Business Segments · Funds withheld at interest – embedded derivative
Retirement Services — Funds withheld at interest – embedded derivative
Apollo Global Management Retirement Services — Funds withheld at interest – embedded derivative increased by 2.6% to -$2.41B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 20.6%, from -$3.04B to -$2.41B. Over 3 years (FY 2022 to FY 2025), Retirement Services — Funds withheld at interest – embedded derivative shows a downward trend with a -55.6% CAGR.
Analysis
StatementSegment
CategoryRisk
SignalContext dependent
VolatilityVolatile
First reportedQ1 2022
Last reportedQ4 2025
How to read this metric
Changes in value reflect market movements affecting the underlying assets or liabilities of the reinsurance arrangement.
Detailed definition
The fair value of embedded derivatives associated with reinsurance agreements where funds are withheld by the ceding com...
Peer comparison
Specific to insurance companies engaged in complex reinsurance and 'funds withheld' structures.
Metric ID:
apo_segment_retirement_services_funds_withheld_at_interest_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 | $43.06B | $41.60B | $39.97B | -$4.85B | $35.38B | $32.20B | -$4.98B | -$3.38B | -$3.36B | -$3.28B | -$2.58B | -$3.04B | -$2.85B | -$2.74B | -$2.47B | -$2.41B |
| QoQ Change | — | -3.4% | -3.9% | -112.1% | +829.8% | -9.0% | -115.5% | +32.2% | +0.5% | +2.3% | +21.4% | -17.6% | +6.2% | +3.7% | +9.8% | +2.6% |
| YoY Change | — | — | — | — | -17.8% | -22.6% | -112.5% | +30.3% | -109.5% | -110.2% | +48.2% | +10.2% | +15.3% | +16.4% | +4.2% | +20.6% |
Range-$4.98B – $43.06B
CAGR-53.6%
Avg YoY Growth-18.9%
Median YoY Growth+7.2%
Current Streak4 quarters growth
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Frequently Asked Questions
- What is Apollo Global Management's retirement services — funds withheld at interest – embedded derivative?
- Apollo Global Management (APO) reported retirement services — funds withheld at interest – embedded derivative of -$2.41B in Q4 2025.
- How has Apollo Global Management's retirement services — funds withheld at interest – embedded derivative changed year-over-year?
- Apollo Global Management's retirement services — funds withheld at interest – embedded derivative increased by 20.6% year-over-year, from -$3.04B to -$2.41B.
- What is the long-term trend for Apollo Global Management's retirement services — funds withheld at interest – embedded derivative?
- Over 3 years (2022 to 2025), Apollo Global Management's retirement services — funds withheld at interest – embedded derivative has grown at a -55.6% compound annual growth rate (CAGR), from $119.77B to -$10.47B.
- What does retirement services — funds withheld at interest – embedded derivative mean?
- The value of complex financial features within reinsurance agreements where funds are held back.