Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 221

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 221
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 22 22 Net premium collected— (190)(190)Foreign exchange— (111)(111)Ending balance at original discount rate— 852 852 Effect of changes in discount rate assumptions— 30 30 Effect of foreign exchange on the change in discount rate assumptions— (2)(2)Ending balance, present value of expected net premiums$— $880 $880 Present value of expected future policy benefitsBeginning balance$45,001 $3,371 $48,372 Effect of changes in discount rate assumptions6,233 (89)6,144 Effect of foreign exchange on the change in discount rate assumptions1 (6)(5)Beginning balance at original discount rate51,235 3,276 54,511 Effect of changes in cash flow assumptions(104)— (104)Effect of actual to expected experience78 (4)74 Adjusted balance51,209 3,272 54,481 Issuances1,115 — 1,115 Interest accrual1,802 69 1,871 Benefit payments(4,476)(85)(4,561)Foreign exchange(16)(340)(356)Ending balance at original discount rate49,634 2,916 52,550 Effect of changes in discount rate assumptions(7,378)(206)(7,584)Effect of foreign exchange on the change in discount rate assumptions5 1 6 Ending balance, present value of expected future policy benefits42,261 2,711 44,972 Less: Present value of expected net premiums— 880 880 Net future policy benefits$42,261 $1,831 $44,092 Weighted-average liability duration (in years)9.430.7Weighted-average interest accretion rate3.7 %4.8 %Weighted-average current discount rate5.6 %4.8 %Expected future gross premiums, undiscounted$— $1,107 Expected future gross premiums, discounted1— 929 Expected future benefit payments, undiscounted72,793 10,618 1 Discounted at the original discount rate.

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

Year ended December 31, 2023(In millions, except percentages and years)Payout Annuities with Life Contingencies