Apollo Global Management Investor Day Presentation Deck
FAQ: Will Athene be Impacted by LDTI
Accounting Change Coming in 2023?
WHAT'S
HAPPENING?
Transition to a new
standard of accounting
for certain types of
liabilities that will
harmonize varied
underlying assumption
practices across
the industry
Note: LDTI stands for long duration targeted improvements.
APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022
WHAT DOES THIS
APPLY TO?
~20%
of Athene's liabilities
●
IS THERE A
NEGATIVE IMPACT?
No expected material
impact on retained
earnings or GAAP/SRE
earnings upon adoption
• Go forward impact
would be reflected in
GAAP net income and
could skew positively
●
●
WHY?
Athene has historically
used low discount rates
when putting on new
business and valuing
liabilities
Purchase Accounting
(PGAAP) exercise in
conjunction with Apollo
merger resulted in
reevaluation / mark to
market of entire
balance sheet
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