Apollo (APO) countered criticism of the close ties between its asset management arm and in-house insurer in an investor filing aimed against its main rivals, Lee Harris of The Financial Times reports. In a presentation published by Apollo’s in-house insurer Athene, the company showed 12% of its assets were “related party” ones, compared to 22% for KKR‘s (KKR) Global Atlantic, 30% for Brookfield’s (BN) American National Insurance, 35% for Blackstone’s (BX) Everlake, and 43% for Security Benefit Life, the insurer owned by Todd Boehly’s holding company.
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