By Kerry Pechter
The largest borrower from the Federal Home Loan Bank (FHLB) system in 2024 was Athene Annuity and Life, at more than $15 billion. For at least 16 other top annuity issuers, FHLB loans are a key source of "fungible," low-cost borrowed capital.
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TPG and Aquarian Holdings Vie to Acquire Brighthouse
Brighthouse is a top-10 annuity issuer, with over $100 billion in assets. But neither Brighthouse (or its predecessor, MetLife) ever sold many of the fixed indexed deferred annuities whose issuers asset managers have been acquiring as sources of capital for their private credit businesses.
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