Summary
Apollo Global Management, Inc. (AGM), through its subsidiary Athene Holding Ltd. (AHL), has released a historical financial supplement that has been recast to reflect the adoption of the new US GAAP accounting standard for Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). This update impacts the accounting and disclosures for long-duration insurance and investment contracts, which are key components of Athene's business. Investors should note that this information is being furnished under Regulation FD and is not being formally filed, meaning it is not subject to the same liability provisions as a standard filing. The primary takeaway for investors is the company's proactive approach to adopting new accounting standards. While this filing does not contain new financial performance data, it signals a commitment to transparency and adherence to updated accounting principles. Investors interested in the specific financial impacts of the LDTI adoption on Athene's historical performance should refer to the supplement made available on AHL's website.
Key Highlights
- 1Athene Holding Ltd. (AHL), a subsidiary of Apollo Global Management, Inc. (AGM), has updated its historical financial supplement.
- 2The recast financial supplement reflects the adoption of the US GAAP accounting standard for Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI).
- 3The LDTI standard impacts accounting and disclosures for long-duration insurance and investment contracts.
- 4This information was made available on AHL's website.
- 5The filing is made under Regulation FD Disclosure, indicating the information is being furnished, not formally filed.
- 6The Chief Financial Officer, Martin Kelly, signed the report.