Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 220

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 220
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 $247,320 December 31, 2023(In millions)At Guaranteed Minimum1 Basis Point – 100 Basis Points Above Guaranteed MinimumGreater than 100 Basis Points Above Guaranteed MinimumTotal< 2.0%$30,339 $18,954 $100,609 $149,902 2.0% – < 4.0%27,792 2,074 1,389 31,255 4.0% – < 6.0%11,532 17 1 11,550 6.0% and greater5,182 — — 5,182 Total$74,845 $21,045 $101,999 $197,889 December 31, 2022(In millions)At Guaranteed Minimum1 Basis Point – 100 Basis Points Above Guaranteed MinimumGreater than 100 Basis Points Above Guaranteed MinimumTotal< 2.0%$25,031 $26,020 $72,776 $123,827 2.0% – < 4.0%33,325 1,408 284 35,017 4.0% – < 6.0%8,277 10 6 8,293 6.0% and greater1,202 — — 1,202 Total$67,835 $27,438 $73,066 $168,339 Future policy benefits – Future policy benefits consist primarily of payout annuities, including single premium immediate annuities with life contingencies (which include pension group annuities with life contingencies), and whole life insurance contracts.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following is a rollforward by product within future policy benefits:Year ended December 31, 2024(In millions, except percentages and years)Payout Annuities with Life ContingenciesWhole LifeTotalPresent value of expected net premiumsBeginning balance$— $1,182 $1,182 Effect of changes in discount rate assumptions— (45)(45)Effect of foreign exchange on the change in discount rate assumptions— (2)(2)Beginning balance at original discount rate— 1,135 1,135 Effect of actual to expected experience— (4)(4)Adjusted balance— 1,131 1,131 Interest accrual—