Apollo’s Insurance Unit Is FHLB System’s Third-Biggest Borrower

Apollo Global Management Inc.’s insurance arm was the third-largest borrower at the end of March in the Federal Home Loan Bank system, further increasing its holdings since the end of last year.

Athene Holding Ltd. owed $28.2 billion in loans, known as principal advances, to the FHLB as of March 31, according to data from the FHLB’s office of finance. That’s up from the end of 2025, when Athene was the second-biggest borrower in the system with a balance of $23.3 billion.