Business Segments · Embedded derivative
Retirement Services — Embedded derivative
Apollo Global Management Retirement Services — Embedded derivative increased by 3.1% to $14.75B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 31.2%, from $11.24B to $14.75B. Over 3 years (FY 2022 to FY 2025), Retirement Services — Embedded derivative shows an upward trend with a 31.3% CAGR.
Analysis
StatementSegment
CategoryRisk
SignalContext dependent
VolatilityVolatile
First reportedQ1 2022
Last reportedQ4 2025
Rolls up toDerivative Liabilities - Fair Value
How to read this metric
Significant changes in value indicate shifts in market variables like interest rates or equity indices that impact the embedded derivative's valuation.
Detailed definition
The fair value of derivative instruments that are implicitly included within insurance contracts or other financial inst...
Peer comparison
Common in life insurance and annuity products with variable or indexed features.
Metric ID:
apo_segment_retirement_services_embedded_derivativeHistorical 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 | $6.70B | $5.45B | $5.00B | $5.84B | $6.75B | $8.20B | $7.35B | $9.06B | $10.91B | $11.23B | $12.00B | $11.24B | $10.75B | $12.28B | $14.30B | $14.75B |
| QoQ Change | — | -18.7% | -8.3% | +16.9% | +15.5% | +21.5% | -10.4% | +23.3% | +20.4% | +3.0% | +6.8% | -6.3% | -4.4% | +14.2% | +16.5% | +3.1% |
| YoY Change | — | — | — | — | +0.6% | +50.4% | +47.0% | +55.1% | +61.7% | +37.0% | +63.3% | +24.1% | -1.5% | +9.3% | +19.2% | +31.2% |
Range$5.00B – $14.75B
CAGR+23.4%
Avg YoY Growth+33.1%
Median YoY Growth+34.1%
Current Streak3 quarters growth
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Frequently Asked Questions
- What is Apollo Global Management's retirement services — embedded derivative?
- Apollo Global Management (APO) reported retirement services — embedded derivative of $14.75B in Q4 2025.
- How has Apollo Global Management's retirement services — embedded derivative changed year-over-year?
- Apollo Global Management's retirement services — embedded derivative increased by 31.2% year-over-year, from $11.24B to $14.75B.
- What is the long-term trend for Apollo Global Management's retirement services — embedded derivative?
- Over 3 years (2022 to 2025), Apollo Global Management's retirement services — embedded derivative has grown at a 31.3% compound annual growth rate (CAGR), from $22.99B to $52.07B.
- What does retirement services — embedded derivative mean?
- The value of derivative features hidden within insurance or financial contracts.