Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 226

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 226
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-specific credit risk194 3,171 3,365 Issuances— 295 295 Interest accrual10 191 201 Attributed fees collected2 358 360 Benefit payments(4)(52)(56)Effect of changes in interest rates(18)(640)(658)Effect of changes in equity— (94)(94)Effect of actual policyholder behavior compared to expected behavior6 73 79 Effect of changes in future expected policyholder behavior(3)88 85 Effect of changes in other future expected assumptions— (19)(19)Balance, end of period, before changes in instrument-specific credit risk187 3,371 3,558 Effect of changes in instrument-specific credit risk3 154 157 Balance at December 31, 2024190 3,525 3,715 Less: Reinsurance recoverable— 37 37 Balance at December 31, 2024, net of reinsurance$190 $3,488 $3,678 Net amount at risk$425 $15,441 Weighted-average attained age of contract holders (in years)7669Year ended December 31, 2023(In millions, except years)Traditional Deferred AnnuitiesIndexed AnnuitiesTotalBalance at December 31, 2022$170 $2,319 $2,489 Effect of changes in instrument-specific credit risk13 353 366 Balance, beginning of period, before changes in instrument-specific credit risk183 2,672 2,855 Issuances— 106 106 Interest accrual10 147 157 Attributed fees collected2 336 338 Benefit payments(2)(32)(34)Effect of changes in interest rates(1)(90)(91)Effect of changes in equity— (119)(119)Effect of actual policyholder behavior compared to expected behavior5 67 72 Effect of changes in future expected policyholder behavior(3)78 75 Effect of changes in other future expected assumptions— 6 6 Balance, end of period, before changes in instrument-specific credit risk194 3,171 3,365 Effect of changes in instrument-specific credit risk(2)10 8 Balance at December 31, 2023$192 $3,181 $3,373 Net amount at risk$425 $14,716 Weighted-average