Apollo Global Management Investor Day Presentation Deck
Flow Reinsurance
BUSINESS HIGHLIGHTS
Ongoing priority to diversify counterparty relationships across
geographies and product areas
During 2020, built a reputation of strength in the market as a
partner of choice, supporting counterparties when others chose
to conserve capital
Recent expansion into Japanese market with two key partnerships
HOW DOES FLOW REINSURANCE WORK?
1
RETAIL
ANNUITY
ISSUANCE
OF CLIENT
2
4
Reinsured to Athene,
Policy administration
stays with the issuer
Athene passes along
inherent benefits of its
model (asset management,
structure, capital strength)
APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022
3
ATHENE
MANAGES
LIABILITY
AND COLLECTS
SPREAD
EARNINGS
FLOW REINSURANCE INFLOWS (SB)
ā
$0.4
ā
$1.1
$3.5
$0.9
$2.4
$4.0
$6.0
$2.6
KEY DRIVERS
Demand for capital efficiency / risk management from
other annuity issuers
2014 2015 2016 2017 2018 2019 2020 2021 1Q'22
$1.0
Changes in market pricing conditions and counterparty
behavior can cause fluctuations
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