Retirement Services — Market risk benefits
Apollo Global Management Retirement Services — Market risk benefits increased by 2.0% to $4.93B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 22.4%, from $4.03B to $4.93B. Over 2 years (FY 2023 to FY 2025), Retirement Services — Market risk benefits shows an upward trend with a 18.9% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
A gain indicates a reduction in the liability value due to market movements, while a loss indicates an increase in the cost of providing these guarantees.
Detailed definition
Reflects the fair value adjustment of guarantees provided to policyholders that protect against market volatility, such...
Peer comparison
Common in insurance companies with variable annuity products; peers report this under fair value accounting standards.
apo_segment_retirement_services_market_risk_benefitsHistorical Data
| 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 | $2.97B | $3.20B | $3.20B | $3.02B | $3.75B | $3.72B | $3.73B | $4.40B | $4.03B | $4.36B | $4.49B | $4.84B | $4.93B |
| QoQ Change | — | +7.8% | -0.2% | -5.4% | +24.2% | -0.7% | +0.1% | +18.1% | -8.5% | +8.3% | +2.9% | +7.7% | +2.0% |
| YoY Change | — | — | — | — | +26.3% | +16.2% | +16.7% | +45.7% | +7.4% | +17.2% | +20.4% | +9.8% | +22.4% |
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Frequently Asked Questions
- What is Apollo Global Management's retirement services — market risk benefits?
- Apollo Global Management (APO) reported retirement services — market risk benefits of $4.93B in Q4 2025.
- How has Apollo Global Management's retirement services — market risk benefits changed year-over-year?
- Apollo Global Management's retirement services — market risk benefits increased by 22.4% year-over-year, from $4.03B to $4.93B.
- What is the long-term trend for Apollo Global Management's retirement services — market risk benefits?
- Over 2 years (2023 to 2025), Apollo Global Management's retirement services — market risk benefits has grown at a 18.9% compound annual growth rate (CAGR), from $13.17B to $18.62B.
- What does retirement services — market risk benefits mean?
- The change in value of financial guarantees provided to policyholders against market downturns.