Athene
- Thread starter WPM
- Start date
- 10,708
WPM said:Any thoughts on Athene? They seems to have fairly high caps on their FIA'a and nice MYGA rates. B rated, though.
What say you?
They are literally a 2min drive from my house (at least their main admin office is).
They used to be liberty life but were bought out by Athene.
They decided to refocus on annuities.
They seem to have nice rates at the moment but as you said, the B rating is a bit uncomfortable...
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- #3
A buddy of mine wrote quite a bit of FA premium with them a few years ago when they were RBC, but now he won't even consider them bc of their ratings.
The policies are still on the books and he's not looking to move them, though.
I know that A rated companies have blown up in the past and there are some smaller, lower rated companies that have been around forever - so I hate to ignore a good option for my clients.
scagnt83, since you are right down the street, it's not a couple of teenagers working out of their garage, is it?
The policies are still on the books and he's not looking to move them, though.
I know that A rated companies have blown up in the past and there are some smaller, lower rated companies that have been around forever - so I hate to ignore a good option for my clients.
scagnt83, since you are right down the street, it's not a couple of teenagers working out of their garage, is it?
- 10,708
Yeah, RBC used to have some good options.
They are the real deal.
They basically bought out RBC/Liberty/whatever and set up their Annuity Division in RBCs old Greenville SC office.
I have thought about just walking in there one day to check things out... Im surprised they havent had wholesalers up every agent in towns a#s... they should!
Athene seems to be a decent company. I've marketed their Annuities since Liberty Life was with RBC.. Athene has some good MYGA rates right now and the caps on the FIAs are still high compared to the competition out there. They have a decent income rider option for their FIAs that rolls up at 6%. They aren't going to be your top income rider payout if that's what you're looking for, but it gives the client cash accumulation potential along with the Income option..
And as far as their rating, they are rated B++ AM Best not B..
And as far as their rating, they are rated B++ AM Best not B..
- 227
Actually, Athene just raised the roll up on their income rider back to 7%. At 1.25% or 1.5% for the enhanced version, it is an expensive rider. But when taking into consideration their caps relative to the cost of the rider...not too shabby.
I was on a webinar with them a few weeks back- they mentioned the B rating and the reasons for the B, can't remember though- doh! take better notes Forrest! They look like a good option for some of their products, just hard to pull the hendle on them until they can get their ratings up in the A's. I's say give them time and see if they can resolve this with Best and the rest of the herd.
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I had an agent call me today and a majority of his clients are unhappy with the old RBC policies that he placed them in, and now that Athene has taken over they have seen even less interest credited to their accounts. That is just one agents feedback, but thought I would share.
I know that a-lot of those old RBC polices have a positive MVA as well. You guys know how that works.
I know that a-lot of those old RBC polices have a positive MVA as well. You guys know how that works.
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