Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 285

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 285
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 852 Effect of actual to expected experience— (1)(1)Adjusted balance— 851 851 Interest accrual— 10 10 Net premium collected— (92)(92)Foreign exchange— 76 76 Ending balance at original discount rate— 845 845 Effect of changes in discount rate assumptions— 23 23 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(64)2 (62)Adjusted balance49,570 2,918 52,488 Issuances133 — 133 Interest accrual879 35 914 Benefit payments(2,238)(49)(2,287)Foreign exchange75 270 345 Ending balance at original discount rate48,419 3,174 51,593 Effect of changes in discount rate assumptions(6,465)(553)(7,018)Effect of foreign exchange on the change in discount rate assumptions(28)(24)(52)Ending balance, present value of expected future policy benefits41,926 2,597 44,523 Less: Present value of expected net premiums— 868 868 Net future policy benefits$41,926 $1,729 $43,655 Weighted-average liability duration (in years)9.429.4Weighted-average interest accretion rate3.7 %4.8 %Weighted-average current discount rate5.3 %5.1 %Expected future gross premiums, undiscounted$— $1,064 Expected future gross premiums, discounted1— 919 Expected future benefit payments, undiscounted70,754 10,085 1 Discounted at the original discount rate.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Six months ended June 30, 2024(In millions, except percentages and years)Payout Annuities with Life ContingenciesWhole LifeTotalPresent