Apollo Global Management Investor Day Presentation Deck
Minimal Credit Losses Historically, and During Stress
15 bps
HISTORICAL CREDIT LOSSES1
12 bps
2020
9 bps
2021
INDUSTRY AVERAGE
2 bps
12 bps
ATHENE
7 bps
2017-2021 AVERAGE
CONSISTENTLY LOWER IMPAIRMENTS VS. INDUSTRY
●
ATHENE'S STRONG LIQUIDITY POSITION
Robust capital position includes $3.3B of excess
equity capital, $2.9B of untapped debt capacity,
$1.1B of on-demand sidecar capital
Strong available liquidity position of $69.1B²
comprised of a liquid bond portfolio, as well as
cash and other sources of liquidity
Even in a scenario where all of Athene's
investments are downgraded one NRSRO notch³
this would result in only a ~$0.6B increase to
required capital
Data as of March 31, 2022 unless specified otherwise.
1. Peer U.S. statutory impairments per SNL Financial, average includes AEL, AIG, AMP, BHF, EQH, FG, LNC, MET, PFG, PRU, VOYA and Transamerica. For Athene, U.S. statutory data adjusted to include impairments and assets in Bermuda. 2. Includes $55.8B liquid bond portfolio, $9.0B of GAAP cash and cash equivalents, including
VIES, $2.0B of committed repo, $1.25B revolver with $0.5B accordion feature, and $0.5B undrawn federal home loan bank capacity. 3. Athene's $23B of CMLs were assumed to have the same distribution as Athene's broader fixed income portfolio by NRSRO ratings within each NAIC rating,
APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022
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