Non-Current Liabilities
Market risk benefits
Apollo Global Management 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 4 years (FY 2021 to FY 2025), Market risk benefits shows relatively stable performance with a 0.6% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementBalance Sheet Statement
SectionNon-Current Liabilities
CategoryRisk
SignalLower is better
VolatilityVolatile
First reportedQ4 2022
Last reportedQ1 2026
How to read this metric
An increase indicates higher exposure to market volatility and potential future payouts, often driven by declining market conditions.
Detailed definition
This liability represents the fair value of market risk benefits associated with certain insurance contracts, such as va...
Peer comparison
Common among insurers with significant variable annuity or investment-linked product portfolios.
Metric ID:
non_current_liabilities_market_risk_benefit_liability_amountHistorical Data
17 periods
| 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 | $4.81B | $3.86B | $3.16B | $2.79B | $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 | — | -19.9% | -18.0% | -11.8% | +6.4% | +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 | — | — | — | — | -38.3% | -17.0% | +1.0% | +8.2% | +26.3% | +16.2% | +16.7% | +45.7% | +7.4% | +17.2% | +20.4% | +9.8% | +22.4% |
Range$2.79B – $4.93B
CAGR+0.6%
Avg YoY Growth+10.5%
Median YoY Growth+16.2%
Current Streak4 quarters growth
Product Breakdown
| Segment | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Indexed annuities | $3.53B | $3.54B | $4.20B | $3.84B | $4.17B | $4.29B | $4.63B | $4.73B |
| Traditional Deferred Annuities | — | — | — | — | — | — | $204.00M | $205.00M |
| Total | $3.72B | $3.73B | $4.40B | $4.03B | $4.36B | $4.49B | $4.84B | $4.93B |
Business Segments
| Segment | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Retirement Services | $3.72B | $3.73B | $4.40B | $4.03B | $4.36B | $4.49B | $4.84B | $4.93B |
| Total | $3.72B | $3.73B | $4.40B | $4.03B | $4.36B | $4.49B | $4.84B | $4.93B |
Market risk benefits at Other Companies
Frequently Asked Questions
- What is Apollo Global Management's market risk benefits?
- Apollo Global Management (APO) reported market risk benefits of $4.93B in Q4 2025.
- How has Apollo Global Management's market risk benefits changed year-over-year?
- Apollo Global Management's 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 market risk benefits?
- Over 4 years (2021 to 2025), Apollo Global Management's market risk benefits has grown at a 0.6% compound annual growth rate (CAGR), from $4.81B to $4.93B.
- What does market risk benefits mean?
- The liability for guarantees provided to policyholders that are tied to financial market performance.