PART II
PART IV
ATHENE HOLDING LTD.
GLOSSARY OF SELECTED TERMS
Unless otherwise indicated in this Annual Report on Form 10-K, the following terms have the meanings set forth below:
Athene Holding Ltd. and Related Entities
Term or Acronym
Definition
A-A Mortgage
A-A Mortgage Opportunities, LP
AAA
AP Alternative Assets, L.P.
AAA Investor
AAA Guarantor – Athene, L.P.
AADE
Athene Annuity & Life Assurance Company, formerly known as Liberty Life Insurance Company, the parent insurance company of our U.S. insurance subsidiaries
AAIA
Athene Annuity and Life Company, formerly known as Aviva Life and Annuity Company
AAM
Athene Asset Management, L.P.
AAME
Apollo Asset Management Europe, LLP (together with certain of its affiliates)
AANY
Athene Annuity & Life Assurance Company of New York
AD
Athene Deutschland GmbH, formerly known as Delta Lloyd Deutschland AG
ADKG
Athene Deutschland Holding GmbH & Co. KG
AGS
Apollo Global Securities, LLC
AHL
Athene Holding Ltd.
ALACNY
Aviva Life and Annuity Company of New York, now known as ALICNY
ALIC
Athene Life Insurance Company
ALICNY
Athene Life Insurance Company of New York, formerly known as ALACNY
ALRe
Athene Life Re Ltd.
ALV
Athene Lebensversicherung AG, formerly known as Delta Lloyd Lebensversicherung AG
AmeriHome
AmeriHome Mortgage Company, LLC
AMTG
Apollo Residential Mortgage, Inc.
APK
Athene Pensionskasse AG, formerly known as Delta Lloyd Pensionskasse AG
Apollo
Apollo Global Management, LLC
Apollo Group
(1) Apollo, (2) the AAA Investor, (3) any investment fund or other collective investment vehicle whose general partner or managing member is owned, directly or indirectly, by Apollo or one or more of Apollo’s subsidiaries, (4) BRH Holdings GP, Ltd. and its shareholders and (5) any affiliate of any of the foregoing (except that AHL and its subsidiaries and employees of AHL, its subsidiaries or AAM are not members of the Apollo Group)
ARI
Apollo Commercial Real Estate Finance, Inc.
Athene USA
Athene USA Corporation, formerly known as Aviva USA Corporation
DLD
Delta Lloyd Deutschland AG, now known as Athene Deutschland GmbH
German Group Companies
Athene Deutschland GmbH, Athene Deutschland Holding GmbH & Co. KG, Athene Deutschland Verwaltungs GmbH, Athene Lebensversicherung AG and Athene Pensionskasse AG
Liberty Life
Liberty Life Insurance Corporation
Luxembourg subsidiary
Athene Real Estate Management Company s.a.r.l, formerly known as Delta Lloyd Real Estate Management Company s.a.r.l
MidCap
MidCap FinCo Limited
MidCap Financial
MidCap Financial Holdings, LLC
MidCap Holdings
MidCap FinCo Holdings Limited
Certain Terms & Acronyms
ABS
Asset-backed securities
ACL
Authorized control level RBC as defined by the model created by the National Association of Insurance Commissioners
ALM
Asset liability management
AUM
Assets under management
Alternative investments
Alternative investments, including investment funds, CLO equity positions and certain other debt instruments considered to be equity-like
Base of earnings
Earnings generated from our results of operations and the underlying profitability drivers of our business
Bermuda capital
The capital of ALRe calculated under U.S. statutory accounting principles, including that for policyholder reserve liabilities which are subjected to U.S. cash flow testing requirements, but excluding certain items that do not exist under our applicable Bermuda requirements, such as interest maintenance reserves.
Block reinsurance
A transaction in which the ceding company cedes all or a portion of a block of previously issued annuity contracts through a reinsurance agreement
BMA
Bermuda Monetary Authority
BSCR
Bermuda Solvency Capital Requirement
CAGR
Compound annual growth rate
CAL
Company action level RBC as defined by the model created by the National Association of Insurance Commissioners
CLO
Collateralized loan obligation
CMBS
Commercial mortgage-backed securities
CML
Commercial mortgage loans
Capital ratio
Ratios calculated (1) with respect to our U.S. insurance subsidiaries, by reference to RBC, (2) with respect to ALRe, by reference to BSCR, and (3) with respect to our German Group Companies, by reference to SCR
Cost of crediting
The interest credited to the policyholders on our fixed annuities, including, with respect to our FIAs, option costs
DAC
Deferred acquisition costs
Deferred annuities
FIAs, annual reset annuities and MYGAs
DSI
Deferred sales inducement
Excess capital
Capital in excess of the level management believes is needed to support our current operating strategy
FIA
Fixed indexed annuity, which is an insurance contract that earns interest at a crediting rate based on a specified index on a tax-deferred basis
Fixed annuities
FIAs together with fixed rate annuities
Fixed rate annuity
Fixed rate annuity is an insurance contract that offers tax-deferred growth and the opportunity to produce a guaranteed stream of retirement income for the lifetime of its policyholder
Flow reinsurance
A transaction in which the ceding company cedes a portion of newly issued policies to the reinsurer
GLWB
Guaranteed living withdrawal benefits
GMDB
Guaranteed minimum death benefits
IID
Iowa Insurance Division
IMA
Investment management agreement
IMO
Independent marketing organization
IMR
Interest maintenance reserve, which is a reserve required by U.S. statutory accounting principles to accumulate realized gains and losses resulting from fluctuations in interest rates
Invested assets
The sum of (a) total investments on the consolidated balance sheet with AFS securities at amortized cost, excluding derivatives, (b) cash and cash equivalents and restricted cash, (c) investments in related parties, (d) accrued investment income, (e) consolidated variable interest entities' assets, liabilities and noncontrolling interest and (f) policy loans ceded (which offset the direct policy loans in total investments). Invested assets also excludes assets associated with funds withheld liabilities related to business exited through reinsurance agreements and derivative collateral (offsetting the related cash positions).
Investment margin
Investment margin applies to deferred annuities and is the excess of our net investment earned rate over the cost of crediting to our policyholders
IRIS
Insurance Regulatory Information System
LIMRA
Life Insurance and Market Research Association
MCR
Minimum capital requirements