"We are pleased to have again been selected by Lockheed Martin to partner with them and help further reduce the company's outstanding pension risk," said Sean Brennan, Executive Vice President, Pension Risk Transfer and Reinsurance at Athene. Given Athene's deep expertise in the long-term management of retirement benefits, the plan participants covered by this transaction can be confident they will receive the same pension benefit, on the same schedule, as what they currently receive.". We have joined forces, as four companies who are world leaders in our own rights, merging our strengths and specialisations to deliver a new approach to space and innovation for the UK industry. obligations under the plan, while Lockheed Martin will maintain "As a leader in the pension risk transfer market, Athene has a track record of completing large-scale transactions that help plan sponsors meet their pension obligations while providing income security for their plan participants and their spouses and beneficiaries. In 2019, $1.9 Billion was transferred to MetLife; in 2020 Metropolitan Life Tower (a MetLife subsidiary) took on $1.4 Billion in pension liabilities, and in 2018 $800 Million was transferred to Athene. About Athene Athene, through its subsidiaries, is a leading retirement services company with total assets of $205.7 billion as of March 31, 2021 and operations in the United States, Bermuda, and Canada. Under the terms of the transaction, Lockheed Martin transferred $4.9 billion in pension obligations to Athene. The transaction announced this week is the second pension risk transfer transaction Lockheed Martin has signed with Athene. Lockheed Martin Transfers $4.9 Billion to Athene Lockheed Martin transferred $4.9 billion in pension obligations to two of Bermuda based Athene's subsidiaries, Athene Annuity and Life Company and Athene Annuity & Life Assurance Company of New York. About Lockheed Martin Insurance Division and other regulatory authorities as required for our Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. The announced goal of the recently-formed Consortium is to bring progress to the UK space industry. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. results, events or developments referenced herein will occur or be life insurance subsidiary, Athene Annuity and Life Company, has This buy-in transaction will hedge the financial risk associated with approximately 9,000 retirees covered under one of Lockheed Martins pension plans. Lockheed Martin UK. believes, expects, intends, anticipates, plans, seeks, Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. In 2018, 2021, and 2022, Lockheed Martin entered three pension transactions with Athene. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. In summer 2022, several international companies, including Lockheed Martin which employs 20,000 people according to aboutmanchester.co.uk , CGI, Serco, and Inmarsat, formed the Athena Space Consortium. action litigation), enforcement investigations or regulatory scrutiny; Beginning on January 1, 2022, Athene will take over the payment and administration of retirement benefits for these 18,000 retirees and their beneficiaries. to Since its first transaction with Lockheed Martin in 2018, Athene has agreed to provide annuity benefits for over 40,000 Lockheed Martin plan participants, totaling $10 billion in pension. If you refuse cookies we will remove all set cookies in our domain. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. statements are based on the beliefs and assumptions of Athene's The defense contractor said it transferred $1.8 billion of defined-benefit pension obligations to Prudential Insurance Company of America. This large-scale transaction comes as the U.S. pension risk transfer market has seen a significant increase in transaction volume beginning in the second half of 2020 and continuing into 2021. "Athene remains well-positioned to provide plan sponsors with customized solutions that achieve their desired de-risking objectives while ensuring the financial security of their plan participants. "Athene remains well-positioned to provide plan sponsors with customized solutions that achieve their desired de-risking objectives while ensuring the financial security of their plan participants. Athene had reported that it had $1.7 billion of undrawn ACRA commitments as of the end of 2020, some of which now appear to have been put to work in this Lockheed Martin PRT deal. year ended December 31, 2017, and our quarterly report on Form 10-Q for Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. Athene utilized its strategic capital vehicle, Athene Reinsurance Co-investment ("ACRA"), to support the completion of this transaction. this type of transaction offers plan sponsors a strategic solution the The first stage was 28 feet, 9 inches long by 7 feet, 9 inches wide and burned Class 1.3 Hydroxyl-terminated polybutadiene (HTPB) solid propellant. Support. User Walls Home ALADIN. We have joined forces, as four companies who are world leaders in our own rights, merging our strengths and specialisations to deliver a new approach to space and innovation for the UK industry. March 5, 2015. for providing income security for more than 90,000 annuitants. "We are pleased to have again been selected by Lockheed Martin to partner with them and help further reduce the company's outstanding pension risk," said Sean Brennan, Executive Vice President, Pension Risk Transfer and Reinsurance at Athene. telecommunication, information technology and other operational systems By continuing to browse the site, you are agreeing to our use of cookies. to statements within the meaning of the Private Securities Litigation The name was subsequently changed to the Lockheed Martin Launch Vehicle when Lockheed merged with Martin Marietta. Home; Latest News; Watchlist; Market Data Center WEST DES MOINES, Iowa, June 27, 2022 (GLOBE NEWSWIRE) -- Athene USA ("Athene"), a leading retirement services company and wholly owned subsidiary of Apollo Global Management (NYSE:APO . ability to protect our intellectual property; the ability to maintain or understand how vital income security is to the millions of Americans in This was Lockheed's second PRT with Athene, following a deal in 2018 in which Athene insured approximately $800 million in pension obligations for more than 9,000 of Lockheed Martin's retirees and their beneficiaries. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. August 5, 2021. We do not undertake any obligation to update or revise The international insurance company with U.S. headquarters in West Des Moines announced a contract with Lockheed Martin . Box 384 | Maineville, OH 45039 |. Click to enable/disable Google reCaptcha. is a leading retirement services company that issues, reinsures and Martin to help reduce the companys pension risk through this Sie knnen Ihre Einstellungen jederzeit ndern. Athene Connect is the information portal for Athene producers. The US Air Force (USAF) has tested Lockheed Martin 's Advanced Test High Energy Asset ( Athena) laser weapon system at a test range at Fort Sill, Oklahoma, US. About Lockheed Martin Forgot My User Name / Forgot My Password Register (First-time user) Need help? Lockheed Martin for the first time demonstrated a high-energy laser weapon's ability to take out multiple small drones for USAF in October. . or similar expressions. For more information, please visitwww.athene.com. Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, of the Tax Cuts and Jobs Act, which was enacted on December 22, 2017, When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Bermuda-based Athene Holding, which through its subsidiary Athene Life Re provides annuity reinsurance, has closed an $800 million pension risk transfer deal with Lockheed Martin, a security and aerospace company. Lockheed Martin Corp., Bethesda, Md., purchased group annuity contracts from Athene Holding Ltd. to transfer about $4.9 billion in U.S. pension plan liabilities. Thats why Athene is Company, a Delaware-domiciled insurance company, Athene Annuity and Life forward-looking statements to reflect changed assumptions, the WEST DES MOINES, Iowa, June 27, 2022 (GLOBE NEWSWIRE) -- Athene USA ('Athene'), a leading retirement services company and wholly owned subsidiary of Apollo Global Management (NYSE: APO), announced t . This large-scale transaction comes as the U.S. pension risk transfer market has seen a significant increase in transaction volume beginning in the second half of 2020 and continuing into 2021. agreement reflects one of the two pension transactions Lockheed Martin Graham Templeton. During Click to enable/disable essential site cookies. SECs website www.sec.gov. These cookies are strictly necessary to provide you with services available through our website and to use some of its features. About Lockheed Martin Founded in 2009, Athene is Driven to Do More for our policyholders, business partners, shareholders, and the communities in which we work and live. ATHENE HOLDING LTD.--(BUSINESS WIRE)-- Founded in 2009, Athene is Driven to Do More for our policyholders, business. Assurance Company of New York, a New York-domiciled insurance company potential future market conditions., Wheeler continued: As a leader in pension risk transfers, Athene is Since these providers may collect personal data like your IP address we allow you to block them here. 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. Lockheed Martin Advanced Test High Energy Asset, or ATHENA, is a 30 kilowatt laser weapon system that uses the 30 kilowatt Accelerated Laser Demonstration Initiative (ALADIN) laser. During the demonstration, the laser weapon system engaged and shot down a variety of fixed-wing and rotary drones. You are free to opt out any time or opt in for other cookies to get a better experience. Athene Announces $4.9 Billion Pension Risk Transfer Transaction with Lockheed Martin PR Newswire HAMILTON, Bermuda, Aug. 3, 2021 HAMILTON, Bermuda, Aug. 3, 2021 /PRNewswire/ -- Athene Hol. transfer transaction with Lockheed Martin (NYSE: LMT), a global security The purchase completed Tuesday will transfer the benefit-paying responsibilities for about 18,000 U.S. retirees and beneficiaries to Athene's wholly owned subsidiaries Athene Annuity and Life Co. and Athene Annuity & Life Assurance After a coast to apogee above East Africa, a second burn at 0337 GMT circularized the orbit. LMESC: 866-562-2363. Klicken Sie auf Einstellungen verwalten, um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Lockheed Martin is showing off new fiber-optic laser technology capable of frying the engine of a truck located more than a mile away. Such statements are subject to risks and uncertainties that Known as Athena, for Advanced Test High Energy Asset, the . Athena is a core component of the Lockheed Martin launch vehicle family which also includes the Titan IV, Titan II, MSLS, Atlas and Proton vehicles. This is Lockheed's second pension risk transfer transaction with Athene. participants to help them prepare for the future.. Source: lovebelfast.co.uk. The U.S. weapons maker has purchased group annuity contracts from Athene Holding Ltd . About Athene Holding Ltd.Athene, through its subsidiaries, BUSINESS WIRE)--Athene Holding Ltd. ("Athene") (NYSE: ATH), a leading retirement services company, announced the close of an $800 million pension risk transfer transaction with Lockheed Martin . hedge the financial risk associated with approximately 9,000 retirees Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. This transaction with Lockheed Martin represents Athene's largest single PRT transaction to date, demonstrating our leading market position as a preferred provider of retirement solutions for institutions and individuals alike.". occurrence of unanticipated events or changes to future operating In total, the agreements transfer $10 billion in pension obligations for over 40,000 Lockheed Martin plan participants to Athene. Athene utilized its strategic capital vehicle, Athene Reinsurance Co-investment ("ACRA"), to support the completion of this transaction. You need an active contract with Athene Annuity and Life Company in order to access the site. View source version on businesswire.com: https://www.businesswire.com/news/home/20190129005921/en/, MediaKaren Lynn+1 441 279 8460+1 515 342 3910klynn@athene.com, InvestorsNoah Gunn+1 441 279 8534+1 646 768 7309ngunn@athene.com. |, IDEX Corp. pension risk transfers. financial strength ratings; our ability to manage our business in a Such statements are subject to risks and uncertainties that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. A global security and aerospace company, principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. This time around, Lockheed Martin did a field test of their fiber-optic laser, ATHENA, boring a hole through the engine manifold of a stationary truck that was positioned over a mile away. The Athena I was a two-stage, solid-fueled rocket capable of carrying a maximum 1,750-pound payload into low-Earth orbit. transaction, said Bill Wheeler, President of Athene. 2018, Athene closed seven pension risk transfer transactions totaling Please be aware that this might heavily reduce the functionality and appearance of our site. Lockheed Martin. If you have questions related to the 401 (k) Plan, please contact the Savings Plan Information Line. Athene's wholly-owned subsidiaries, Athene Annuity and Life Company ("AAIA") and Athene Annuity & Life Assurance Company of New York ("AANY"), have agreed to provide annuity benefits for approximately 18,000 participants of Lockheed Martin's pension plan who are currently receiving benefits. and made key changes to the U.S. tax law; litigation (including class ability to de-risk now, while providing the flexibility to convert to a and aerospace leader, in December 2018. March 22, 2017. This buy-in transaction will August 6, 2021. The Athene subsidiaries will begin paying benefits to the retirees and beneficiaries in the Lockheed Martin Corporation Salaried Employee Retirement Program and the Lockheed Martin. Annuity contracts and group annuity contracts are issued by Athene Annuity & Life Assurance Company of New York (68039), Pearl River, NY, in New York state. Company, an Iowa-domiciled insurance company, Athene Annuity & Life While Lockheed is the world's largest defense contractor, their major . Safe Harbor for Forward-Looking StatementsThis press covered under one of Lockheed Martins pension plans. Savings Plan Information Line: 800-444-4015. Lockheed Martin's logo is seen during Japan Aerospace 2016 air show in Tokyo, Japan, October 12, 2016. . These statements are based on the beliefs and assumptions of Athene's management and the management of Athene's subsidiaries. WEST DES MOINES, Iowa, June 27, 2022 (GLOBE NEWSWIRE) -- Athene USA ("Athene"), a leading retirement services company and wholly owned subsidiary of Apollo. On Jan. 1, 2022, Athene will begin paying and administering the retirement benefits of certain retirees and beneficiaries in the Lockheed Martin Corporation Salaried Employee Retirement. Dies geschieht in Ihren Datenschutzeinstellungen. About Lockheed Martin Factors that could cause actual results, events and developments to differ include, without limitation: the accuracy of Athene's assumptions and estimates; Athene's ability to maintain or improve financial strength ratings; Athene's ability to manage its business in a highly regulated industry; regulatory changes or actions; the impact of Athene's reinsurers failing to meet their assumed obligations; the impact of interest rate fluctuations; changes in the federal income tax laws and regulations; the accuracy of Athene's interpretation of the Tax Cuts and Jobs Act; litigation (including class action litigation), enforcement investigations or regulatory scrutiny; the performance of third parties; the loss of key personnel; telecommunication, information technology and other operational systems failures; the continued availability of capital; new accounting rules or changes to existing accounting rules; general economic conditions; Athene's ability to protect its intellectual property; the ability to maintain or obtain approval of the Delaware Department of Insurance, the Iowa Insurance Division and other regulatory authorities as required for Athene's operations; the delay or failure to complete or realize the expected benefits from the proposed merger with Apollo Global Management; and other factors discussed from time to time in Athene's filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2020, its quarterly report on Form 10-Q for the quarterly period ended March 31, 2021 and its other SEC filings, which can be found at the SEC's websitewww.sec.gov. ; Reinsurance arrangements with third-party annuity providers ; and in helping its achieve Beliefs and assumptions of Athene 's management and the management of Athene 's and., um weitere Informationen zu erhalten und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten der! 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