Company Snapshot: A Young Carrier Backed by Apollo Global Management
Athene Annuity and Life Company, headquartered in West Des Moines, Iowa, was founded in 2009 — making it considerably younger than legacy carriers such as New York Life (1845) or MassMutual (1851) that are also covered on this site. What sets Athene apart is not a long operating history but its ownership structure: Athene is a subsidiary of Apollo Global Management (NYSE: APO), a large institutional asset manager, following a merger completed in January 2022. Apollo’s investment management expertise underpins how Athene manages the assets backing its annuity guarantees, which is a meaningfully different model from the mutual-company structures used by several other carriers on this site.
Despite its comparatively short history, Athene has been the top seller of retail annuities in the U.S. for three consecutive years, and publicly available 2026 third-party sources cite a strong A+ (Superior) financial strength rating from AM Best. Current ratings should be verified directly with each agency and with Athene before this page is published, since ratings and outlooks can change. Athene also participates significantly in the institutional pension risk transfer market, helping corporations offload pension obligations, though that business line is separate from the retail annuity products covered on this page.
The Athene Product Family
| Product | Product Type | Key Structure | What It’s Designed For |
|---|---|---|---|
| Performance Elite / Performance Elite Plus | Fixed indexed annuity (accumulation-focused) | Wide range of index crediting strategies, an optional Premium Bonus credited at issue, an optional Liquidity Rider (Plus version) for enhanced free withdrawals, and a Strategy Preset feature for hands-free allocation. | Growth-oriented savers who want strong accumulation potential and are comfortable evaluating multiple index strategy options. |
| Accumulator | Fixed indexed annuity (accumulation-focused) | Preset Allocation options for simplified diversification, exclusive index choices, and an optional Legacy Rider that provides guaranteed growth to a death benefit rider’s benefit base. | Consumers who want accumulation-focused growth with a simplified allocation approach and optional legacy planning. |
| AccuMax | Fixed indexed annuity (accumulation-focused) | Single-term and multi-year crediting strategies with competitive participation rates and downside protection from market losses. | Savers comparing straightforward accumulation-focused FIA structures. |
| Agility | Fixed indexed annuity (income and growth) | Built-in income and death benefit rider included at no additional charge, alongside growth potential and liquidity features. | Consumers who want income and death benefit flexibility without paying for an optional rider. |
| Ascent Pro | Fixed indexed annuity (income-focused) | Choice of two growth options (including a guaranteed simple interest rate blended with interest credits) and three income payment options; includes a Premium Bonus and free withdrawals from the first contract year. | Retirees who want to maximize future guaranteed income potential with more structural choice than a standard income rider. |
| MaxRate | Multi-year guaranteed annuity (MYGA) | Fixed interest rate locked in for a selected term, commonly 3, 5, or 7 years. | Conservative savers who want simple, guaranteed-rate accumulation comparable to a CD. |
Product availability, bonus percentages, crediting strategies, and state approvals vary by product and change over time. This table should be checked against current Athene product brochures and state approval lists before the page goes live.
Which Product Fits Your Goal?
| If the Goal Is … | Consider Comparing … | Because |
|---|---|---|
| Maximum accumulation growth potential | Performance Elite / Performance Elite Plus | Offers a wide range of index strategies and rates that are frequently among the most competitive in the FIA market. |
| Simplified diversification with legacy planning | Accumulator | Preset Allocation options simplify diversification, with an optional Legacy Rider for beneficiaries. |
| Straightforward accumulation without added complexity | AccuMax | Single-term or multi-year crediting strategies with a simpler structure than bonus-focused products. |
| Built-in income and death benefit at no extra rider cost | Agility | Includes an income and death benefit rider automatically, without an additional charge. |
| Maximizing future guaranteed income | Ascent Pro | Offers a choice of growth structures and three income payment options built around income maximization. |
| Simple guaranteed-rate growth, no market exposure | MaxRate (MYGA) | Fixed rate for a selected term, comparable to a CD. |
Benefits to Consider
- Institutional-grade asset management backing through parent company Apollo Global Management, a structurally different model than the mutual companies covered elsewhere on this site.
- Top seller of retail annuities in the U.S. for three consecutive years, indicating strong market presence despite the company’s shorter operating history.
- A broad accumulation-focused FIA lineup (Performance Elite, Accumulator, AccuMax) offering multiple index strategies and consistently competitive crediting rates.
- No-additional-charge built-in income and death benefit riders on Agility, which some competing products only offer as a paid add-on.
- Broad state availability, with products offered in almost all U.S. states, though specific product availability varies.
As with any carrier, a feature is only a benefit if it matches the consumer’s actual goal. A premium bonus on Performance Elite or Ascent Pro may come with a longer withdrawal charge period or lower cap than a non-bonus equivalent, so it should be evaluated against the consumer’s actual liquidity and growth priorities, not treated as free money.
Risks and Limitations
- Athene’s operating history dates only to 2009, which is materially shorter than several other carriers on this site; consumers who weight long-term track record heavily should factor this in alongside the current financial strength rating.
- Premium Bonus annuities across the Athene lineup typically include a bonus vesting schedule and may carry a lower cap rate, lower participation rate, or other limitations compared with similar non-bonus Athene products.
- Athene does not offer variable annuities, so consumers specifically wanting full market-subaccount exposure with living-benefit riders should compare other carriers on this site.
- Optional riders, including the Liquidity Rider on Performance Elite Plus and the Legacy Rider on Accumulator, carry additional charges that reduce the base contract value or benefit base over time.
- Annuity guarantees are backed by the claims-paying ability of Athene Annuity and Life Company, or in New York, Athene Annuity & Life Assurance Company of New York, not by FDIC insurance.
Consumers should request a current product brochure, illustration, and state-specific disclosure directly tied to the exact product being considered, since terms vary by state and change over time.
Who Might Consider This Carrier?
An Athene annuity may be worth reviewing for retirees and pre-retirees who want a market-leading FIA seller with institutional backing: accumulation-focused savers comparing Performance Elite, Accumulator, or AccuMax, income-focused buyers comparing Agility’s no-cost rider or Ascent Pro’s income-maximization structure.
Who May Not Be a Fit
This carrier’s products may not be a fit for consumers who weight a carrier’s long operating history heavily and prefer a century-old insurer, buyers specifically wanting a variable annuity (which Athene does not offer), or those uncomfortable with the market-linked risk of a RILA beyond its buffer level.
FAQs: Your Questions Answered
Annuity contracts are generally governed by the state where the contract was issued, but the availability of new products and riders can vary by state. Consumers who relocate should review their contract with an advisor.
Independent agencies such as AM Best, S&P, Moody’s, and Fitch assign financial strength ratings based on the insurer’s ability to meet its claims obligations. Check these ratings directly with the rating agency for the most current information.
An independent comparison can help you evaluate multiple carriers instead of focusing on one product illustration or brand name.
Review surrender charges, rider fees, administrative fees, mortality and expense charges if applicable, and any product-specific costs.
They may be appropriate for some retirees, especially those seeking protection, tax deferral, or income planning. They may not be appropriate for retirees needing full liquidity or high growth potential.
Some products may offer fixed rates, while indexed or market-linked products use crediting formulas. Renewal rates, caps, spreads, and participation rates may change after the initial period.
Compare financial strength, rates, surrender schedules, income features, rider costs, crediting methods, liquidity provisions, and whether the contract fits your retirement plan.
Many annuity carriers offer products or riders that may support lifetime income. Review the current contract and illustration for availability and terms.
It depends on the product. Some fixed annuities protect principal from market losses, while variable or registered index-linked products may involve market-related risk. Surrender charges may also reduce the value if you withdraw funds early.
Safety depends on product type and the issuing insurance company. Fixed annuity guarantees are backed by the claims-paying ability of the insurer and are not the same as FDIC insurance.
Product lines can change, but carrier pages commonly include fixed, indexed, income, RILA, MYGA, or variable annuity categories depending on the company. Verify current product availability before purchase.
Athene may be worth considering depending on the product, current carrier strength, state availability, and your retirement goals. The right question is not whether one company is universally best, but whether a specific contract fits your plan.