Athene announces buyer for Aviva USA Life Business

Athene Holding Ltd. (“Athene”) has announced it has agreed to sell Aviva USA’s life insurance business to Commonwealth Annuity and Life Insurance Company. Commonwealth is a Massachusetts domiciled insurance company that is rated “A-” by AM Best. The sale of the Aviva life business is expected to close simultaneously with the closing of the Aviva USA’s sale to Athene later this year.

Commonwealth had indicated it plans to build a local team in Des Moines as part of this acquisition, hiring members of Aviva’s existing Iowa-based group, to manage the life insurance business. While Commonwealth does not currently write life insurance business, they are interested in exploring distribution capabilities of Aviva’s platform to expand into the life business.

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This news answers some questions regarding the future of Aviva USA’s life insurance business when, in December, Athene made clear that its strategic focus was on growing the annuity business and would be selling the life business to another. Creative believes this announcement is a positive development for Aviva USA.

We anticipate that this sale will have a positive impact on our ability to deliver the same high-value array of producer services and product consultation you’ve come to know and trust. Transactions like this one, typically take months to receive the necessary regulatory reviews and approvals so this story will be part of our landscape for a while. We will keep you posted on the progress of this and will share new information through our website, email and phone conversations. In the meantime, Creative Marketing will continue to be your valued partner in both your Life and Annuity business.

You are welcome to discuss developments with any member of the Creative Marketing leadership team or one of our sales consultants. Moreover, we recognize some clients will read about this event in their newspaper or online and we want to help you reassure them that their Aviva USA life insurance policy is as financially secure as ever.

Creative Marketing remains committed to providing you with the most competitive insurance products and services now and into the future. We look forward to working together for many more years and are confident we will achieve success through our partnership.

Thank you very much for the continued opportunity to serve you.

Mike Tripses, President, Creative Marketing