70/ 100
Capital adequacy — cross-regime normalized
Adequate
Reported under US RBC — normalized to a common 0–100 band so US, Canadian and European insurers compare like-for-like. Open methodology; see sourcing below.
Capital & Solvency
| Capital adequacy (normalized) | Adequate (70/100) |
| RBC ratio | 400% |
| Statutory surplus | $12.0B |
| Total adjusted capital | $15.8B |
| Prism ratio (avail/target) | 2.72x |
| Regulatory action level | none |
Curated from public statutory filings (point-in-time). Live refresh pending.
Financial Strength Ratings
| AM BEST | A | Stable |
| SP | BBB+ | Stable |
| MOODYS | Baa1 | Stable |
| FITCH | A+ | Stable |
| Composite | AA | 73/100 |
Curated public rating actions, late-2024/2025.
Reinsurance & capital structurehow reserve risk is financed
Apollo Global Mgmt. discloses 11 affiliated reinsurance captives (Bermuda, Iowa, Delaware); it also cedes externally to Catalina Re, Protective Life Insurance Company, Total Reinsurance Recoverable. Its capital adequacy is Adequate (70/100, RBC 400%). Affiliated captives are a common reserve-financing tool (e.g. XXX/AXXX term- and universal-life reserves); read capital strength alongside how much reserve risk is financed through these vehicles.
Affiliated reinsurance captives
11
Bermuda · 9Iowa · 1Delaware · 1
Cedes externally to
Catalina ReProtective Life Insurance CompanyTotal Reinsurance Recoverable
Affiliated captives from the Exhibit 21 entity list; external cedants from the firm's counterparty map; capital from public statutory/regulatory filings. Indicative.