AI English summary of an SEC filing — figures as filed
Apollo Global Management APOThe company said Retirement Services revenues for Q2 2024 (3 months) fell to $5.0 billion from $12.9 billion in the same period of 2023. It said premiums declined $8.4 billion to $673 million, and pension group annuity premiums fell $8.4 billion.
Key points
AI summaryThe company said Retirement Services revenues for Q2 2024 (3 months) fell to $5.0 billion from $12.9 billion in the same period of 2023. It said premiums declined $8.4 billion to $673 million, and pension group annuity premiums fell $8.4 billion.
Asset Management revenues for Q2 2024 rose to $1,054 million from $786 million in the same period of 2023, the company said. Investment income increased $140 million to $278 million, which it attributed to a rise in performance allocations of $162 million that was partially offset by a decrease in principal investment income of $22 million.
The company said Retirement Services net investment income for Q2 2024 rose $856 million to $3.8 billion. It cited significant growth in Athene's investment portfolio, higher rates on new deployment and higher floating rate income as factors.
The company said it had unrestricted cash and cash equivalents of $15.9 billion as of June 30, 2024, together with $4.9 billion of available funds under the AMH credit facility, AHL credit facility and AHL liquidity facility.
Key figures
Quarter ended June 30, 2024
- Revenue
- $6.0B
- Net income
- $853M
- EPS
- $1.35
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Retirement Services Q2 revenue and pension group annuity premiums decline
The company said Retirement Services revenues for Q2 2024 (3 months) fell to $5.0 billion from $12.9 billion in the same period of 2023. It said premiums declined $8.4 billion to $673 million, and pension group annuity premiums fell $8.4 billion.
Source · Based on the MD&A text of the filing
Asset Management Q2 revenue and performance allocations rise
Asset Management revenues for Q2 2024 rose to $1,054 million from $786 million in the same period of 2023, the company said. Investment income increased $140 million to $278 million, which it attributed to a rise in performance allocations of $162 million that was partially offset by a decrease in principal investment income of $22 million.
Source · Based on the MD&A text of the filing
Retirement Services quarterly net investment income rises
The company said Retirement Services net investment income for Q2 2024 rose $856 million to $3.8 billion. It cited significant growth in Athene's investment portfolio, higher rates on new deployment and higher floating rate income as factors.
Source · Based on the MD&A text of the filing
Liquidity: unrestricted cash and available funds as of June 30, 2024
The company said it had unrestricted cash and cash equivalents of $15.9 billion as of June 30, 2024, together with $4.9 billion of available funds under the AMH credit facility, AHL credit facility and AHL liquidity facility.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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