Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 219

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 219
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 677 95 3,442 Foreign exchange— — (440)(6)(446)Other— — (692)(22)(714)Balance at December 31, 2022$43,518 $92,660 $27,439 $4,722 $168,339 Weighted average crediting rate3.2 %2.2 %2.5 %3.1 %Net amount at risk$422 $13,581 $— $47 Cash surrender value41,273 84,724 — 2,213 

211

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

The following is a reconciliation of interest sensitive contract liabilities to the consolidated statements of financial condition:December 31,(In millions)202420232022Traditional deferred annuities$86,661 $64,763 $43,518 Indexed annuities97,861 93,147 92,660 Funding agreements54,768 32,350 27,439 Other investment-type8,030 7,629 4,722 Reconciling items16,317 6,781 5,277 Interest sensitive contract liabilities$253,637 $204,670 $173,616 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.The following represents policyholder account balances by range of guaranteed minimum crediting rates, as well as the related range of the difference between rates being credited to policyholders and the respective guaranteed minimums:December 31, 2024(In millions)At Guaranteed Minimum1 Basis Point – 100 Basis Points Above Guaranteed MinimumGreater than 100 Basis Points Above Guaranteed MinimumTotal< 2.0%$26,818 $14,141 $134,121 $175,080 2.0% – < 4.0%24,356 1,529 2,067 27,952 4.0% – < 6.0%37,626 58 1 37,685 6.0% and greater6,603 — — 6,603 Total$95,403 $15,728 $136,189