Other
Policy liabilities
Apollo Global Management Policy liabilities increased by 3.4% to $326.5B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 19.4%, from $273.44B to $326.5B. Over 2 years (FY 2023 to FY 2025), Policy liabilities shows an upward trend with a 24.2% CAGR.
Analysis
StatementBalance Sheet Statement
SectionOther
CategoryLiquidity
SignalContext dependent
VolatilityModerate
First reportedQ4 2023
Last reportedQ1 2026May 7, 2026
How to read this metric
Increases reflect higher inflows of customer capital, while decreases may indicate withdrawals or shifts in product strategy.
Detailed definition
These are liabilities representing funds held on behalf of policyholders that are not yet recognized as insurance premiu...
Peer comparison
Common in firms offering annuity and wealth management products; peers report this to show the scale of customer assets under management.
Metric ID:
other_policyholder_contract_depositsHistorical Data
7 periods
| Q4 '23 | Q3 '24 | Q4 '24 | Q1 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|
| Value | $204.67B | $245.44B | $253.64B | $273.44B | $309.74B | $315.89B | $326.5B |
| QoQ Change | — | +19.9% | +3.3% | +7.8% | +13.3% | +2.0% | +3.4% |
| YoY Change | — | — | +23.9% | — | +26.2% | +24.5% | +19.4% |
Range$204.67B – $326.5B
CAGR+36.5%
Avg YoY Growth+23.5%
Median YoY Growth+24.2%
Current Streak6+ quarters growth
Product Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Traditional Deferred Annuities | — | — | $86.66B | — | — | $106.17B | $109.2B | $114.76B |
| Indexed Annuities | $95.83B | $96.77B | $97.86B | $99.43B | $101.32B | $103.66B | $105.32B | $106.34B |
| Funding Agreements | $41.29B | $50.4B | $54.77B | $63.82B | $75.23B | $83.61B | $85.56B | $90.74B |
| Other investment-type and other | — | — | $8.03B | — | — | $9.07B | $8.82B | $9.43B |
| Reconciling items | $7.39B | $7.57B | $6.32B | $5.18B | $6B | $7.23B | $7B | $5.24B |
| Total | — | $245.44B | $253.64B | $273.44B | — | $309.74B | $315.89B | $326.5B |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Retirement Services | $175.04B | $191.14B | $200.28B | $220.31B | $236.93B | $251.61B | $257.02B | $268.84B |
| Total | — | $245.44B | $253.64B | $273.44B | — | $309.74B | $315.89B | $326.5B |
Policy liabilities at Other Companies
Frequently Asked Questions
- What is Apollo Global Management's policy liabilities?
- Apollo Global Management (APO) reported policy liabilities of $326.5B in Q1 2026.
- How has Apollo Global Management's policy liabilities changed year-over-year?
- Apollo Global Management's policy liabilities increased by 19.4% year-over-year, from $273.44B to $326.5B.
- What is the long-term trend for Apollo Global Management's policy liabilities?
- Over 2 years (2023 to 2025), Apollo Global Management's policy liabilities has grown at a 24.2% compound annual growth rate (CAGR), from $204.67B to $315.89B.
- What does policy liabilities mean?
- Funds held by the company that belong to policyholders, often related to investment-linked insurance products.