Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 163

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 163
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64,763 $93,147 $32,350 $7,629 $197,889 Deposits13,436 8,823 14,511 708 37,478 Policy charges(1)(342)— — (343)Surrenders and withdrawals(2,511)(6,350)— (44)(8,905)Benefit payments(557)(845)(6,032)(113)(7,547)Interest credited1,466 1,400 703 100 3,669 Foreign exchange(357)(4)(180)(583)(1,124)Other— — (64)(50)(114)Balance at June 30, 2024$76,239 $95,829 $41,288 $7,647 $221,003 Weighted average crediting rate4.2 %2.5 %4.3 %2.7 %Net amount at risk$427 $15,185 $— $71 Cash surrender value71,380 87,449 — 6,404 The following is a reconciliation of interest sensitive contract liabilities to the condensed consolidated statements of financial condition:June 30,(In millions)20252024Traditional deferred annuities$100,836 $76,239 Indexed annuities101,322 95,829 Funding agreements75,228 41,288 Other investment-type8,856 7,647 Reconciling items15,996 7,386 Interest sensitive contract liabilities$292,238 $228,389 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.

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

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