Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 227

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 227
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 attained age of contract holders (in years)7569

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

Year ended December 31, 2022(In millions, except years)Traditional Deferred AnnuitiesIndexed AnnuitiesTotalBalance at January 1, 2022$253 $4,194 $4,447 Issuances— 60 60 Interest accrual4 52 56 Attributed fees collected3 330 333 Benefit payments(4)(49)(53)Effect of changes in interest rates(77)(2,092)(2,169)Effect of changes in equity— 176 176 Effect of actual policyholder behavior compared to expected behavior6 42 48 Effect of changes in other future expected assumptions(2)(41)(43)Balance, end of period, before changes in instrument-specific credit risk183 2,672 2,855 Effect of changes in instrument-specific credit risk(13)(353)(366)Balance at December 31, 2022$170 $2,319 $2,489 Net amount at risk$422 $13,581 Weighted-average attained age of contract holders (in years)7468The following is a reconciliation of market risk benefits to the consolidated statements of financial condition. Market risk benefit assets are included in other assets on the consolidated statements of financial condition.December 31, 2024(In millions)AssetLiabilityNet LiabilityTraditional deferred annuities$— $190 $190 Indexed annuities313 3,838 3,525 Total$313 $4,028 $3,715 December 31, 2023(In millions)AssetLiabilityNet LiabilityTraditional deferred annuities$— $192 $192 Indexed annuities378 3,559 3,181 Total$378 $3,751 $3,373 December 31, 2022(In millions)AssetLiabilityNet LiabilityTraditional deferred annuities$— $170 170 Indexed annuities481 2,800 2,319 Total$481 $2,970 $2,489 During the year ended December 31, 2024, net market risk benefit liabilities increased by $342 million, which was primarily driven by $360 million in fees collected from policyholders, issuances of $