Corebridge Financial, Inc. (CRBG) recently launched its new retirement product, Corebridge MarketLock Annuity, through its American General Life Insurance subsidiary. This new product makes CRBG the only insurer among the top three companies to offer fixed annuities, variable annuities, index annuities and now registered index-linked annuities (RILA). MarketLock contains a unique accumulation strategy coupled with other popular RILA investment strategies in demand by finance professionals. This move bodes w ...

Richard Drury A Former AIG Spinoff & Diversified Financial Firm As we get past the middle of this trading week, and analysts keep an eye on the latest inflation figures, in today's article I'm revisiting a financial-sector stock I covered back in October 2023, Corebridge Financial, Inc. (NYSE:CRBG). In my original article I took a neutral stance and called it a hold, and since then, the share price has climbed +37% as of today's article writing. My neutral stance at the time was driven by concern over YoY d ...

Core Insights - Flourish has partnered with Corebridge Financial to enhance its annuities offerings for registered investment advisors (RIAs) [1][4] - The partnership introduces the American Pathway Advisory multi-year guaranteed annuity (MYGA) to the Flourish Annuities platform, providing RIAs with more options for guaranteed returns and principal protection [2][4] Partnership Details - The American Pathway Advisory MYGA allows consumers to lock in growth for three, five, or seven years, offering flexibility with innovative renewal options and no withdrawal charges [2][4] - This partnership aims to help RIAs maintain consistent allocations to guaranteed rates within client portfolios [2] Market Demand and Features - Since its launch in January 2024, Flourish Annuities has attracted interest from over 200 RIA firms, highlighting its operational efficiency and simplified processes [3] - Key features of the Flourish Annuities platform include an outsourced insurance desk, a digital application process, and a vetted marketplace of fee-based annuities [3] Industry Impact - The addition of Corebridge Financial expands the marketplace for RIAs, providing them with more MYGA options to enhance client portfolios [4] - Flourish supports over 800 RIAs managing more than $1.5 trillion in combined assets, indicating strong trust in its platform [4][6] Company Background - Flourish manages over $5 billion in assets under custody and is wholly owned by Massachusetts Mutual Life Insurance Company [6] - Corebridge Financial, with over $390 billion in assets under management and administration, is a leading provider of retirement solutions and insurance products in the U.S. [7]

NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Flourish, a platform that provides innovative access to financial products that help registered investment advisors ("RIAs") improve their clients' financial outcomes, today announced its partnership with Corebridge Financial, one of the largest providers of retirement solutions and insurance products in the United States. Through the partnership, the American Pathway Advisory multi-year guaranteed annuity (MYGA) that Corebridge launched earlier this year will be ...

Corebridge Financial, Inc. (NYSE:CRBG) Q2 2024 Results Conference Call August 1, 2024 10:00 AM ET Company Participants Isil Muderrisoglu - Head of Investor and Rating Agency Relations Kevin Hogan - President and Chief Executive Officer Elias Habayeb - Chief Financial Officer Conference Call Participants Elyse Greenspan - Wells Fargo Ryan Kruger - KBW John Barnidge - Piper Sandler Suneet Kamath - Jefferies Tom Gallagher - Evercore Wes Carmichael - Autonomous Research Joel Hurwitz - Dowling & Partners Mike Wa ...

Financial Performance - Total revenues for Q2 2024 were $3,710 million, a decrease of 35.5% compared to $5,757 million in Q2 2023[9]. - Net income attributable to Corebridge was $365 million in Q2 2024, down 52.7% from $771 million in Q2 2023[9]. - Comprehensive income attributable to Corebridge was a loss of $4 million in Q2 2024, compared to a loss of $344 million in Q2 2023[10]. - Net income for the six months ended June 30, 2024, was $1,168 million, compared to $298 million in 2023, representing a significant increase[13]. - Total adjusted revenues for Q2 2024 reached $4,176 million, a decrease from $5,757 million in Q2 2023, reflecting a decline of approximately 27.5%[28]. - Adjusted pre-tax operating income for Q2 2024 was $859 million, compared to $836 million in Q2 2023, representing a growth of 2.8%[28]. - The company reported a net (gain) on divestitures of $(241) million for Q2 2024, compared to $(59) million in Q2 2023, indicating a significant increase in losses[28]. Assets and Liabilities - Total assets increased to $382,492 million as of June 30, 2024, compared to $379,270 million at the end of 2023, reflecting a growth of approximately 0.58%[7]. - Total liabilities increased to $370,680 million in Q2 2024, compared to $366,635 million in Q4 2023, marking a rise of approximately 1.03%[8]. - Total liabilities measured at fair value amount to $16,372 million, with derivative liabilities totaling $184 million[31]. - Total assets measured at fair value on a recurring basis amount to $270,501 million as of June 30, 2024[31]. - Total bonds available-for-sale are valued at $167,320 million, with corporate debt contributing $101,245 million[31]. - Policyholder contract deposits increased to $20,103 million in the first half of 2024, compared to $15,920 million in the same period of 2023[13]. Investments and Earnings - Total investments increased to $236,054 million as of June 30, 2024, compared to $232,628 million at the end of 2023, reflecting a growth of approximately 1.8%[7]. - Net investment income for Q2 2024 was $2,988 million, an increase of 10.1% from $2,714 million in Q2 2023[9]. - Net investment income for the six months ended June 30, 2024, was $5,345 million, compared to $4,815 million for the same period in 2023, reflecting a growth of approximately 11%[29]. - Interest credited to policyholder account balances for Q2 2024 was $1,274 million, an increase from $1,078 million in Q2 2023, representing an increase of 18.2%[28]. Equity and Retained Earnings - Corebridge's retained earnings rose to $18,536 million in June 2024, up from $17,572 million at the end of 2023, representing an increase of about 5.5%[7]. - The total shareholders' equity at the end of the period was $11,812 million, down from $12,465 million at the end of June 30, 2023, indicating a decline of 5.2%[12]. - Corebridge's total equity attributable to shareholders decreased from $11,555 million at the beginning of the year to $10,996 million by June 30, 2024, a decline of 4.8%[12]. Market and Operational Strategy - The company has emphasized its focus on improving operational efficiency and enhancing its product offerings in the upcoming quarters[4]. - Corebridge is actively exploring market expansion opportunities and potential acquisitions to drive future growth[4]. - The company anticipates continued challenges from economic conditions and market volatility, which may impact future performance[4]. - The company is focused on managing risks associated with interest rates and credit spreads, which may impact future financial performance[4]. - The company faces significant competition and regulatory challenges, particularly related to technological changes and compliance costs, which may impact future performance[6]. Cash Flow and Dividends - Cash and cash equivalents increased to $637 million in Q2 2024 from $612 million in Q4 2023, reflecting a growth of approximately 4.09%[7]. - Dividends paid on common stock decreased to $282 million in the first half of 2024 from $700 million in the same period of 2023[13]. - Net cash provided by operating activities was $589 million, a decrease from $1,572 million in the prior year[13]. - The company reported a net cash used in investing activities of $3,964 million, compared to $890 million in the previous year[13]. Regulatory and Accounting Changes - The company is assessing the impact of new accounting standards related to income taxes and segment reporting, effective for public companies in 2024[21]. - Corebridge operates through five reportable segments: Individual Retirement, Group Retirement, Life Insurance, Institutional Markets, and Corporate and Other[22]. - Adjusted pre-tax operating income (APTOI) is evaluated by excluding certain items from income from operations before income tax, enhancing transparency to underlying economics[22].

Corebridge Financial (CRBG) came out with quarterly earnings of $1.13 per share, beating the Zacks Consensus Estimate of $1.10 per share. This compares to earnings of $1.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.73%. A quarter ago, it was expected that this financial services company would post earnings of $1.05 per share when it actually produced earnings of $1.10, delivering a surprise of 4.76%. Over the last fou ...

FOR IMMEDIATE RELEASE Corebridge Financial Announces Second Quarter 2024 Results • Net income of $365 million, or $0.59 per share 1 1 • Adjusted after-tax operating income of $692 million and operating EPS of $1.13 per share 1 • Premiums and deposits of $11.7 billion 2 2 2 2,3 • Aggregate core sources of income increased 5% over the prior year quarter with growth across base spread income, fee income and underwriting margin • Holding company liquidity of $1.9 billion • Returned $575 million to shareholders, ...

Zacks Rank & Price Performance Corebridge currently carries a Zacks Rank #3 (Hold). The stock has gained 59.9% in the year-to-date period compared with the industry's 22.2% growth. The Zacks Finance sector and the S&P 500 Composite have increased 21.3% and 27.8%, respectively, in the same time frame. Corebridge Financial, Inc. (CRBG) is supported by rising premiums attributable to a diversified product suite and new business growth. Rising fee income and investment income also bode well. Partnerships, stron ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41504 Corebridge Financial, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...