Apollo Global Management Investor Day Presentation Deck
Minimal Credit Losses Historically and During COVID-19
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DISCIPLINED RISK APPETITE
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Risk appetite is to avoid a credit rating
downgrade in a typical "recession" scenario, and
maintain an investment grade credit rating in a
"deep recession" scenario like 2008/2009
• Risk management is deeply embedded in all
business decisions and processes
The enterprise risk appetite is established using
stress testing and is cascaded to the business
through risk limits
Constant communication with rating agencies
and reinsurance counterparties
HISTORICAL CREDIT LOSSES¹
12 bps
LOWER IMPAIRMENTS
9 bps
5 YEAR AVERAGE
Industry Average
15 bps
12 bps
2020 (COVID)
Athene
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. Linked presentations are not incorporated by reference.
APOLLO INVESTOR DAY 2021
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