Quarterly ResultMay 7, 2026, 05:32 PM
Athene Holding Q1 Net Loss $(1.97)B Due to $1.7B Tax Expense
AI Summary
Athene Holding Ltd. reported a net loss of $(1.97) billion for the first quarter of 2026, a significant decline from the previous quarter and year-ago period. This loss was primarily driven by a one-time tax expense of $1.7 billion resulting from the revocation of ACRA's election to be subject to Bermuda CIT, leading to a full valuation allowance against Bermuda deferred tax assets. Despite the GAAP loss, non-GAAP spread related earnings decreased by 17% quarter-over-quarter to $719 million.
Key Highlights
- Athene Holding reported a Q1 2026 net loss of $(1.97) billion, down from $488 million in Q4 2025.
- The net loss was primarily due to a one-time tax expense of $1.7 billion related to Bermuda CIT changes.
- Non-GAAP spread related earnings for Q1 2026 were $719 million, a 17% decrease Q/Q.
- Net spread for Q1 2026 was 0.97%, down 23 basis points Q/Q and 29 basis points Y/Y.
- Total assets increased 1% Q/Q to $447.8 billion as of March 31, 2026.
- Total Athene Holding Ltd. stockholders' equity decreased 13% Q/Q to $17.85 billion.
- Adjusted leverage ratio increased to 25.9% from 24.4% in Q4 2025.
- Gross organic inflows for Q1 2026 were $19.75 billion, up 56% Q/Q but down 23% Y/Y.