Athene Holding Ltd.
For the period ended Jun 30, 2025. Filed Aug 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.
Jun 30, 2025 · Filed Aug 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) | June 30, 2025 | December 31, 2024 |
|---|---|---|
| Assets | ||
| Investments | ||
| Available-for-sale securities, at fair value (amortized cost: 2025 – $199,637 and 2024 – $180,716; allowance for credit losses: 2025 – $760 and 2024 – $708) | $188,750 | $165,364 |
| Trading securities, at fair value | 4,060 | 1,583 |
| Equity securities, at fair value | 1,150 | 1,290 |
| Mortgage loans, at fair value | 77,289 | 63,239 |
| Investment funds | 102 | 107 |
| Policy loans | 310 | 318 |
| Funds withheld at interest (portion at fair value: 2025 – $(2,743) and 2024 – $(3,035)) | 16,998 | 18,866 |
| Derivative assets | 6,901 | 8,154 |
| Short-term investments (portion at fair value: 2025 – $16 and 2024 – $255) | 187 | 447 |
| Other investments (portion at fair value: 2025 – $1,695 and 2024 – $1,606) | 3,364 | 2,915 |
| Total investments | 299,111 | 262,283 |
| Cash and cash equivalents | 10,329 | 12,733 |
| Restricted cash | 1,720 | 943 |
| Investments in related parties | ||
| Available-for-sale securities, at fair value (amortized cost: 2025 – $21,943 and 2024 – $19,531; allowance for credit losses: 2025 – $1 and 2024 – $1) | 21,916 | 19,127 |
| Trading securities, at fair value | 399 | 573 |
| Equity securities, at fair value | 266 | 234 |
| Mortgage loans, at fair value | 1,275 | 1,297 |
| Investment funds (portion at fair value: 2025 – $1,297 and 2024 – $1,139) | 2,062 | 1,853 |
| Funds withheld at interest (portion at fair value: 2025 – $(478) and 2024 – $(615)) | 4,590 | 5,050 |
| Short-term investments | 18 | 743 |
| Other investments, at fair value | 339 | 331 |
| Accrued investment income (related party: 2025 – $181 and 2024 – $193) | 3,176 | 2,816 |
| Reinsurance recoverable (related party: 2025 – $5,269 and 2024 – $4,309; portion at fair value: 2025 – $1,780 and 2024 – $1,661) | 9,273 | 8,194 |
| Deferred acquisition costs, deferred sales inducements and value of business acquired | 7,981 | 7,173 |
| Goodwill | 4,075 | 4,063 |
| Other assets (related party: 2025 – $237 and 2024 – $203) | 11,886 | 11,253 |
| Assets of consolidated variable interest entities | ||
| Investments | ||
| Trading securities, at fair value (related party: 2025 – $899 and 2024 – $711) | 3,265 | 2,301 |
| Mortgage loans, at fair value (related party: 2025 – $441 and 2024 – $384) | 2,544 | 2,579 |
| Investment funds, at fair value (related party: 2025 – $19,057 and 2024 – $16,986) | 19,348 | 17,765 |
| Other investments (related party: 2025 – $94 and 2024 – $86; portion at fair value: 2025 – $383 and 2024 – $107) | 1,204 | 884 |
| Cash and cash equivalents (restricted cash: 2025 – $17 and 2024 – $10) | 191 | 583 |
| Other assets | 341 | 565 |
| Total assets | $405,309 | $363,343 |
(Continued)
Condensed Consolidated Balance Sheets(Unaudited)
| (In millions) | June 30, 2025 | December 31, 2024 |
|---|---|---|
| Liabilities and Equity | ||
| Liabilities | ||
| Interest sensitive contract liabilities (related party: 2025 – $5,969 and 2024 – $6,678; portion at fair value: 2025 – $13,031 and 2024 – $11,984) | $292,238 | $253,637 |
| Future policy benefits (related party: 2025 – $30 and 2024 – $25; portion at fair value: 2025 – $1,653 and 2024 – $1,640) | 49,400 | 49,902 |
| Market risk benefits (related party: 2025 – $260 and 2024 – $239) | 4,489 | 4,028 |
| Debt | 7,864 | 6,309 |
| Derivative liabilities | 4,889 | 3,556 |
| Payables for collateral on derivatives and securities to repurchase | 7,260 | 11,652 |
| Other liabilities (related party: 2025 – $5,577 and 2024 – $4,707) | 8,205 | 6,745 |
| Liabilities of consolidated variable interest entities (related party: 2025 – $282 and 2024 – $374) | 1,760 | 1,640 |
| Total liabilities | 376,105 | 337,469 |
| Commitments and Contingencies (Note 12) | ||
| Equity | ||
| Preferred stock | — | — |
| Common stock | — | — |
| Additional paid-in capital | 19,161 | 19,588 |
| Retained earnings | 2,675 | 2,237 |
| Accumulated other comprehensive loss (related party: 2025 – $(150) and 2024 – $(245)) | (3,688) | (5,465) |
| Total Athene Holding Ltd. stockholders’ equity | 18,148 | 16,360 |
| Noncontrolling interests | 11,056 | 9,514 |
| Total equity | 29,204 | 25,874 |
| Total liabilities and equity | $405,309 | $363,343 |
(Concluded)
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