Athene Announces Block Reinsurance Transaction with Sony Life in Japan
Athene (NYSE: ATH), a subsidiary of Apollo Global Management, has announced a significant block reinsurance transaction with Sony Life Insurance in Japan. The deal involves reinsuring U.S. dollar-denominated whole life insurance policies, with Swiss Re handling the mortality risk retrocession.
This marks Athene's eighth transaction with Japanese insurers and second block reinsurance deal in the Japanese market. The company has now achieved $19 billion in total reinsurance transaction volume with Japanese cedants since entering the market five years ago.
The partnership leverages Athene's retirement services expertise and Apollo's asset management capabilities to provide capital solutions for Japanese insurers and safe yield options for Japanese retirees.
Athene (NYSE: ATH), controllata da Apollo Global Management, ha annunciato una significativa operazione di block reinsurance con Sony Life Insurance in Giappone. L’accordo riguarda la retrocessione di polizze vita intere denominate in dollari statunitensi, con Swiss Re che gestisce il retrocessione del rischio mortalità.
Questa è l’**ottava** operazione di Athene con assicuratori giapponesi e il secondo accordo di block reinsurance nel mercato giapponese. L’azienda ha raggiunto ora 19 miliardi di dollari di volume totale di riassicurazioni con cedenti giapponesi da quando è entrata nel mercato cinque anni fa.
La partnership sfrutta l’expertise di Athene nei servizi per la pensione e le capacità di gestione degli asset di Apollo per offrire soluzioni di capitale alle assicurazioni giapponesi e opzioni di rendimento sicuro per i pensionati giapponesi.
Athene (NYSE: ATH), una filial de Apollo Global Management, ha anunciado una importante operación de reaseguro en bloque con Sony Life Insurance en Japón. El acuerdo cubre la retrocesión de pólizas de vida enteras denominadas en dólares estadounidenses, con Swiss Re gestionando la retrocesión del riesgo de mortalidad.
Esto marca la octava operación de Athene con aseguradoras japonesas y el segundo acuerdo de reaseguro en bloque en el mercado japonés. La empresa ha alcanzado ahora 19 mil millones de dólares en volumen total de transacciones de reaseguro con cedentes japoneses desde que entró en el mercado hace cinco años.
La asociación aprovecha la experiencia de Athene en servicios de jubilación y las capacidades de gestión de activos de Apollo para ofrecer soluciones de capital a las aseguradoras japonesas y opciones de rendimiento seguro para los jubilados japoneses.
Athene (NYSE: ATH), 애플로 글로벌 매니지먼트의 자회사, 일본에서 Sony Life Insurance와 대규모 블록 재보험 거래를 발표했습니다. 이 거래는 미 달러화로 표기된 종신보험 정책의 재보험을 다루며, Swiss Re가 사망 리스크의 재보험을 처리합니다.
이는 Athene가 일본 보험사와 체결한 여덟 번째 거래이며 일본 시장에서의 두 번째 블록 재보험 거래입니다. 이 회사는 5년 전 시장에 진입한 이래 일본 피보험자와의 재보험 거래 총액이 190억 달러에 달했습니다.
이번 파트너십은 Athene의 은퇴 서비스 전문성과 Apollo의 자산 관리 역량을 활용해 일본 보험사에 자본 솔루션을 제공하고 일본 은퇴자들에게 안전한 수익 옵션을 제공합니다.
Athene (NYSE: ATH), filiale d'Apollo Global Management, a annoncé une importante opération de réassurance en bloc avec Sony Life Insurance au Japon. L'accord porte sur la réassurance de polices d’assurance vie entière libellées en dollars américains, Swiss Re se chargeant de la rétrocession du risque de mortalité.
C’est la huitième transaction d'Athene avec des assureurs japonais et le deuxième accord de réassurance en bloc sur le marché japonais. L’entreprise atteint désormais 19 milliards de dollars de volume total de transactions de réassurance avec des cédants japonais depuis son entrée sur le marché il y a cinq ans.
Le partenariat s’appuie sur l’expertise d’Athene en services de retraite et les capacités de gestion d’actifs d’Apollo pour offrir des solutions de capital aux assureurs japonais et des options de rendement sûr pour les retraités japonais.
Athene (NYSE: ATH), eine Tochter von Apollo Global Management, hat eine bedeutende Block-Rückversicherungs-Transaktion mit Sony Life Insurance in Japan bekannt gegeben. Der Deal umfasst die Rückversicherung von in US-Dollar befristeten Whole-Life-Policen, wobei Swiss Re das Mortalitätsrisiko rückversichert.
Dies ist Athenes achte Transaktion mit japanischen Versicherern und der zweite Block-Reinsurance-Vertrag im japanischen Markt. Das Unternehmen hat nun insgesamt 19 Milliarden US-Dollar an Rückversicherungsvolumen mit japanischen Zedenten erzielt, seit es vor fünf Jahren in den Markt eingetreten ist.
Die Partnerschaft nutzt Athenes Expertise im Rentenservice und Apllos Asset-Management-Fähigkeiten, um japanischen Versicherern Kapital-Lösungen zu bieten und sichere Renditeoptionen für japanische Rentner bereitzustellen.
Athene (NYSE: ATH)، وهي شركة فرعية تابعة لـ Apollo Global Management، أعلنت عن صفقة إعادة تأمين كبيرة بشكل كتلي مع Sony Life Insurance في اليابان. تتضمن الصفقة إعادة تأمين سياسات التأمين على الحياة الدائمة المُسعَّرة بالدولار الأميركي، وتتعامل Swiss Re مع إعادة التأمين على مخاطر الوفيات.
هذه الصفقة هي الثامنة لـ Athene مع شركات تأمين يابانية والصفقة الثانية لإعادة التأمين بشكل كتلي في السوق الياباني. حققت الشركة الآن حجم معاملات إعادة التأمين الإجمالي بقيمة 19 مليار دولار مع الملتزمين اليابانيين منذ دخولها السوق قبل خمس سنوات.
تستفيد الشراكة من خبرة Athene في خدمات التقاعد ومن قدرات Apollo في إدارة الأصول لتوفير حلول رأس المال لشركات التأمين اليابانية وخيارات عائد آمن للمواطنين المتقاعدين اليابانيين.
Athene（NYSE: ATH），为 Apollo Global Management 的子公司，宣布在日本与 Sony Life Insurance 达成一项重要的块状再保险交易。该交易涉及以美元计价的整寿险保单的再保险，Swiss Re 负责死亡风险的再保险转让。
这是 Athene 与日本保险公司之间的第八笔交易，也是日本市场上的第二笔块状再保险交易。自五年前进入日本市场以来，该公司与日本被再保险人之间的总再保险交易额已达到 190亿美元。
此次合作结合了 Athene 在退休服务方面的专业知识与 Apollo 的资产管理能力，为日本保险公司提供资本解决方案，并为日本退休人员提供安全的收益选项。
- Reached $19 billion in total reinsurance transaction volume with Japanese cedants
- Partnership with top-rated Japanese insurer Sony Life expands market presence
- Risk mitigation through Swiss Re's retrocession of mortality risk
- Strategic expansion in Japanese market with eighth transaction across seven cedents
- None.
Insights
Athene strengthens its Japanese market presence with Sony Life deal, reaching $19B in transaction volume while offloading mortality risk.
Athene's newest block reinsurance transaction with Sony Life represents a significant expansion of the company's Japanese market presence. This marks their eighth transaction with Japanese insurers and second block reinsurance deal since entering the market five years ago, bringing their total Japanese reinsurance volume to approximately
The strategic structure of this transaction deserves attention. Athene will reinsure Sony Life's US dollar-denominated whole life policies but has arranged to retrocede all mortality risk to Swiss Re. This arrangement allows Athene to focus on what they do best - managing long-term retirement assets - while transferring the insurance mortality risk to a specialist reinsurer.
This transaction pattern highlights Athene's evolving business model in Japan. By leveraging parent company Apollo's asset management capabilities and their own strong balance sheet, Athene has positioned itself as a capital solutions provider for Japanese insurers looking to optimize their financial positions. The company is effectively functioning as an institutional asset manager for Japanese insurance liabilities, particularly focusing on dollar-denominated products that Japanese insurers may find challenging to manage efficiently on their own balance sheets.
The deal reflects broader trends in Japan's insurance market, where insurers face yield challenges in the domestic market and are increasingly looking for capital relief and asset management solutions for certain product blocks. For Athene, these transactions provide access to stable, long-term liabilities that match their retirement-focused business model.
Transaction marks Athene’s second block reinsurance transaction and eighth transaction with Japanese insurers since entering the market five years ago
Athene crosses
WEST DES MOINES, Iowa, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Athene, the leading retirement services company and subsidiary of Apollo Global Management, Inc. (NYSE: APO), has announced that it intends to enter a block reinsurance transaction with Sony Life Insurance Co. Ltd. (“Sony Life”), a top-rated Japanese insurer. As part of this transaction, Athene will reinsure an in-force block of U.S. dollar denominated whole life insurance policies and will enter into an agreement with leading reinsurer Swiss Re to retrocede all mortality risk associated with the block.
“Japanese insurers are increasingly turning to more tailored solutions and flexible capital to enhance their financial strength and advance policyholders’ goals,” said Katie Daly, EVP and Global Head of M&A, Reinsurance and Pensions at Athene. “Our retirement and capital expertise put us in a strong position to address needs unique to the Japan market.”
“Apollo and Athene’s growing presence in Japan is a direct result of our differentiated model’s ability to bring in capital to support Japanese policyholders,” said Yasuo Kashiwagi, Head of Japan at Apollo. “The combination of balance sheet strength and world-class asset management capabilities fits well with deeper shifts underway in Japan and enables us to provide safe yield solutions to Japanese retirees and savers in an aligned way.”
This transaction marks Athene’s eighth reinsurance transaction across seven cedents, and second block reinsurance transaction with Japanese insurers since entering the market five years ago. This brings the total transaction volume of Athene’s reinsurance transactions with Japanese cedants to approximately
About Athene
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Forward-Looking Statements
This press release contains, and certain oral statements made by Athene's representatives from time to time may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks, uncertainties and assumptions that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. These statements are based on the beliefs and assumptions of Athene's management and the management of Athene's subsidiaries. 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. Forward-looking statements within this press release include, but are not limited to, statements regarding future growth prospects and financial performance. Although Athene management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. For a discussion of other risks and uncertainties related to Athene’s forward-looking statements, see its annual report on Form 10-K for the year ended December 31, 2024, which can be found at the SEC’s website www.sec.gov. 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. 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.
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