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Liberty Life Insurance announces its re-insurance transaction

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Liberty Life Insurance Company recently announced it has re-insured $3.1 billion of fixed annuities and similar liabilities which now places the company's assets in excess of $7 billion.

Athene Holding, Liberty Life's Bermuda-based parent, will have assets of roughly $10 billion and equity of more than $750 million on a consolidated basis.

"We continue to execute our plan to build a market-leading retirement savings company through organic growth, reinsurance and strategic acquisitions," said James Belardi, CEO of Athene Holding. "This re-insurance transaction, combined with the promising results we are seeing from our retail business, reflects the underlying strength of our business model."

Consumers interested in investing in an annuity will want to first consult a licensed financial professional. Annuities are different from life insurance policies in that they serve to benefit the purchaser during his or her lifetime and can even be used to help fund retirement in addition to other expenses.

Life insurance, on the other hand, is designed to benefit the purchaser's dependents and loved ones and provide for them financially long after the policyholder has passed on. Comparing life insurance quotes online will reveal the most attractive rate for different policies.

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