Athene Holding (ATH -6.9%) will pay a $45M penalty to New York State for New York Insurance Law violations related to its subsidiary Athene Annuity & Life Company and its pension risk transfer business.
The New York State Department of Financial Services revealed that the company solicited and did insurance business in New York without a license.
The company will transfer the handling of transactions from Athene Annuity & Life Company to its New York-based subsidiary, Athene Annuity & Life Assurance Company of New York.
