Welcome to our dedicated page for Corebridge Financial news (Ticker: CRBG), a resource for investors and traders seeking the latest updates and insights on Corebridge Financial stock.
Corebridge Financial, Inc. (NYSE: CRBG) is a U.S. financial services company focused on retirement solutions and insurance products. This news page aggregates company announcements, press releases and market updates that relate to Corebridge’s operations, capital markets activity and corporate developments.
Corebridge regularly issues news about its financial results, including quarterly earnings releases that discuss net income, adjusted after-tax operating income, premiums and deposits, and segment performance across Individual Retirement, Group Retirement, Life Insurance and Institutional Markets. These releases often include commentary on spread income, fee income and underwriting margin, as well as capital and liquidity metrics.
Investors can also find transaction-related news, such as announcements about reinsurance agreements, asset sales and capital markets offerings. For example, the company has reported on a Master Transaction Agreement involving the reinsurance of individual retirement variable annuity contracts and the sale of SunAmerica Asset Management, LLC (SAAMCo) to Venerable Holdings, Inc. It has also announced secondary offerings of common stock by American International Group, Inc. and its own repurchase of shares from the underwriter.
Corporate governance and leadership updates form another key category of news. Corebridge has issued press releases about board changes, including the election of a director pursuant to a stockholder’s agreement with Nippon Life Insurance Company, and about executive transitions, such as the planned departure of its Chief Financial Officer. Index-related announcements, including the company’s addition to the S&P MidCap 400 Index, are also covered.
By following this page, readers can review Corebridge’s official communications on earnings, strategic transactions, financing activities and governance events, all of which shape the context for analyzing CRBG as a mid-cap financial stock focused on retirement and insurance markets.
Corebridge Financial (NYSE: CRBG) has announced its schedule for the release of fourth quarter and full year 2024 financial results. The company will publish its earnings report after market close on Wednesday, February 12, 2025. Following the release, Corebridge will host a conference call at 10:00 a.m. EST on Thursday, February 13, 2025, to discuss the results.
All earnings materials will be made available in the Investors section of corebridgefinancial.com. Investors can access the webcast through the company's website, and a replay will be available shortly after the event.
Corebridge Financial (NYSE: CRBG) has expanded its Board of Directors to 13 members with the appointment of Keith Gubbay and Colin J. Parris. Gubbay's appointment follows Nippon Life Insurance Company's acquisition of a 21.6% equity stake in Corebridge. He previously served as Chairman of Resolution Life Group's US businesses and held senior positions at Sun Life and ING Americas.
Parris joins the board after serving as Senior VP and Chief Technology Officer at GE Digital and Senior Corporate Officer of GE until April 2024. His background includes 20 years at IBM in executive roles and current board positions at APTIV and Diebold Nixdorf. Both appointments bring technical expertise and strategic insight to support Corebridge's innovation and execution goals.
Corebridge Financial (NYSE: CRBG) has announced that Polly Klane will join as General Counsel in February, overseeing legal, compliance, regulatory, corporate secretary and government affairs functions. Klane, who will report to CEO Kevin Hogan and serve on the Executive Leadership Team, succeeds Christine Nixon, who is retiring after more than 30 years of service.
Klane brings extensive experience from her previous roles as General Counsel and Chief Legal Officer at Citizens Financial Group, along with senior legal positions at Capital One and Fannie Mae. Nixon, who joined SunAmerica in 1993 and transitioned to AIG in 1999 following its acquisition of SunAmerica, became General Counsel for AIG Life & Retirement in 2010 and continued in this role at Corebridge. She will remain through the first quarter to ensure a smooth transition.
Corebridge Financial's new research reveals significant gaps between women's retirement expectations and reality. Only 19% of retired women found retirement matching their expectations, with 50% finding it more expensive than anticipated and 46% retiring earlier than planned. While 51% of retired women rate their current financial health as good/very good, 63% wish they had started saving earlier.
The study shows that only 27% began saving between ages 18-29, and 42% didn't prioritize retirement planning until age 41 or later. For working women, key concerns include inflation (52%) and retiring comfortably (34%). The research highlights that women working with financial professionals show better financial health (59%) compared to those who don't (33%).
Corebridge Financial (NYSE: CRBG) announced significant changes to its Board of Directors. Alan Colberg, who has served on the board since September 2022, will succeed Peter Zaffino as Board Chairman. Jon Gray will step down, while Gilles Dellaert, Global Head of Blackstone Credit and Insurance, joins the board.
Following Nippon Life Insurance Company's recent acquisition of a 21.6% equity stake in Corebridge from AIG, Minoru Kimura, Managing Executive Officer and Head of Global Business at Nippon Life, has been elected to the board. AIG executives Sabra Purtill and Mia Tarpey are also stepping down. These changes result in a board composition of 11 members.
Corebridge Financial (NYSE: CRBG) announced the pricing of a secondary offering by American International Group (AIG) at $31.20 per share. AIG is offering 30 million existing shares, representing approximately $936 million in gross proceeds, with an option for underwriters to purchase an additional 4.5 million shares within 30 days. The offering, expected to close on November 12, 2024, represents a portion of AIG's approximately 568 million total outstanding shares. J.P. Morgan and Morgan Stanley are serving as underwriters, with all net proceeds going to AIG.
Corebridge Financial (NYSE: CRBG) reported a net loss of $1.2 billion ($2.02 per share) in Q3 2024, primarily due to realized losses from the Fortitude Re funds withheld embedded derivative. However, the company achieved adjusted after-tax operating income of $810 million and operating EPS of $1.38, representing a 31% year-over-year growth. Premiums and deposits reached $9.6 billion, up 5% from the previous year. The company returned $848 million to shareholders through dividends and share repurchases, maintaining an 83% year-to-date payout ratio. Core sources of income increased 4% year-over-year, with growth across base spread, fee income, and underwriting margin.
Corebridge Financial and Miami-Dade County Public Schools are celebrating 60 years of providing 403(b) retirement plans to educators, marking one of the earliest implementations in public schools. The partnership began in 1964 when The Variable Annuity Life Insurance Company, now part of Corebridge, issued a plan to a Coral Gables Elementary teacher at $25 per pay period.
Today, 403(b) plans hold approximately $1.3 trillion in retirement assets, supporting employees of public educational institutions, non-profits, hospitals, and religious organizations. Corebridge ranks among the top 5 retirement plan providers for K-12 schools and manages over $124 billion in customer assets, supported by more than 1,000 financial advisors.
Corebridge Financial (NYSE: CRBG) has announced its schedule for reporting third quarter 2024 financial results. The company will release its earnings after the market closes on Monday, November 4, 2024. Following the release, Corebridge will host a conference call on Tuesday, November 5, 2024, at 11:00 a.m. EST to discuss the results.
Investors and interested parties can access the earnings materials in the Investors section of the Corebridge Financial website. The conference call will be available as a webcast through the same section of the website, with a replay option provided shortly after the event concludes.
Corebridge Financial has launched Corebridge MarketLock® Annuity, a registered index-linked annuity (RILA) issued by its subsidiary American General Life Insurance Company. This launch makes Corebridge the only top 3 annuity provider with products in every major category. MarketLock features an exclusive Lock Strategy that automatically secures gains when a preset growth target is reached, along with popular RILA investment strategies.
The new RILA offers 20 different strategy account options, including Cap, Trigger, and Dual Direction crediting methods. It provides growth potential with downside protection through a buffer system. RILAs have been gaining popularity, setting new sales records for five consecutive quarters. Corebridge aims to meet diverse retirement needs and help tackle challenges like inflation, rising healthcare costs, and market volatility with this product.