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.
American International Group (AIG) announced the completion of its secondary offering of Corebridge Financial (CRBG) common stock. AIG sold 30 million shares of Corebridge Financial's common stock at $29.20 per share, generating approximately $872 million in net proceeds after expenses. Morgan Stanley & Co. acted as the underwriter for the offering. The secondary offering also included a 30-day option for the underwriter to purchase an additional 4.5 million shares. The registration statement for this offering was filed with the U.S. Securities and Exchange Commission and became effective automatically.
American International Group (NYSE: AIG) has priced its secondary offering of Corebridge Financial (NYSE: CRBG) common stock at $29.20 per share.
The offering involves 30 million shares, expected to net AIG approximately $876 million. Additionally, AIG has allowed the underwriter a 30-day option to purchase up to 4.5 million more shares.
The offering will close on June 3, 2024, pending customary conditions. Morgan Stanley & Co. is the sole underwriter and may sell the shares through various market channels.
Proceeds from the sale will go directly to AIG. Relevant documents can be obtained from the SEC's website or Morgan Stanley.
American International Group (NYSE: AIG) announced a secondary offering of 30 million shares of Corebridge Financial (NYSE: CRBG) common stock, with the option to sell an additional 4.5 million shares within 30 days. AIG will receive all net proceeds from the sale. The last reported price of Corebridge stock on May 29, 2024, was $29.47. Morgan Stanley & Co. is the underwriter, with shares potentially sold on the NYSE, OTC market, or through negotiated transactions. The offering will be conducted solely via prospectus.
Corebridge Financial, Inc. (NYSE: CRBG) reported impressive first quarter results for 2024, with net income of $878 million, or $1.41 per share. Adjusted after-tax operating income was $688 million and operating EPS was $1.10 per share. Premiums and deposits reached $10.6 billion, with a base portfolio income growth of 18%. The company completed the Corebridge Forward modernization program ahead of schedule, generating $400 million in run rate savings. Additionally, the sale of the UK life insurance business to Aviva plc was finalized on April 8, 2024. The Board of Directors authorized a $2 billion increase to the share repurchase program, returning $386 million to shareholders this quarter. With a focus on profitable growth and disciplined expense management, Corebridge demonstrates resilience and strategic foresight in delivering shareholder value.
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