A month and a half after Aviva’s CFO said the company was willing to part with its life division at a discounted rate, Athene Holding Ltd., a Bermuda-based insurance holding company, has announced it will acquire Aviva’s U.S. annuity and life insurance operations, including Aviva Life and Annuity Company, based in Iowa, and Aviva Life and Annuity Company of New York.
Athene will acquire Aviva USA, which has approximately $56 billion of statutory admitted assets as of Sept. 30, 2012, for a purchase price of $1.55 billion. The transaction is expected to close in 2013, subject to customary conditions and regulatory approvals.
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