Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 122

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 122
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 contract liabilities to the condensed consolidated statements of financial condition:March 31,(In millions)20252024Traditional deferred annuities$96,697 $70,830 Indexed annuities99,429 94,848 Funding agreements63,819 39,089 Other investment-type8,318 7,748 Reconciling items15,176 7,719 Interest sensitive contract liabilities$273,439 $220,234 1 Reconciling items primarily include embedded derivatives in indexed annuities, unaccreted host contract adjustments on indexed annuities, negative VOBA, sales inducement liabilities, and wholly ceded universal life insurance contracts.The following represents policyholder account balances by range of guaranteed minimum crediting rates (“GMCR”), as well as the related range of the difference between rates being credited to policyholders and the respective guaranteed minimums. Athene’s funding agreements and other investment-type products provide Athene little to no discretionary ability to change the rates of interest payable to the respective policyholder or institution, and as a result, those policyholder account balances are excluded from the following tables.March 31, 2025(In millions)At Guaranteed Minimum1 Basis Point – 100 Basis Points Above Guaranteed MinimumGreater than 100 Basis Points Above Guaranteed MinimumTotalTraditional deferred annuities< 2.0%$4,759 $1,620 $77,515 $83,894 2.0% - < 4.0%6,194 634 1,997 8,825 4.0% - < 6.0%3,972 2 1 3,975 6.0% and greater3 — — 3 Total traditional deferred annuities$14,928 $2,256 $79,513 $96,697 Indexed annuities< 2.0%$1,658 $1,211 $3,129 $5,998 2.0% - <4.0%4,276 44 186 4,506 Total indexed annuities with GMCR5,934 1,255 3,315 10,504 Other188,925 Total indexed annuities$99,429 1 Includes account value allocated to an indexed strategy or other amounts without a GMCR.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO COND