Who owns Athora Holding Ltd.

Athora Holding Ltd. - Profile

Athora is a savings and retirement services group that buys, reinsures and runs traditional life insurance and pension portfolios in Europe, taking on long dated guaranteed liabilities and investing the assets behind them. It was established in Bermuda in 2014, separated from Athene in 2018, and operates insurance businesses in Belgium, Germany, Italy, the Netherlands and the United Kingdom alongside a Bermuda reinsurance company, growing through new business, portfolio transfers and acquisitions of closed and open life books. Its purchase of the British bulk annuity insurer Pension Insurance Corporation for 7.6 billion dollars lifted the group to roughly 139 billion euros of assets under management and administration and about 3.1 million policyholders, and Athora plans to move its corporate and legal headquarters from Bermuda to London by the end of 2027, putting it under Bank of England supervision.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• Apollo Global Management, Inc.. Q2 2026 10-Q (and identically worded in the FY2025 10-K, note 18): 'An AAM subsidiary and Athene are minority investors in Athora with a long-term strategic relationship. Through its share ownership, the AAM subsidiary has approximately 16% of the total voting power in Athora, and Athene holds shares in Athora representing 10% of the total voting power in Athora. In addition, Athora shares held by funds and other accounts managed by Apollo represent, in the aggregate, approximately 4% of the total voting power in Athora.' AAM (Apollo Asset Management, the asset-management operating subsidiary of AGM itself, distinct from Athene) is the entity whose 16% is recorded here as Apollo's own balance-sheet strategic stake, per the brief's distinction between a genuine minority stake and an insurance general-account holding. Athene's separate 10% and the 4% held via managed funds/accounts are NOT included here: Athene's stake sits inside the wholly owned, consolidated Retirement Services general account (excluded per the brief's insurance-portfolio rule, same treatment as MetLife and Prudential in this project) and the fund/account 4% is client capital (excluded per the 13F/client-assets rule). No dollar fair value for AAM's 16% stake is disclosed in either filing; the combined Asset Management segment 'Equity method investments' balance ($1,143 million at 30 Jun 2026, $1,278 million at 31 Dec 2025) covers many funds and co-investments together and is not split by investee, so per the rule against assigning a combined balance to one holding, value_usd is left null rather than estimated. AAM and its subsidiaries also had equity commitments outstanding to Athora of up to $57 million as of 30 Jun 2026 and additional conditional commitments of up to $2.0 billion disclosed in the FY2025 10-K in connection with Athora's acquisition of Pension Insurance Corporation, neither of which is a current ownership value. sourcesource 2