Crisis-era CDO protection keeps on giving for Athene

Financial-statement and magnifying glass

- By Ben St. Clair
- 28 Jan 2026

Buried within a 4,500-page financial statement for an Apollo-owned insurance company lies a 20-year relic of the global financial crisis. But unlike the toxic assets that crippled the banking system two decades ago, this position has proved profitable, paying out nearly $9,000 a quarter in recent years.

Through an Iowa-based life insurer, Apollo’s Athene holds a sold $10 million notional credit

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