ATHENE HOLDING LTD. (NYSE:ATH) Files An 8-K Other Events
Item 8.01 Other Events.
statement on Form S-1 (File Nos. 333-218163), filed by Athene
Holding Ltd. (the “Company”) with the U.S. Securities and
Exchange Commission on June 5, 2017, the Company has undertaken
an initiative to improve controls in its business processes and
confirm the accuracy of its data relating to blocks of business
acquired from Aviva USA as well as deposits earned since such
acquisition. In connection with these efforts, in May 2017, the
Company identified an error relating to the impact of certain
inputs used to calculate certain actuarial balances, which had
the result of misstating the Company’s net investment earned
rate used in the amortization calculation of deferred acquisition
costs and the change in future policy benefits. The impact of
this adjustment and other adjustments relating to each individual
annual period in 2016, 2015, 2014 and 2013, as well as interim
periods in 2017, 2016 and 2015 is immaterial. While the
Company’s management believes that this issue has been
sufficiently mitigated, there is no assurance that the Company’s
initiative to improve its business processes and controls will
not result in the discovery of further errors associated with the
blocks of business acquired from Aviva USA and may have an
adverse effect on the Company’s financial results in the future.
schedules included in its Annual Report on Form 10-K for the year
ended December 31, 2016 to correct immaterial errors identified
relating to the periods disclosed therein. Such revised annual
financial statements are being filed as Exhibit 99.1 hereto. The
Company also elected to revise its quarterly financial statements
included in the Quarterly Report on Form 10-Q for the three
months ended March 31, 2017 to correct immaterial errors
identified relating to the periods disclosed therein. Such
revised quarterly financial statements are being filed as Exhibit
99.2 hereto.
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(d)
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Exhibits
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23.1.1
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Consent of PricewaterhouseCoopers LLP regarding Athene
Holding Ltd. financial statements. |
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23.1.2
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Consent of PricewaterhouseCoopers Ltd. regarding Athene
Holding Ltd. financial statements. |
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99.1
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Revised 2016 Annual Report Sections:
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Part II Item 8. Financial Statements and Supplementary
Data |
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Part IV Item 15. Exhibits and Financial Statement
Schedules |
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99.2
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Revised 2017 Quarterly Report Section:
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Part I Item 1. Financial Statements
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101.INS
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XBRL Instance Document.
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101.SCH
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XBRL Taxonomy Extension Schema.
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101.CAL
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XBRL Taxonomy Extension Calculation Linkbase.
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101.LAB
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XBRL Taxonomy Extension Label Linkbase.
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101.PRE
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XBRL Taxonomy Extension Presentation Linkbase.
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101.DEF
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XBRL Taxonomy Extension Definition Linkbase.
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About ATHENE HOLDING LTD. (NYSE:ATH)
Athene Holding Ltd. (Athene Holding) is a Bermuda-based life insurance holding company. The Company is principally focused on the retirement market and whose business, through its subsidiaries, is focused on issuing or reinsuring fixed and equity indexed annuities. Athene Holding’s subsidiaries are Athene Annuity & Life Assurance Company, Athene Life Insurance Company, Investors Insurance Corp, and Athene Life Re Ltd. The products offered by Athene Holding, through its subsidiaries, include retail fixed and equity indexed annuity products; institutional products, such as funding agreements, and co-insurance and reinsurance arrangements with third-party life insurance and annuity providers. Assets of Athene Holding’s subsidiaries are managed by Athene Asset Management LLC.