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West Des Moines life insurance giant Athene announces merger with Apollo

Disappointed by its stock price, West Des Moines life insurance company Athene Holding will merge back with the private equity company that helped start it in a deal valued at $11 billion. The company announced the merger with New York investment firm Apollo Global Management on Monday, a move that Athene CEO James Belardi told investors will create a financial juggernaut. Executives for both companies said they hope the deal will make investors more confident, driving up share prices. The companies expect to complete the merger in January 2022. Driving the move: Executives for both Athene and Apollo feel investors are not properly valuing the life insurance company on the stock exchange. 

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