Apollo Global Management Mergers and Acquisitions Presentation Deck
Retirement Services Capitalization Stands Out
Statutory Capital to Reserves¹
8.9%
AA-/A+ Rated
Company Average
11.9%
Athene
Adjusted Debt to Capital²
G
25.1%
AA-/A+ Rated
Company Average
12.7%
✓
Athene
Lower debt / capital
5 Year Average
13 bps
Credit Losses³
Industry
Average
8 bps
2020
13 bps
10 bps
Industry
Athene
Average
✓ Higher capital vs. reserves
✔ Lower impairments
1. Athene metrics are net of non-controlling interest in ACRA. AA-/A+ Rated Companies metrics as of September 30, 2020 per SNL Financial. AA-/A+ Rated Companies are: PFG (A+), PRU (AA-), MET (AA-) and GL (A+). 2.
Refers to adjusted debt-to-capital ratio as of December 2020. AA-/A+ Rated Companies metrics as of December 31, 2020. AA-/A+ Rated Companies are: PFG (A+), PRU (AA-), MET (AA-) and GL (A+). 3 Statutory impairments per
SNL Financial. Companies are AEL, AIG, AMP, BHF, EQH, FG, LNC, MET, PFG, PRU, VOYA and Transamerica. 2020 based on 9/30/2020 YTD (latest available per SNL Financial).
APOLLO
Athene
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