Athene Holding Ltd. Names Stephen E. Cernich as Interim Chief Actuary

PEMBROKE, Bermuda--(BUSINESS WIRE)-- Athene Holding Ltd. (“Athene Holding,” together with its subsidiaries, “Athene” or the “Company”) announced today that, subject to pending board approvals, the Company has named Stephen E. Cernich as Interim Chief Actuary of Athene. Mr. Cernich will be replacing Matt Easley, who is no longer with the Company.

Mr. Cernich assumed responsibility for Athene’s actuarial reporting lines in August 2014 as part of the Company’s ongoing actuarial remediation plan. Mr. Easley, in his role as Athene’s Chief Actuary, had reported directly to Mr. Cernich.

Mr. Cernich is a founding employee and Executive Vice President of Athene who oversees many of the Company’s growth initiatives and previously served as Chief Actuary of Athene for two-and-a-half years. He received a Bachelor of Science in Mathematics from the University of Notre Dame and his Master of Business Administration from the University of Chicago. He is a member of the American Academy of Actuaries, an Associate of the Society of Actuaries, and a Chartered Financial Analyst (CFA) charterholder. Mr. Cernich will serve as Interim Chief Actuary while Athene’s management team conducts a search for Mr. Easley’s replacement.

Athene Holding President Grant Kvalheim said: “We are pleased that Steve will be reassuming his role as Chief Actuary of Athene on an interim basis. We believe Steve’s actuarial background and knowledge of all facets of Athene’s business will be instrumental in our efforts to remedy the material weakness previously identified in our Actuarial function as we hire a new Chief Actuary for the Company.”

About Athene Holding Ltd.

Athene Holding, through its subsidiaries, is a leading provider of products in the retirement savings market. Athene’s principal subsidiaries include Athene Annuity & Life Assurance Company and Athene Life Insurance Company, Delaware-domiciled insurance companies, Athene Annuity and Life Company, an Iowa-domiciled insurance company, Athene Annuity & Life Assurance Company of New York and Athene Life Insurance Company of New York, New York-domiciled insurance companies, and Athene Life Re Ltd., a Bermuda-domiciled reinsurer.

Athene Holding provides investment solutions, including tax-efficient savings products, to support retirees as well as those saving for retirement. The products offered by Athene include:

• Retail fixed and equity indexed annuity products
• Institutional products, such as funding agreements
• Co-insurance and reinsurance arrangements with third-party annuity providers

Further information about our companies can be found at www.athene.bm.

Athene Companies (U.S. operations)
Karen Lynn, 515-342-3910
KLynn@athene.com
or
Amanda Steward, 515-342-6403
ASteward@athene.com
or
Athene Holding Ltd. or Athene Life Re Ltd. (Bermuda)
Tab Shanafelt, 441-279-8414
enquiries@athene.bm

Source: Athene Holding Ltd.

Released November 18, 2014