Apollo CEO Rowan warns of market correction, slams 'egregious' practices at rival insurers

Apollo CEO Marc Rowan warned that markets face an elevated risk of unexpected shocks and is positioning the firm defensively ahead of an anticipated correction, despite current strong economic conditions and Apollo reaching $1 trillion in assets under management. Rowan cited multiple destabilizing factors including geopolitical tensions, inflationary policies around trade and labor restrictions, and the AI-driven economic reshaping, estimating a 30-35% probability of an exogenous shock—far higher than typical risk levels. He also criticized rival insurers for what he called "egregious" practices, adding his concerns about external economic threats are greater than at any point in his four decades on Wall Street.