Statutory Requirements (Tables)

12 Months Ended

Dec. 31, 2023

Statutory Accounting Practices Disclosure

The following represents the EBS capital and surplus and BSCR ratios:


	December 31, 20231		December 31, 2022
(In millions, except percentages)	EBS capital & surplus		BSCR ratio		EBS capital & surplus		BSCR ratio
ALRe	$	18,245	233	%	$	16,759	256	%
AARe	26,647		291	%	21,876		278	%
ACRA 1A	5,296		219	%	5,993		262	%
ACRA 2A	3,717		353	%	198		N/A

1 Amounts reported reflect Athene’s best estimates as of the date these financial statements were issued and exclude the impact of any deferred taxes that may be recorded on a statutory basis as a result of the enactment of the Bermuda CIT.

The following represents the effect of the permitted practices to the statutory financial statements:


	December 31, 2023
(In millions)	ALRe		AARe		ACRA 1A		ACRA 2A
Increase (decrease) to capital and surplus due to permitted practices	$	3,031	$	8,619	$	4,105	$	(938)
Increase (decrease) to statutory net income due to permitted practices	(1,593)		(8,278)		(1,471)		(930)

The following represents the maximum distribution Athene’s Bermuda subsidiaries would be permitted to remit to its parent without the need for prior approval:


(In millions)	December 31, 2023		December 31, 2022
ALRe	$	7,023	$	5,550
AARe	8,012		7,050
ACRA 1A	1,614		1,912
ACRA 2A	30		—

Athene’s regulated U.S. subsidiaries and the corresponding insurance regulatory authorities are as follows:


Subsidiary			Regulatory Authority
AADE			Delaware Department of Insurance
AAIA			Iowa Insurance Division
AANY			New York Department of Financial Services
Athene Re USA IV			State of Vermont Department of Financial Regulation

The following table presents, for each of Athene’s primary insurance subsidiaries, the statutory capital and surplus and the statutory net income (loss), based on the most recent statutory financial statements to be filed with insurance regulators:


	Statutory capital & surplus				Statutory net income (loss)
(In millions)	December 31, 2023		December 31, 2022		Year ended December 31, 2023		Year ended December 31, 2022
ALRe	$	14,474	$	13,084	$	832	$	937
AARe	17,773		17,126		408		1,329
ACRA 1A	5,092		5,637		297		(87)
ACRA 2A	1,952		198		(759)		(2)
AADE	3,144		2,298		—		(20)
AAIA	2,876		2,067		(209)		(238)
AANY	290		284		(3)		(23)

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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