Apollo Global Management Investor Presentation Deck
The Majority of Athene's Liabilities Are Not Susceptible
to Significant Short-Term Outflows
Less than 10% of Athene's reserves represent retail policyholders facing Athene directly that are not protected by surrender charges
100%
Reserve Liabilities
27%
Comprised of 17
insurers with an
average S&P financial
strength rating of A+
31%
Non-Surrenderable ¹
Note: As of December 31, 2022 includes all reserves. Including 100% of ACRA.
1) Policyholders do not have rights to withdraw policy. 2) Calculation based on net reserve liabilities as of December 31, 2022.
33%
From External Cedants
Policyholders face
Surrenderable with Charge
and/or Market Value
Adjustment
another insurer
Athene's Liabilities Carry a Weighted Average Life of ~9 Years²
9%
APOLLO
Remaining Reserves
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