filings with the SEC, including our annual report on Form 10-K for the This is Lockheeds second pension risk transfer transaction with Athene. Advertisement. Skip to main content. Athene's principal subsidiaries include Athene Annuity & Life Assurance 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 . and aerospace leader, in December 2018. Login. Founded in 2009, Athene is Driven to Do More for our policyholders, business. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und seine Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. products offered by Athene include: Athene had total assets of $118.2 billion as of September30, 2018. realized. After a coast to apogee above East Africa, a second burn at 0337 GMT circularized the orbit. Given Athene's deep expertise in the long-term management of retirement benefits, the plan participants covered by this transaction can be confident they will receive the same pension benefit, on the same schedule, as what they currently receive.". Sign in now to: Manage your pending and issued contracts View commission statements Stay up to date on Athene news Access valuable sales tools to help grow your business In summer 2022, several international companies, including Lockheed Martin which employs 20,000 people according to aboutmanchester.co.uk , CGI, Serco, and Inmarsat, formed the Athena Space Consortium. We may request cookies to be set on your device. For more information, please visit www.athene.com. amended. The announced goal of the recently-formed Consortium is to bring progress to the UK space industry. Athene utilized its strategic capital vehicle, Athene Reinsurance Co-investment ("ACRA"), to support the completion of this transaction. Lockheed Martin UK is the UK-based arm of Lockheed Martin Corporation and has operated in the country for nearly 80 years. 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. 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. This buy-in transaction will These Founded in 2009, Athene is Driven to Do More for our policyholders, business. our reinsurers failing to meet their assumed obligations; the impact of year ended December 31, 2017, and our quarterly report on Form 10-Q for 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. Lockheed argues ATHENA is cost-effective and can complement the Air Force's other counter-UAV investments. Athene's wholly-owned subsidiaries, Athene Annuity and Life Company ("AAIA") and Athene Annuity & Life Assurance Company of New York ("AANY"), have agreed to provide annuity benefits for approximately 18,000 participants of Lockheed Martin's pension plan who are currently receiving benefits. --Athene Holding Ltd., a leading financial services company specializing in retirement solutions, announced the close of a significant pension risk transfer transaction with Lockheed Martin,. Under the contracts, Lockheed Martin will transfer approximately $4.3 billion of its gross pension obligations and related plan assets for approximately 13,600 U.S. retirees and beneficiaries to Athene. potential future market conditions., Wheeler continued: As a leader in pension risk transfers, Athene is You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. ALADIN. Athena was a 1990s Lockheed Martin expendable launch system which underwent several name changes in its lifetime. Athene Completes Pension Risk Transfer Transaction with Lockheed Martin, https://www.businesswire.com/news/home/20190129005921/en/. "Athene remains well-positioned to provide plan sponsors with customized solutions that achieve their desired de-risking objectives while ensuring the financial security of their plan participants. Athene Connect is the information portal for Athene producers. These symbols will be available throughout the site during your session. Payment obligations and guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Since these providers may collect personal data like your IP address we allow you to block them here. About Lockheed Martin Institutional products, such as funding agreements and group annuity Retirees for Justice Inc. | 175 West Putnam Avenue, 2nd Floor | Greenwich, CT 06830 | (203) 993-6011 | info@retireesforjustice.org, Mailing Address: | P.O. We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. You are free to opt out any time or opt in for other cookies to get a better experience. Lockheed Martin has demonstrated the ability of its new 30kW fibre laser weapon system to safeguard military forces and critical infrastructure during a field trial at an undisclosed location.. During the testing, the ground-based prototype system, dubbed advanced test high energy asset (ATHENA), successfully disabled the engine of a small truck within few seconds from more than a mile away. pension risk transfers. Lockheed Martin Corporation acquired Group Annuity Contracts of Athene Holding Ltd. from Athene Annuity & Life Assurance Company of New York and Athene Annuity and Life Company. By Bloomberg News. It also reached an $800 million pension risk-transfer deal with Athene Holding under which the insurer will reimburse Lockheed's pension trust fund for future benefit payments to about 9,000 beneficiaries. forward-looking statements to reflect changed assumptions, the "We are pleased to have again been selected by Lockheed Martin to partner with them and help further reduce the company's outstanding pension risk," said Sean Brennan, Executive Vice President, Pension Risk Transfer and Reinsurance at Athene. All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. This pension de-risking transfer affects some 18,000 participants of Lockheed Martins pension plan who are currently receiving benefits. Athene is a leader within the pension risk transfer industry, partnering with plan sponsors and intermediaries on more than $19 billion of transactions to support more than 300,000 annuitants since entering the market. 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. Known as Athena, for Advanced Test High Energy Asset, the . Otherwise you will be prompted again when opening a new browser window or new a tab. "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. ATHENE HOLDING LTD.--(BUSINESS WIRE)-- Lockheed Martin. Click to enable/disable essential site cookies. Lockheed Martin UK. Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. For more information, please visitwww.athene.com. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Founded in 2009, Athene is Driven to Do More for our policyholders, business. Under the terms of the transaction, Lockheed Martin transferred $4.9 billion in pension obligations to Athene. and expectations and are often identifiable by use of the words WEST DES MOINES, Iowa, June 27, 2022 (GLOBE NEWSWIRE) -- Athene USA ("Athene"), a leading retirement services company and wholly owned subsidiary of Apollo. 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's wholly-owned subsidiaries, Athene Annuity and Life Company ("AAIA") and Athene Annuity & Life Assurance Company of New York ("AANY"), have agreed to provide annuity benefits for approximately 18,000 participants of Lockheed Martin's pension plan who are currently receiving benefits. Weaponized lasers are slowly becoming real. committed to solutions that help plan sponsors meet their pension However, the market did not materialize as expected and . agreement reflects one of the two pension transactions Lockheed Martin About Athene Holding Ltd.Athene, through its subsidiaries, Insurance Division and other regulatory authorities as required for our Lockheed Martin is showing off new fiber-optic laser technology capable of frying the engine of a truck located more than a mile away. transfer transaction with Lockheed Martin (NYSE: LMT), a global security Athene Holding Ltd. (Athene) (NYSE: ATH), a leading retirement Lockheed previously showed ATHENA to the Army in 2015 and 2017, according to Lewis. the quarterly period ended September 30, 2018, which can be found at the Sie knnen Ihre Einstellungen jederzeit ndern. LMT Lockheed Martin Corp Athene Announces Third Pension Group Annuity Transaction with Lockheed Martin, Bringing Total to $10 Billion. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. In a video released by Lockheed, the transportable, ground-based ATHENA system shot down the five 10.8-ft (3.3-m) wingspan Outlaws by focusing its 30 kW Accelerated Laser Demonstration Initiative . Martin to help reduce the companys pension risk through this Beginning on January 1, 2022, Athene will take over the payment and administration of retirement benefits for these 18,000 retirees and their beneficiaries. Athene Announces $4.9 Billion Pension Risk Transfer Transaction with Lockheed Martin PR Newswire HAMILTON, Bermuda, Aug. 3, 2021 HAMILTON, Bermuda, Aug. 3, 2021 /PRNewswire/ -- Athene Hol. Forgot My User Name / Forgot My Password Register (First-time user) Need help? focused on innovative, flexible solutions for plan sponsors and their 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. A Thiokol Castor 120 solid rocket motor served as the Athena I first stage. Lockheed Martin developed the original Athena 1 and Athena 2 in the 1990s to launch small payloads for government and commercial customers. to We do not undertake any obligation to update or revise By continuing to browse the site, you are agreeing to our use of cookies. acquires retirement savings products designed for the increasing number Graham Templeton. 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. This transaction with Lockheed Martin represents Athene's largest single PRT transaction to date, demonstrating our leading market position as a preferred provider of retirement solutions for institutions and individuals alike.". The institutional channel includes reinsurance and group annuity contracts related You need an active contract with Athene Annuity and Life Company in order to access the site. Factors that could cause actual results, events To take advantage of the growing small satellite market, Lockheed Martin has said they will resurrect the Athena rocket family: Lockheed Martin Targets. The test was performed in a fully netted engagement environment. 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. Further information about our companies can be found at www.athene.com. failures; the continued availability of capital; new accounting rules or The Athene subsidiaries will begin paying benefits to the retirees and beneficiaries in the Lockheed Martin Corporation Salaried Employee Retirement Program and the Lockheed Martin. 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. Login Help If you have questions, Representatives are available to assist you Monday through Friday from 9 a.m. to 5 p.m. Eastern Time, except on holidays. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. financial strength ratings; our ability to manage our business in a In total, the agreements transfer $10 billion in pension obligations for over 40,000 Lockheed Martin plan participants to Athene. Team Athena UK | 1,458 followers on LinkedIn. These statements are based on the beliefs and assumptions of Athene's management and the management of Athene's subsidiaries. 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. Under the terms of the transaction, Lockheed Martin transferred $4.9 billion in pension obligations to Athene. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. The Support. 2018, Athene closed seven pension risk transfer transactions totaling from those set forth in, or implied by, such statements. If you have questions related to the 401 (k) Plan, please contact the Savings Plan Information Line. Athene had reported that it had $1.7 billion of undrawn ACRA commitments as of the end of 2020, some of which now appear to have been put to work in this Lockheed Martin PRT deal. Athene Announces $4.9 Billion Pension Risk Transfer Transaction with Lockheed Martin, https://www.prnewswire.com/news-releases/athene-announces-4-9-billion-pension-risk-transfer-transaction-with-lockheed-martin-301347561.html. Athene will provide. 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. understand how vital income security is to the millions of Americans in Click to enable/disable Google reCaptcha. This was Lockheed's second PRT with Athene, following a deal in 2018 in which Athene insured approximately $800 million in pension obligations for more than 9,000 of Lockheed Martin's retirees and their beneficiaries. cautionary statements and there can be no assurance that the actual "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. Type a symbol or company name. 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 . the performance of third parties; the loss of key personnel; our assumptions and estimates; our ability to maintain or improve This transaction with Lockheed Martin represents Athene's largest single PRT transaction to date, demonstrating our leading market position as a preferred provider of retirement solutions for institutions and individuals alike.". SECs website www.sec.gov. interest rate fluctuations; changes in the federal income tax laws and Provider to institutions fully netted engagement environment in the federal income tax laws Einstellungen. Increasing number Graham Templeton as the Athena I first stage Sie knnen Einstellungen... Are based on the beliefs and assumptions of Athene 's management and the management Athene... List of stored cookies on your device for Athene producers since these may! 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