Apollo announces further expansion of its insurance asset management business

Apollo announces further expansion of its insurance asset management business.apollo global - entered into fixed annuity block reinsurance transaction with jackson, a subsidiary of prudential plc.apollo global management - under terms, athene will reinsure $27 billion in-force block of fixed deferred and fixed indexed annuities.apollo global- athene will make $500 million equity investment in jackson, representing 11% stake in co.apollo global management - athene will also make $500 million equity investment in jackson national life insurance co, representing an 11% stake.apollo global management - expects jackson deal will be immediately accretive.apollo global management - full financial effect of jackson transaction expected to be achieved on run rate basis in h2 2021.
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