Athene Holding Ltd. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Athene Holding Ltd. on June 28, 2018. The filing addresses a regulatory resolution involving Athene Life Insurance Company of New York (ALICNY), a subsidiary of the Company.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. It is a report on a specific corporate event rather than a periodic financial report.
Material Changes and Events
On June 28, 2018, ALICNY and First Allmerica Financial Life Insurance Company (FAFLIC), a subsidiary of Global Atlantic Financial Group, agreed to a consent order with the New York State Department of Financial Services (NYSDFS). This order resolves a previously disclosed examination concerning a group of life policies reinsured to and administered by FAFLIC and its sub-contractor, DXC Technology. These policies were originally reinsured to FAFLIC during Athene's acquisition of Aviva USA Corporation in October 2013.
Guidance, Outlook, and Risks
The filing does not provide updated financial guidance or management outlook. The primary risk addressed is the conclusion of the regulatory examination regarding the administration of the specific life policies mentioned above. The resolution via consent order indicates the matter has been settled with the regulator.
Investor Verification Checklist
- Review the full text of the consent order filed as Exhibit 99.1 to understand specific terms and potential financial implications.
- Verify if the resolution of this NYSDFS examination impacts the Company's prior disclosures regarding the Aviva USA Corporation acquisition.
- Confirm whether any future regulatory actions or penalties are associated with this consent order.