June 18, 2020 / 11:28 AM / 19 days ago

BRIEF-Apollo Announces Further Expansion Of Its Insurance Asset Management Business

June 18 (Reuters) - Apollo Global Management Inc:

* APOLLO ANNOUNCES FURTHER EXPANSION OF ITS INSURANCE ASSET MANAGEMENT BUSINESS

* APOLLO GLOBAL - ENTERED INTO FIXED ANNUITY BLOCK REINSURANCE TRANSACTION WITH JACKSON, A SUBSIDIARY OF PRUDENTIAL PLC

* APOLLO GLOBAL MANAGEMENT - UNDER TERMS, ATHENE WILL REINSURE $27 BILLION IN-FORCE BLOCK OF FIXED DEFERRED AND FIXED INDEXED ANNUITIES

* APOLLO GLOBAL- ATHENE WILL MAKE $500 MILLION EQUITY INVESTMENT IN JACKSON, REPRESENTING 11% STAKE IN CO

* APOLLO GLOBAL MANAGEMENT - ATHENE WILL ALSO MAKE $500 MILLION EQUITY INVESTMENT IN JACKSON NATIONAL LIFE INSURANCE CO, REPRESENTING AN 11% STAKE

* APOLLO GLOBAL MANAGEMENT - EXPECTS JACKSON DEAL WILL BE IMMEDIATELY ACCRETIVE

* APOLLO GLOBAL MANAGEMENT - FULL FINANCIAL EFFECT OF JACKSON TRANSACTION EXPECTED TO BE ACHIEVED ON RUN RATE BASIS IN H2 2021 Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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