Last updated: April 28, 2026 | By Elizabeth Prescott
- Athene led U.S. annuity sales for the third consecutive year in 2025 and continued the streak through Q1 2026.
- Athene reported over $440 billion in total assets at year-end 2025 and preliminary Q1 2026 alternative net investment income of $205 million (about a 6% annualized return).
- The company will host a Fixed Income Investor call on May 15, 2026 to discuss Q1 results and the 2026 origination outlook.
- Apollo Global Management, Athene’s parent, signaled continued growth in retirement services as the strategic priority of the combined platform.
Athene continues to dominate the U.S. annuity market in 2026. The Bermuda- and Iowa-based annuity issuer, owned by Apollo Global Management, topped industry sales tables for the third consecutive year in 2025 and entered Q1 2026 with momentum on both new business origination and investment performance.
Athene reported total assets of more than $440 billion as of December 31, 2025, with operations in the United States, Bermuda, Canada, and Japan. The company announced it will host a Fixed Income Investor call on May 15, 2026 at 10:00 AM ET, where senior management will discuss current business trends, new business origination, the investment portfolio, and capital position.
Q1 2026 Preliminary Numbers
Apollo’s preliminary Q1 2026 update estimated alternative net investment income of $205 million attributable to retirement services, equating to roughly a 6% annualized return. Athene’s pooled investment book delivered an estimated 7% return, while other alternative investments came in at 3%.
The numbers are consistent with Athene’s investment philosophy: a yield-seeking, longer-duration credit allocation – including private credit and structured credit – funded by long-dated annuity liabilities. That structural duration match has driven Athene’s competitive MYGA and FIA rates over the past three years.
What Athene’s Lead Means for Annuity Buyers
Athene’s market leadership is relevant to retirees and pre-retirees considering a fixed annuity for three reasons:
- Rate competitiveness. Athene’s MYGA and FIA rates are consistently among the highest from any A-rated carrier. Through April 2026, Athene’s 5-year MYGA has topped the A-rated market in most weeks. See current quotes on our best MYGA rates page.
- Carrier capacity. Record sales mean Athene is reinvesting tens of billions of dollars annually, which generally supports continued strong renewal pricing and product availability.
- Rating trade-off. Athene carries an AM Best A rating (not A+ or A++). Buyers comparing Athene to New York Life (A++) or Pacific Life (A+) are effectively choosing between higher yield and a higher financial strength notch.
The Apollo Question
Athene’s ownership by Apollo Global Management remains the most-discussed structural feature of the carrier. Critics point to alternative-credit allocations and Bermuda reinsurance arrangements as risk factors. Supporters point to the asset-liability match, sustained AM Best A rating affirmations, and three consecutive years of #1 industry sales.
The May 15 investor call is expected to address both the Q1 2026 results and the strategic direction of the Apollo-Athene retirement services platform. Apollo executives have signaled in recent quarters that retirement services – principally Athene – will remain a core growth engine for the combined firm through 2030.
How Athene Stacks Up in 2026
For context, Athene’s 2025 sales of approximately $18.6 billion put it ahead of the next-largest fixed annuity issuers including New York Life, MassMutual, Corebridge Financial, and Nationwide. See our 2026 ranking of the best fixed annuity companies for the full top-eight breakdown.
