Apollo Global Management Investor Day Presentation Deck
Athene Generates Significant Capital to Fund Growth
ATHENE IS TODAY, AND HAS ALWAYS BEEN, MASSIVELY CAPITAL GENERATIVE
-$2.1B
-$0.8B
$3.3B
$2.9B
$1.1B
Capital Generated from Earnings¹
(~70-80% of Spread Related Earnings on average)
Capital Release from
normal-course run-off 1
+
Excess Equity Capital²
Untapped Debt Capacity²
Available Capital from Sidecar (ADIP)²
CAPITAL UTILIZATION
ORGANIC GROWTH
SUPPORT RATINGS UPGRADES³
A+
S&P
INORGANIC GROWTH
A+
FITCH
A
AM BEST
1. Capital generated from earnings approximate statutory earnings, based on illustrative 2022 estimates. Capital Release from normal-course run-off, based on illustrative 2022 estimates: Approximate Capital Relief on decremented reserves under Athene's monitored capital models. Includes return on holding company
assets (excluding realized gains and losses) less interest and financing costs. 2. Excess Equity Capital / Untapped Debt Capacity / Available Capital from Sidecar (ADIP) - as of March 31, 2022. 3. Ratings represent financial strength ratings for primary insurance subsidiaries.
APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022
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