Athene Holding Ltd.
For the period ended Mar 31, 2025. Filed May 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 7, 2025
ATHS$23.15-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets (unaudited)
| (In millions) | March 31, 2025 | December 31, 2024 |
|---|---|---|
| Assets | ||
| Investments | ||
| Available-for-sale securities, at fair value (amortized cost: 2025 – $189,885 and 2024 – $180,716; allowance for credit losses: 2025 – $708 and 2024 – $708) | $176,553 | $165,364 |
| Trading securities, at fair value | 2,106 | 1,583 |
| Equity securities, at fair value | 1,055 | 1,290 |
| Mortgage loans, at fair value | 70,916 | 63,239 |
| Investment funds | 104 | 107 |
| Policy loans | 313 | 318 |
| Funds withheld at interest (portion at fair value: 2025 – $(2,847) and 2024 – $(3,035)) | 17,860 | 18,866 |
| Derivative assets | 6,153 | 8,154 |
| Short-term investments (portion at fair value: 2025 – $71 and 2024 – $255) | 252 | 447 |
| Other investments (portion at fair value: 2025 – $1,679 and 2024 – $1,606) | 3,011 | 2,915 |
| Total investments | 278,323 | 262,283 |
| Cash and cash equivalents | 11,023 | 12,733 |
| Restricted cash | 2,210 | 943 |
| Investments in related parties | ||
| Available-for-sale securities, at fair value (amortized cost: 2025 – $20,614 and 2024 – $19,531; allowance for credit losses: 2025 – $1 and 2024 – $1) | 20,315 | 19,127 |
| Trading securities, at fair value | 437 | 573 |
| Equity securities, at fair value | 244 | 234 |
| Mortgage loans, at fair value | 1,296 | 1,297 |
| Investment funds (portion at fair value: 2025 – $1,180 and 2024 – $1,139) | 1,935 | 1,853 |
| Funds withheld at interest (portion at fair value: 2025 – $(540) and 2024 – $(615)) | 4,810 | 5,050 |
| Short-term investments | 784 | 743 |
| Other investments, at fair value | 340 | 331 |
| Accrued investment income (related party: 2025 – $175 and 2024 – $193) | 2,891 | 2,816 |
| Reinsurance recoverable (related party: 2025 – $4,830 and 2024 – $4,309; portion at fair value: 2025 – $1,729 and 2024 – $1,661) | 8,790 | 8,194 |
| Deferred acquisition costs, deferred sales inducements and value of business acquired | 7,606 | 7,173 |
| Goodwill | 4,067 | 4,063 |
| Other assets (related party: 2025 – $247 and 2024 – $203) | 11,064 | 11,253 |
| Assets of consolidated variable interest entities | ||
| Investments | ||
| Trading securities, at fair value (related party: 2025 – $750 and 2024 – $711) | 3,011 | 2,301 |
| Mortgage loans, at fair value (related party: 2025 – $399 and 2024 – $384) | 2,519 | 2,579 |
| Investment funds, at fair value (related party: 2025 – $18,037 and 2024 – $16,986) | 18,340 | 17,765 |
| Other investments (related party: 2025 – $91 and 2024 – $86; portion at fair value: 2025 – $107 and 2024 – $107) | 936 | 884 |
| Cash and cash equivalents (restricted cash: 2025 – $10 and 2024 – $10) | 175 | 583 |
| Other assets | 362 | 565 |
| Total assets | $381,478 | $363,343 |
(Continued)
Condensed Consolidated Balance Sheets(Unaudited)
| (In millions) | March 31, 2025 | December 31, 2024 |
|---|---|---|
| Liabilities and Equity | ||
| Liabilities | ||
| Interest sensitive contract liabilities (related party: 2025 – $6,284 and 2024 – $6,678; portion at fair value: 2025 – $11,516 and 2024 – $11,984) | $273,439 | $253,637 |
| Future policy benefits (related party: 2025 – $28 and 2024 – $25; portion at fair value: 2025 – $1,663 and 2024 – $1,640) | 49,897 | 49,902 |
| Market risk benefits (related party: 2025 – $254 and 2024 – $239) | 4,362 | 4,028 |
| Debt | 6,301 | 6,309 |
| Derivative liabilities | 3,365 | 3,556 |
| Payables for collateral on derivatives and securities to repurchase | 7,253 | 11,652 |
| Other liabilities (related party: 2025 – $5,122 and 2024 – $4,707) | 7,535 | 6,745 |
| Liabilities of consolidated variable interest entities (related party: 2025 – $252 and 2024 – $374) | 1,552 | 1,640 |
| Total liabilities | 353,704 | 337,469 |
| Commitments and Contingencies (Note 11) | ||
| Equity | ||
| Preferred stock | — | — |
| Common stock | — | — |
| Additional paid-in capital | 19,611 | 19,588 |
| Retained earnings | 2,469 | 2,237 |
| Accumulated other comprehensive loss (related party: 2025 – $(219) and 2024 – $(245)) | (4,561) | (5,465) |
| Total Athene Holding Ltd. stockholders’ equity | 17,519 | 16,360 |
| Noncontrolling interests | 10,255 | 9,514 |
| Total equity | 27,774 | 25,874 |
| Total liabilities and equity | $381,478 | $363,343 |
(Concluded)
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