Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 124

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 124
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 (47)(47)Foreign exchange— 40 40 Ending balance at original discount rate— 849 849 Effect of changes in discount rate assumptions— 20 20 Effect of foreign exchange on the change in discount rate assumptions— (1)(1)Ending balance, present value of expected net premiums$— $868 $868 Present value of expected future policy benefitsBeginning balance$42,261 $2,711 $44,972 Effect of changes in discount rate assumptions7,378 206 7,584 Effect of foreign exchange on the change in discount rate assumptions(5)(1)(6)Beginning balance at original discount rate49,634 2,916 52,550 Effect of actual to expected experience(42)2 (40)Adjusted balance49,592 2,918 52,510 Issuances75 — 75 Interest accrual442 17 459 Benefit payments(1,132)(22)(1,154)Foreign exchange25 143 168 Ending balance at original discount rate49,002 3,056 52,058 Effect of changes in discount rate assumptions(6,778)(288)(7,066)Effect of foreign exchange on the change in discount rate assumptions(6)(10)(16)Ending balance, present value of expected future policy benefits42,218 2,758 44,976 Less: Present value of expected net premiums— 868 868 Net future policy benefits$42,218 $1,890 $44,108 Weighted-average liability duration (in years)9.430.0Weighted-average interest accretion rate3.7 %4.8 %Weighted-average current discount rate5.4 %4.7 %Expected future gross premiums, undiscounted$— $1,073 Expected future gross premiums, discounted1— 927 Expected future benefit payments, undiscounted71,699 10,126 1 Discounted at the original discount rate.

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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 percentages and years)Payout Annuities with Life ContingenciesWhole LifeTotalPresent value of expected net premiumsBeginning balance$— $1,182 $1,182