Athene announces fixed annuity reinsurance transaction with jackson national life insurance company

Announces fixed annuity reinsurance transaction with jackson national life insurance company.will reinsure a $27 billion in-force block of fixed deferred and fixed indexed annuities.as part of transaction, athene is making a $500 million equity investment in jackson, representing an 11% stake in company.transaction is expected to be accretive to athene's adjusted operating income in 2021 and 2022.expects to deploy about $1.2 billion of total capital in connection with transaction to be contributed over next 12-18 months.jackson will continue to service and administer in-force policies within block.reinsurance agreement has an effective date of june 1, 2020.
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