Apollo Global Management Investor Day Presentation Deck
U.S. Pension Group Annuity Market is Only Just Reaching Scale
2021 was a record year for U.S. pension group annuities, with 8 individual transactions of more than $1 billion coming to market
Large and growing opportunity given annual market volume transacted represents only 3% of estimated addressable market
• In addition, the U.K. pension group annuity market is larger than the U.S. market and presents incremental future opportunity
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$ IN BILLIONS
$3.8
2013
U.S. PENSION GROUP ANNUITY VOLUME TRANSACTED
$8.6
2014
$13.7
2015
$13.7
2016
$23.1
2017
$27.3
2018
$29.9
2019
$26.9
2020
$38.1
2021
$1.5
TRILLION
COMBINED AUM OF
U.S. DEFINED BENEFIT
PENSION PLANS
FOR FORMER,
RETIRED EMPLOYEES ¹
1. 2021 year-end private-sector defined benefit liabilities per US Federal Reserve, assuming 20% of plans are active and used for employee attraction/retention, and that 50% of the remainder back current retirees and determine the market for pension group annuities.
APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022
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