legal counsel, and Maples and Calder served as Irish legal and tax counsel to AGER.

About AGER Bermuda Holding Ltd.

AGER, through its subsidiaries, is a specialist in the European life run-off market. The company works with insurers to monetize their legacy portfolios while expertly serving the needs of policyholders. The company’s principal operational subsidiary, Athene Leben, is located in Wiesbaden, Germany and specializes in the efficient management of insurance portfolios in the areas of life, annuities and retirement planning.

Contact information

Media Contacts
In U.S., UK, Ireland and Bermuda:
Athene Holding Ltd.
Cyndi Harmeyer Fisher, +1 441-279-8533 or +1 515-342-3719
cfisher@athene.com
or
In Germany:
Hering Schuppener
Folker Dries, +49 69 921 874 26
Hering Schuppener
Andrea Maibaum, +49 69 921 874 26
or
Investor Relations Contact
Athene Holding Ltd.
Paige Hart, +1 441-279-8527 or +1 310-698-4478
phart@athene.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Dole’s Joint Venture Recycling Company Celebrates 25 Years21.5.2018 11:00Pressemelding

Dole Food Company announced today that Recyplast S.A., an innovative plastic recycling company based in Costa Rica and with joint ownership including a subsidiary of Dole Fresh Fruit, recently surpassed 25 years in its mission to dramatically reduce and reuse agricultural waste. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180521005160/en/ Raul Martinez (right), General Manager of Dole Standard Fruit de Costa Rica, receives a plaque from Jose Miguel Ramirez, General Manager of Recyplast, in recognition of the contribution of Dole's banana plantations in the correct handling, storage, and provision of field plastic waste. The plastic recycling facility pioneered the collection of field plastics after use in banana growing operations in Costa Rica. This reuse and recycling process includes reclamation of plastic bags that protect bananas from weather and insects, as well as the collection of plastic twine used to prop the ba

ViiV Healthcare Receives EU Marketing Authorisation for Juluca (dolutegravir/rilpivirine), the First 2-Drug Regimen, Once-Daily, Single-Pill for the Treatment of HIV21.5.2018 10:11Pressemelding

ViiV Healthcare, the global specialist HIV company, majority owned by GlaxoSmithKline, with Pfizer Inc. and Shionogi Limited as shareholders, today announced that the European Commission has granted marketing authorisation for Juluca (dolutegravir 50mg/rilpivirine 25mg) for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in adults who are virologically suppressed (HIV-1 RNA <50 copies/mL) on a stable antiretroviral regimen for at least six months with no history of virological failure and no known or suspected resistance to any non-nucleoside reverse transcriptase inhibitor or integrase inhibitor.1 Juluca is a 2-drug regimen of dolutegravir (ViiV Healthcare), the most widely prescribed integrase inhibitor worldwide,2 and rilpivirine (Janssen Sciences Ireland UC, part of the Janssen Pharmaceutical Companies of Johnson & Johnson).1 Deborah Waterhouse, CEO ViiV Healthcare said, “The European Commission Decision for Juluca is very positive news for people living with

Janssen Announces European Commission Approval of JULUCA®▼ (dolutegravir/rilpivirine), the First Two-Drug Regimen, Once-Daily, Single-Pill for the Treatment of HIV-121.5.2018 10:06Pressemelding

The Janssen Pharmaceutical Companies of Johnson & Johnson today announced that the European Commission has granted marketing authorisation for JULUCA® (dolutegravir 50mg [ViiV Healthcare]/rilpivirine 25mg [Janssen Sciences Ireland UC]).1 ViiV Healthcare, as the marketing authorisation holder, will market dolutegravir/rilpivirine in all countries in the European Union and European Economic Area. Dolutegravir/rilpivirine is the first two-drug regimen, once-daily, single-pill for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in adults who are virologically suppressed (HIV-1 RNA <50 c/mL) on a stable antiretroviral regimen for at least six months with no history of virological failure and no known or suspected resistance to any non-nucleoside reverse transcriptase inhibitor (NNRTI) or integrase inhibitor (INI).1 “The European Commission Decision for dolutegravir/rilpivirine marks a significant milestone in our 25-year commitment to make HIV history,” said Brian Woo

Chugai Presents Results of Two Pivotal Phase lll Studies for its Bispecific Antibody HEMLIBRA® at WFH 201821.5.2018 09:44Pressemelding

Chugai Pharmaceutical Co., Ltd. (TOKYO:4519) today announced that full results from HAVEN 3 study (NCT02847637) and HAVEN 4 study (NCT03020160) evaluating Chugai’s hemophilia A treatment HEMLIBRA® [generic name: emicizumab (genetical recombination)] are being presented at the World Federation of Hemophilia 2018 World Congress held in Glasgow, Scotland from May 20 to 24. HAVEN 3 study is conducted in people with hemophilia A without inhibitors, and HAVEN 4 study is conducted in people with hemophilia A with or without inhibitors. Results from both studies will be presented as late-breaking abstracts. “The results from HAVEN 3 study demonstrate that HEMLIBRA, which was created with Chugai’s proprietary antibody engineering technologies, can reduce the bleeding risk in people with hemophilia A without inhibitors. The intra-patient comparison in this study also shows a statistically significant reduction in bleeding by HEMLIBRA prophylaxis compared to factor VIII therapy, the current stand

STATS Unveils STATS GPS, the Most Advanced Technology for Athlete Monitoring21.5.2018 07:00Pressemelding

Today, STATS, the worldwide leader in sports data and intelligence, unveiled STATS GPS, an innovative system that uses a revolutionary 50-Hz sampling frequency to provide the most advanced real-time GPS technology available. STATS GPS allows teams to monitor player performance with customizable metrics like accelerations/decelerations, energy expenditure, count of zone entries, and time, distance and power thresholds. The innovative solution uses real 50-Hz sampling frequency and allows practitioners to monitor up to 100 players in real-time and post session with over 300 GPS, IMU and HR derived metrics. Embedded in the GPS vests are textile heart-rate sensors, making STATS GPS the most advanced technology on the market. “Teams and conditioning coaches need the latest technology to ensure players stay at peak health and fitness during long seasons,” said Ryan Paterson, Chief Global Officer at STATS. “With STATS GPS’ new 50-Hz technology, teams can instantly get performance information,

MATCHESFASHION.COM Has Another Strong Year of Growth Driven by International Expansion21.5.2018 06:00Pressemelding

MATCHESFASHION.COM, the global luxury-shopping destination for men and women, experienced another strong year of growth in 2017 with revenue up 44% year on year. EBITDA was up 34% driven by international growth. Technology has enabled the business to scale internationally, enhance the customer experience and power social innovation such as the launch of The Style Daily and The Style Social, delivering unique daily content to users. The success of the app last year led to more than half of online business being conducted via mobile. 2017 also saw the launch of two local-language websites in French and Korean and, in October, funds advised by Apax Partners acquired a majority stake in the company. Building on this momentum in 2018, MATCHESFASHION.COM increased their physical footprint; the Hong Kong office has tripled in size and in April they launched a state-of-the-art creative studio in East London. In the summer a new 500,000 square ft global distribution centre will open in London f