Athene Holding Ltd. (NYSE:ATH) Q1 2020 Earnings Conference Call - Final Transcript

May 08, 2020 • 10:00 am ET

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Athene Holding Ltd. (NYSE:ATH) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning. My name is Lori, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Athene First Quarter 2020 Earnings Conference Call and Webcast. All participant lines have been placed in a listen-only mode to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. I will now turn the call over to Noah Gunn, Head of Investor Relations. Please go ahead.

Executive
Noah Gunn

Thanks, Lori, and good morning, everyone. Welcome to our first quarter 2020 earnings call. Joining me this morning are Jim Belardi, Chairman and CEO; Bill Wheeler, President; and Marty Klein, our Chief Financial Officer. As a reminder, this call may include forward-looking statements and projections, which do not guarantee future events or performance. We do not revise or update such statements to reflect new information, subsequent events or changes in strategy.

Please refer to our most recent quarterly and annual reports and other SEC filings for a discussion of the factors that could cause actual results to differ materially from those expressed or implied. We'll be discussing certain non-GAAP measures on this call, which we believe are relevant in assessing the financial performance of the business. Reconciliations of these non-GAAP measures can be found in our earnings presentation and financial supplement, which are available at ir.athene.com.

And with that, I'll now turn the call over to Jim Belardi.

Executive
James R. Belardi

Thanks, Noah, and good morning, everybody. Before discussing our business, I'd like to start by acknowledging that we hope you and your families are healthy and safe during these challenging times. On behalf of our team, we'd like to extend our deepest thanks to all the health care professionals and others who are on the frontlines of battling the COVID-19 pandemic. We are supporting their tremendous efforts in various ways, including the recent donations of masks to a local Des Moines hospital near our U.S. headquarters as well as leading a joint effort to purchase much needed ventilators for hospitals in Bermuda.

I would also like to thank our team of more than 1,300 Athene employees for their continued hard work and commitment to the Company in the face of extraordinary circumstances. The enduring stability of our business and our mission to provide retirement savings solutions for hundreds of thousands of our customers would not be possible without all of their individual contributions.

As we mentioned during our special investor call in late March, our team at Athene rapidly adjusted to working remotely as the crisis unfolded, preserving crucial business continuity that has allowed us to remain fully operational over the past couple months. Our team remains focused on executing and serving our 1 million policyholders as well as our business partners at a high standard.

Clearly, the extraordinary circumstances around COVID-19 and related market volatility has disrupted nearly every corner of the market. Many companies are facing the realities of zero revenue in the short run. At Athene, our business model is structurally