The New York Department of Financial Services is reportedly considering blocking Athene...

|By:, SA News Editor

The New York Department of Financial Services is reportedly considering blocking Athene Holding's $1.55B purchase of the U.S. annuity business of Britain's Aviva (AV) unless Athene, which is funded by an affiliate of private-equity firm Apollo Global (APO), agrees to stricter disclosure and capital requirements that don't apply to traditional insurers. The regulator is concerned that Apollo and other investment firms would take riskier bets with policy holders' money than traditional insurers would make.