Athene Holding Ltd (NYSE: ATH) has reported the 52 percent growth in the net income to $126 million in the fourth quarter 2016 or 52% over the prior year fourth quarter. This increase was driven primarily due to the $40 million increase in operating income, net of tax and a favorable net change in FIA derivatives due to an increase in discount rates in the fourth quarter. The operating income, net of tax for the fourth quarter grew by 16% to$40 million, over the prior year fourth quarter, due to the higher income from the fixed, other and alternative investments and higher earnings from the German business. This was partially offset by higher liability costs driven by an increase in rider reserve movements due to growth and higher than expected persistency. Additionally, the fourth quarter of 2015 benefited from favorable mortality gains and a deferred tax valuation allowance release.

Moreover, Athene in December had begun trading on the NYSE under the stock symbol “ATH” with the market capitalization of approximately $10 billion. As of December 31st, 2016 Athene shareholders’ equity has increased 29% year-over-year to $6.9 billion and Athene shareholders’ equity ex. AOCI increased 17% year-over-year to $6.5 billion. In the first quarter of 2017, the company had issued $650 million of funding agreements backed notes (FABNs), which is the company’s most successful issuance to date, and ATH expects the demand to continue for this product. In 2017, Athene Holding will build on the momentum, continuing to expand and diversify the product portfolio, which in combination with the differentiated business model, strong balance sheet, and substantial excess capital, to continue to create significant shareholder value. Further, Athene and Apollo have agreed, subject to shareholder approval, to implement a new fee framework, which is expected to reduce investment management fees in support of further prudent growth.

Meanwhile,  Athene Holding Ltd., a Bermuda-based insurance holding company, has announced its 2017 national brand campaign and continues to communicate its commitment to a high level of performance and brand ethos “Driven to Do More.” The integrated campaign amplifies awareness for Athene Holding through TV, print and digital communications.

Athene Holding stock has risen 16.69% in the last one year (source: Google Finance).