Apollo And Athene To Merge In All-Stock Transaction
GlobeNewswire
Apollo and Athene have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene.
Under the terms of the transaction, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. Upon closing of the merger, current Apollo shareholders will own approximately 76% of the combined company on a fully diluted basis, and Athene shareholders will own approximately 24%.
The merger of Apollo and Athene combines two growth companies providing products and services that are in high demand – investment returns and retirement income. The stronger capital base and complete alignment will allow the company to rapidly scale asset and liability origination, broaden distribution channels and act as a leading global solutions provider. The company will operate in an environment power
Nationwide Launches New Heights Select FIA
Columbus, OH March 8, 2021 Nationwide has joined with product development partner Annexus, the premier independent designer of fixed indexed annuities, to announce the launch of Nationwide New Heights Select, built on the foundation of 2020’s #1 selling income FIA with a guaranteed roll up.
With the addition of multiple client-centric enhancements to Nationwide New Heights Select, the popular product suite continues to evolve to provide more choice and greater client value. These latest additions include two new indices, new bucketing capabilities for greater diversification, highly competitive accumulation opportunities and increased lifetime income payout percentages on one of the optional income riders.
Fully merging Athene into Apollo Global Management creates enticing possibilities to tie investment strategies with retirement income, the executives said today. That likely leads to more annuity sales in the long run.
AmeriLife Acquires DFS Marketing
CLEARWATER, Fla., March 2, 2021 AmeriLife Group, a national leader in developing, marketing, and distributing annuity, life, and health insurance solutions, has acquired DFS Marketing, an FMO distributing annuity and life insurance through independent agents. DFS Marketing brings a lot of value to the table between their experienced management team and their strong presence in the annuity distribution space, said Scott R. Perry, Chairman and CEO of AmeriLife. We are thrilled to have such a promising company join the AmeriLife family.
Based in Conroe, Texas, DFS Marketing was founded in 2011 with the goal of helping independent financial professionals and insurance agents grow their businesses. The company leverages a Sandler sales training platform to help agents improve their sales performance. The acquisition will expand AmeriLife s geographic footprint in Texas.
Equitable Adds Protection Features To Its Tax-Deferred Variable Annuity
NEW YORK (BUSINESS WIRE) Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc., today announced enhancements to its Investment Edge tax-deferred variable annuity designed to give clients a level of protection against market volatility while preserving their ability to participate in market growth.
The latest version of Investment Edge adds an investment choice with partial downside protection from equity market losses similar to Equitable’s Structured Capital Strategies registered index-linked annuity.
This segment-based investment approach will track a well-known benchmark index of the client’s choosing. Clients can benefit from the potential growth of that index up to a performance cap rate, with protection against the first -10% of potential losses, less the contract fee.