Business Segments · Closed block liabilities
Retirement Services — Closed block liabilities
Apollo Global Management Retirement Services — Closed block liabilities decreased by 1.5% to $1.09B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 1.5%, from $1.10B to $1.09B. Over 3 years (FY 2022 to FY 2025), Retirement Services — Closed block liabilities shows a downward trend with a -3.9% CAGR.
Analysis
StatementSegment
CategoryRisk
SignalContext dependent
VolatilityStable
First reportedQ1 2022
Last reportedQ4 2025
How to read this metric
An increase may indicate a larger legacy portfolio, while a decrease suggests successful runoff or settlement of older obligations.
Detailed definition
Represents the total financial obligations associated with insurance policies or annuity contracts that are no longer be...
Peer comparison
Commonly reported by life insurance and annuity providers as legacy or runoff insurance liabilities.
Metric ID:
apo_segment_retirement_services_closed_block_liabilitiesHistorical Data
16 periods
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.38B | $1.25B | $1.16B | $1.16B | $1.19B | $1.16B | $1.10B | $1.18B | $1.15B | $1.12B | $1.17B | $1.10B | $1.11B | $1.10B | $1.10B | $1.09B |
| QoQ Change | — | -9.5% | -7.2% | +0.6% | +2.2% | -2.6% | -5.1% | +7.1% | -2.3% | -2.7% | +4.1% | -5.5% | +0.5% | -0.9% | +0.5% | -1.5% |
| YoY Change | — | — | — | — | -13.6% | -7.1% | -4.9% | +1.2% | -3.3% | -3.4% | +6.0% | -6.5% | -3.8% | -2.1% | -5.5% | -1.5% |
Range$1.09B – $1.38B
CAGR-6.2%
Avg YoY Growth-3.7%
Median YoY Growth-3.6%
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Frequently Asked Questions
- What is Apollo Global Management's retirement services — closed block liabilities?
- Apollo Global Management (APO) reported retirement services — closed block liabilities of $1.09B in Q4 2025.
- How has Apollo Global Management's retirement services — closed block liabilities changed year-over-year?
- Apollo Global Management's retirement services — closed block liabilities decreased by 1.5% year-over-year, from $1.10B to $1.09B.
- What is the long-term trend for Apollo Global Management's retirement services — closed block liabilities?
- Over 3 years (2022 to 2025), Apollo Global Management's retirement services — closed block liabilities has grown at a -3.9% compound annual growth rate (CAGR), from $4.95B to $4.39B.
- What does retirement services — closed block liabilities mean?
- The total value of future payout obligations for insurance policies that are no longer sold to new customers.