Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 128

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 128
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 50 50 Effect of actual policyholder behavior compared to expected behavior— 30 30 Balance, end of period, before changes in instrument-specific credit risk194 3,842 4,036 Effect of changes in instrument-specific credit risk— 41 41 Balance at March 31, 2025194 3,883 4,077 Less: Reinsurance recoverable— 47 47 Balance at March 31, 2025, net of reinsurance$194 $3,836 $4,030 Net amount at risk$421 $15,599 Weighted-average attained age of contract holders (in years)7669

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Three months ended March 31, 2024(In millions, except years)Traditional Deferred AnnuitiesIndexed AnnuitiesTotalBalance at December 31, 2023$192 $3,181 $3,373 Effect of changes in instrument-specific credit risk2 (10)(8)Balance, beginning of period, before changes in instrument-specific credit risk194 3,171 3,365 Issuances— 93 93 Interest accrual3 47 50 Attributed fees collected1 86 87 Benefit payments(2)(15)(17)Effect of changes in interest rates(8)(220)(228)Effect of changes in equity— (73)(73)Effect of actual policyholder behavior compared to expected behavior2 25 27 Balance, end of period, before changes in instrument-specific credit risk190 3,114 3,304 Effect of changes in instrument-specific credit risk(1)37 36 Balance at March 31, 2024189 3,151 3,340 Less: Reinsurance recoverable— 10 10 Balance, at March 31, 2024, net of reinsurance$189 $3,141 $3,330 Net amount at risk$425 $14,995 Weighted-average attained age of contract holders (in years)7669The following is a reconciliation of market risk benefits to the condensed consolidated statements of financial condition. Market risk benefit assets are included in other assets on the condensed consolidated statements of financial condition.March 31, 2025(In millions)AssetLiability