02.21.24

Athene Execs Unbothered by Regulatory, Interest Rate Headwinds

by: John Hilton

At a recent conference call held by Athene executives with Wall Street analysts, the first question focused on regulatory efforts to beef up the requirements for reinsurance participants. Martin Klein, executive vice president and chief financial officer of Athene, said the insurer is not greatly concerned. "We manage our reinsurance relationships as we do everything. We're really managing to a double A standard, the U.S. standard," Klein said "What is being promulgated at the moment is particularly detailed, but we think we'd be able to comply. But I also think this is very early stages and is likely to change quite a bit." Grant Kvalheim, CEO and president of Athene USA and president of Athene Holding, adopted a wait-and-see with regard to speculation that the Federal Reserve will slash interest rates this year. "I don't think fixed-indexed annuity sales and registered indexed-linked annuity sales are so much a function of rates," he explained. "I think where it would impact sales is in fixed annuities and the multi-year guaranteed annuities. To what extent it's really hard to say."

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