GE Transfers $1.7 Billion to Athene

In late 2020, GE transferred $1.7 Billion in pension liabilities to Athene Annuity and Life Company and Athene Annuity & Life Assurance Company of New York. This transaction affects approximately 70,000 retirees who have been receiving benefits from GE’s pension plan. Bermuda based Athene Holding has purchased more than $18.5 Billion in pension liabilities affecting over 300,000 retirees since it entered the pension risk transfer business in 2017.