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 reports news on its retirement solutions and insurance products business, including individual annuities, group retirement recordkeeping and plan administration, life insurance, and institutional markets activity. Recurring updates include operating and financial results, capital-structure actions, preferred stock dividends, and research tied to retirement savings and financial decision-making.
Company news also covers governance developments, including board composition and stockholder-designated directors, alongside disclosures related to insurance regulation, risk oversight, and relationships with financial professionals and institutions that distribute or support Corebridge products.
Corebridge Financial (NYSE: CRBG) has rebranded its direct-to-consumer life insurance business from AIG Direct to Corebridge Direct. The company aims to offer an accessible and straightforward way for individuals to obtain life insurance. Customers can visit corebridgedirect.com or call the hotline at 800-294-4544 for personalized quotes and coverage advice from licensed agents.
Tim Heslin, President of Life Insurance, emphasized the significance of this rebranding in Corebridge's broader strategy to help more people secure life insurance. Corebridge Financial is recognized as a top 7 provider in term life insurance sales in the U.S. and holds a strong presence with about 4.2 million in-force policies. The company’s life insurance entities have also received high financial strength ratings from independent agencies.
American International Group (AIG) has completed the deconsolidation of Corebridge Financial for accounting purposes. This move was facilitated by AIG waiving its right to majority representation on the Corebridge Board and the resignation of Chris Schaper from the Board. Peter Zaffino, AIG Chairman and CEO, highlighted this as a strategic decision positioning AIG as a leading global Property and Casualty insurer. AIG owns 48.35% of Corebridge's common stock, and Corebridge has developed partnerships with Blackstone, BlackRock, and Nippon Life, which aims to be a 20% strategic investor.
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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.