{
  "docId": "019de072-e902-70b8-a16a-0f84fee19216",
  "docSlug": "f04de484c34330d992151396cf2a5e03",
  "documentTitle": "Apollo Global Management | Investor Day Presentation Deck | 157 slides",
  "authorId": "apollo-global-management",
  "authorName": "Apollo",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 74,
  "pageCount": 120,
  "prevPage": 73,
  "nextPage": 75,
  "slideType": "comparison_table",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 8,
  "notes": "The chart highlights 'IG CORPS' with a red box, emphasizing the comparison between corporate and structured credit losses.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de072-e902-70b8-a16a-0f84fee19216/74",
  "deckHref": "/decks/019de072-e902-70b8-a16a-0f84fee19216",
  "deckJsonHref": "/decks/019de072-e902-70b8-a16a-0f84fee19216.json",
  "deckAnchorHref": "/decks/019de072-e902-70b8-a16a-0f84fee19216#slide-74",
  "components": [
    {
      "bbox": {
        "h": 0.6,
        "w": 0.6,
        "x": 0.35,
        "y": 0.2
      },
      "kind": "chart",
      "text": "Bar chart showing loss percentages: High Yield & Bank Loans (14.7%), IG Corps (7.0%), CMBS (4.2%), Non-Agency RMBS (3.8%), CML (1.5%), SOV/MUNI (1.4%), ABS (0.3%), CLO (0.2%)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "497cfc72-bfa4-4e9b-b33b-9700f347bcdd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.95,
        "x": 0.03,
        "y": 0.92
      },
      "kind": "disclaimer",
      "text": "BlackRock risk analysis on Life Insurance Industry holdings as of December 31, 2020. The Severely Adverse macro-economic scenario is defined to align with the Federal Reserve's 2020 supervisory scenarios that the Board will use in its bank holding company stress tests (i.e., Comprehensive Capital Analysis and Review \"CCAR\"). Loss is expressed as percentage of public fixed income for which discounted cash flows were generated Sources: Q12020 GDP U.S. Bureau of Economic Analysis, Apr 2020 Unemployment and Apr 2020 CPI – U.S. Bureau of Labor Statistics (series LNS14000000, CUSR0000SA0).",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2f58c66-f4a4-4823-a276-7f6b281411a6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.28,
        "x": 0.05,
        "y": 0.22
      },
      "kind": "paragraph",
      "text": "BlackRock ran aggregate assets of U.S. life insurers from statutory filings through the Fed's CCAR stress test used for the banking industry and found that the industry's investment-grade corporates had a higher expected loss than structured credit",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "546e0113-9c8d-4d09-8101-5fe13d625889",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.85,
        "x": 0.03,
        "y": 0.05
      },
      "kind": "title",
      "text": "Losses on Corporates held by U.S. Life Insurers Exceed Losses of Structured Credit Holdings Under Fed's Stress Scenario",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ce9babe4-318d-443b-8c4b-3b84be4e4ddf",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}