Investors continue to favor Athene Holding Ltd. preferred shares, with all four series maintaining a Buy rating. Backed by Apollo Global Management’s balance sheet, these preferreds exhibit strong non-cumulative dividends and competitive yields that outpace peers such as MetLife and Prudential. Recent call activity from the issuer—redeeming $150 million of the 6.00% series and remarketing $200 million of the 5.75% series—reinforces confidence in Athene’s capital management strategy.

Athene’s preferred issues benefit from a dividend coverage ratio of 26x and a capital coverage ratio of 14x, based on the insurer’s consolidated statutory surplus of $16 billion as of September 30, 2025. These metrics far exceed industry thresholds, significantly reducing the likelihood of dividend suspension or default. All preferred issues carry a BBB rating from major agencies, reflecting Athene’s solid credit profile.

In its recently released 2026 Retirement Outlook, Athene projects a total addressable market exceeding $45 trillion for retirement solutions, driven by 12,000 Americans entering retirement age each day. CEO Grant Kvalheim highlighted a $4 trillion savings gap that is propelling demand for guaranteed income products; Athene expects annuity sales to rise by 15% year-over-year as savers seek pension-like stability against inflation and market volatility.

As of September 30, 2025, Athene managed $430 billion in total assets across the U.S., Bermuda, Canada and Japan. The company is expanding private market allocations within its annuity portfolios—currently 10% of total assets—to narrow the yield gap with institutional pension plans, which typically hold 25% in alternatives. Athene’s multi-channel distribution network grew net inflows by 12% in 2025, driven by record sales of fixed and indexed annuities.