ATI Announced That It Will Purchase Group Annuity Contracts From Each Of Athene Annuity And Life Company And Athene Annuity & Life Assurance Company Of New York Transferring ~85% Of Its U.S. Qualified Defined Benefit Pension Plan Obligations To Athene
Portfolio Pulse from Benzinga Newsdesk
ATI has announced its plans to purchase group annuity contracts from Athene Annuity and Life Company and Athene Annuity & Life Assurance Company of New York. This move will transfer approximately 85% of ATI's U.S. qualified defined benefit pension plan obligations to Athene.
October 18, 2023 | 12:20 pm
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POSITIVE IMPACT
Athene's acquisition of ATI's pension plan obligations could potentially increase its assets under management and generate steady income streams.
By acquiring ATI's pension obligations, Athene is increasing its assets under management. This could lead to increased revenue from management fees and potentially steady income streams from the pension plan payments.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
ATI's decision to transfer a significant portion of its pension plan obligations could potentially reduce its financial risk and improve its balance sheet.
By transferring a large portion of its pension obligations, ATI is effectively reducing its long-term liabilities. This could make the company more attractive to investors as it indicates a proactive approach to managing financial risk.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100