Apollo Global Management Deferred acquisition costs, deferred sales inducements and value of business acquired increased by 3.2% to $8.63B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 20.4%, from $7.17B to $8.63B. Over 4 years (FY 2021 to FY 2025), Deferred acquisition costs, deferred sales inducements and value of business acquired shows an upward trend with a 17.4% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Higher values indicate significant new business growth, while a rapid decline may signal lower sales volume or accelerated amortization due to policy lapses.
This metric aggregates costs directly related to the acquisition of new insurance business, such as commissions and unde...
Standard metric for life insurance and annuity providers; peers vary based on their specific product mix and sales distribution channels.
other_deferred_policy_acquisition_costs_deferred_sales_i_0a7eb3| Q4 '21 | 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 | $4.55B | $4.71B | $4.89B | $5.19B | $5.58B | $4.84B | $5.17B | $5.45B | $5.98B | $6.41B | $6.70B | $6.97B | $7.17B | $7.61B | $7.98B | $8.37B | $8.63B |
| QoQ Change | — | +3.7% | +3.8% | +6.2% | +7.4% | -13.3% | +6.8% | +5.5% | +9.7% | +7.2% | +4.5% | +4.1% | +2.9% | +6.0% | +4.9% | +4.9% | +3.2% |
| YoY Change | — | — | — | — | +22.6% | +2.6% | +5.6% | +5.0% | +7.2% | +32.5% | +29.7% | +28.0% | +20.0% | +18.7% | +19.1% | +20.1% | +20.4% |
| Segment | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Retirement Services | $6.41B | $6.70B | $6.97B | $7.17B | $7.61B | $7.98B | $8.37B | $8.63B |
| Total | $6.41B | $6.70B | $6.97B | $7.17B | $7.61B | $7.98B | $8.37B | $8.63B |