NYSE:CRBG

Corebridge Financial Announces First Quarter 2024 Results

Retrieved on: 
Friday, May 3, 2024
Professional Services, Insurance, Finance, Sale, Laya Healthcare, Life insurance, Growth

Net income was $878 million compared to a net loss of $459 million in the prior year quarter.

Key Points: 
  • Net income was $878 million compared to a net loss of $459 million in the prior year quarter.
  • The change largely was driven by realized losses in the first quarter of 2023 for the Fortitude Re funds withheld embedded derivative and higher net investment income in the first quarter of 2024.
  • Adjusted pre-tax operating income ("APTOI") was $837 million, a 16% increase over the prior year quarter.
  • This improvement was due to higher base portfolio income, which grew $396 million, or 18%, over the prior year quarter.

Gen Z Beginning Financial Planning Earlier Than Previous Generations

Retrieved on: 
Wednesday, April 24, 2024
Personal Finance, Insurance, Finance, Asset Management, Banking, Professional Services, Consumer, Generation Z, Retirement, Seed, Learning, Social media, Precocious, Literacy, Hand, Workplace, Long-term care, Artificial intelligence, Corebridge Financial, Life, Habit, Gen, Family, Multimedia, Parent, Tutoring

“The best time to start planting the seeds for financial success is as early as possible, so it is great to see younger people getting a head start on financial planning.

Key Points: 
  • “The best time to start planting the seeds for financial success is as early as possible, so it is great to see younger people getting a head start on financial planning.
  • Although older generations got a later start in their own financial planning, American parents are committed to helping the next generations learn early.
  • While Gen Z is most likely to turn to social media to strengthen financial planning skills (40%), a plurality of baby boomers (36%) use financial professionals.
  • Originally designated Financial Literacy Month in 2004, National Financial Capability Month underscores the importance of holistic financial education.

Corebridge Financial Completes Sale of UK Life Insurance Business to Aviva plc

Retrieved on: 
Tuesday, April 9, 2024
Professional Services, Insurance, Human Resources, Finance, Asset Management, Banking, Slate, Retirement, Corebridge Financial, Sale

Corebridge Financial, Inc. (NYSE: CRBG) today announced that it has completed the previously announced sale of its UK life insurance business (operating as AIG Life Limited) to Aviva plc.

Key Points: 
  • Corebridge Financial, Inc. (NYSE: CRBG) today announced that it has completed the previously announced sale of its UK life insurance business (operating as AIG Life Limited) to Aviva plc.
  • The transaction allows Corebridge to focus on Life & Retirement products and solutions in the United States.
  • J.P. Morgan Securities LLC acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Corebridge.

Corebridge Financial Schedules Announcement of First Quarter 2024 Financial Results

Retrieved on: 
Thursday, April 4, 2024
Finance, Banking, Professional Services, Asset Management, Insurance, Corebridge Financial, Webcast, EDT

Corebridge Financial, Inc. (NYSE: CRBG) today announced that it will report first quarter 2024 financial results before the market opens on Friday, May 3, 2024.

Key Points: 
  • Corebridge Financial, Inc. (NYSE: CRBG) today announced that it will report first quarter 2024 financial results before the market opens on Friday, May 3, 2024.
  • The Corebridge press release and financial supplement will be available in the Investors section of corebridgefinancial.com .
  • Corebridge will host a conference call at 8:30 a.m. EDT on Friday, May 3, 2024, to review these results.
  • The webcast can be accessed in the Investors section of corebridgefinancial.com , and a replay will be available shortly after the event.

Corebridge Financial Elects Deborah Leone to Board of Directors

Retrieved on: 
Monday, March 11, 2024
Professional Services, Insurance, Finance, Goldman Sachs, Syracuse University, Wealth management, Internal audit, Corebridge Financial, PWM, Audit committee, Trustee, Multimedia, IMD, Audit

Corebridge Financial, Inc. (NYSE: CRBG) today announced that its Board of Directors elected Deborah Leone as an independent director on March 5, 2024.

Key Points: 
  • Corebridge Financial, Inc. (NYSE: CRBG) today announced that its Board of Directors elected Deborah Leone as an independent director on March 5, 2024.
  • View the full release here: https://www.businesswire.com/news/home/20240311455964/en/
    Ms. Leone is a financial expert and retired partner of the Goldman Sachs Group, Inc., having built a 30-year career at the multinational investment bank and financial services company.
  • “We are very pleased to add someone with Deb’s broad experience and background to the Board of Corebridge Financial,” said Peter Zaffino, Chairman of the Board of Directors of Corebridge Financial.
  • In 2021, Ms. Leone joined the board of Organon, a global healthcare company with a focus on women’s health, where she serves on the Audit Committee.

Americans Embracing Possibility of Living to 100, Many Expecting Over Three Decades of Retirement

Retrieved on: 
Tuesday, March 12, 2024
Personal Finance, Insurance, Women, Finance, Consulting, Men, Professional Services, Family, Consumer, Friends, Social Security, Generation, Retirement, Accounting, Generation Z, The Longevity Project, Consultant, Death, Quality of life, Nature, Season, Woman, Social, Investment, International Chinese Language Program, Corebridge Financial, Medicare, Workplace, Financial adviser

When it comes to retiring early (ages 50-61), Generation Z is the most optimistic, with 17% seeing this as a possibility.

Key Points: 
  • When it comes to retiring early (ages 50-61), Generation Z is the most optimistic, with 17% seeing this as a possibility.
  • “A longer life presents exciting new opportunities but will require thoughtful planning and purposeful action,” said Bryan Pinsky, President of Individual Retirement at Corebridge Financial.
  • Two-thirds of Americans (66%) fear running out of money more than death, and these concerns appear to be rooted in assessments of and expectations for their retirement savings.
  • Topics include longevity, retirement income, Social Security and Medicare, as well as content designed specifically for women.

Corebridge Financial Launches New Multi-Year Guaranteed Annuity for Registered Investment Advisors

Retrieved on: 
Wednesday, January 24, 2024
Professional Services, Insurance, Finance, Senior, Compact disc, Retirement, American International Group, Accounting, Life, Corebridge Financial, RIAS, Oids, Partial, Nature, AGL, Growth, Financial adviser

Corebridge Financial today announced the expansion of its annuity lineup for registered investment advisors (RIAs) with the launch of American Pathway AdvisorySM—a multi-year guaranteed annuity (MYGA) that offers growth and principal protection, along with flexibility and convenience.

Key Points: 
  • Corebridge Financial today announced the expansion of its annuity lineup for registered investment advisors (RIAs) with the launch of American Pathway AdvisorySM—a multi-year guaranteed annuity (MYGA) that offers growth and principal protection, along with flexibility and convenience.
  • American Pathway Advisory is a fixed annuity that brings enhanced flexibility to the MYGA space through innovative renewal options.
  • Registered investment advisors can visit the Corebridge RIA-dedicated website to find business development and client education programs, access interactive tools that help clients better plan and prepare for retirement and discover more about the full suite of Corebridge advisory solutions.
  • "Corebridge Financial is helping more and more registered investment advisors take action to improve retirement outcomes for their clients,” said Eric Taylor, RICP®, Senior Vice President, National Sales Manager, Corebridge Financial.

Corebridge Financial Schedules Announcement of Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, January 17, 2024
Finance, Banking, Professional Services, Asset Management, Insurance, Corebridge Financial, EST, Webcast, Cryptocurrency

Corebridge Financial, Inc. (NYSE: CRBG) today announced that it will report fourth quarter and full year 2023 financial results before the market opens on Thursday, February 15, 2024.

Key Points: 
  • Corebridge Financial, Inc. (NYSE: CRBG) today announced that it will report fourth quarter and full year 2023 financial results before the market opens on Thursday, February 15, 2024.
  • The Corebridge press release and financial supplement will be available in the Investors section of corebridgefinancial.com .
  • Corebridge will host a conference call at 8:30 a.m. EST on Thursday, February 15, 2024, to review these results.
  • The webcast can be accessed in the Investors section of corebridgefinancial.com , and a replay will be available shortly after the event.

Corebridge Financial Announces $150 Million Share Repurchase from AIG and Blackstone

Retrieved on: 
Thursday, December 14, 2023
Professional Services, Insurance, Finance, International Marxist Group, Share repurchase, AIG, Corebridge Financial, American International Group, NYSE, Repurchase agreement, Blackstone Inc., Car rental, Security (finance)

Corebridge Financial, Inc. (NYSE: CRBG) (“Corebridge”) today announced that it entered into a share repurchase agreement (the “Share Repurchase Agreement”) with American International Group, Inc. (“AIG”) and an affiliate of Blackstone Inc. (“Blackstone”) on December 14, 2023, pursuant to which it will repurchase an aggregate of $150 million of Corebridge common stock (the “Share Repurchase”).

Key Points: 
  • Corebridge Financial, Inc. (NYSE: CRBG) (“Corebridge”) today announced that it entered into a share repurchase agreement (the “Share Repurchase Agreement”) with American International Group, Inc. (“AIG”) and an affiliate of Blackstone Inc. (“Blackstone”) on December 14, 2023, pursuant to which it will repurchase an aggregate of $150 million of Corebridge common stock (the “Share Repurchase”).
  • Of the $150 million, approximately $135 million will be repurchased from AIG and approximately $15 million will be repurchased from Blackstone.
  • The Share Repurchase is expected to close on December 18, 2023, subject to customary closing conditions.
  • The purchase price paid by Corebridge was $21.75 per share, the closing price of Corebridge common stock on the New York Stock Exchange immediately prior to entry into the Share Repurchase Agreement.