Corebridge Financial Inc Stock Price, News & Analysis

Corebridge Financial has announced an exchange offer for up to $1.0 billion of its Senior Notes, which include various maturities ranging from 2025 to 2052. The U.S. Securities and Exchange Commission has declared effective its Registration Statement for this exchange on April 26, 2023. The offer includes exchange of Old Senior Notes for a like principal amount of New Senior Notes, which are registered under the Securities Act of 1933. This exchange offer will expire at 5:00 p.m. EDT on May 24, 2023, unless extended. The goal of this exchange is to enhance the liquidity and financial flexibility of Corebridge Financial.

Corebridge Financial, Inc. (NYSE: CRBG) is scheduled to report its first quarter 2023 financial results on May 9, 2023, before market opening. The press release and financial supplement will be available in the Investors section of their website. A conference call to discuss these results will take place at 8:30 a.m. EDT on the same day, with a webcast accessible through their website. As of December 31, 2022, Corebridge managed over $355 billion in assets, positioning itself as one of the largest providers of retirement and insurance solutions in the United States. The company emphasizes its commitment to assist individuals in achieving secure financial futures through partnerships with financial professionals and institutions.

RetireOne partners with Corebridge Financial to enhance its fee-based insurance solutions, offering two new advisory-centric annuities on its platform. This collaboration allows registered investment advisors (RIAs) to access zero-commission retirement solutions tailored for client needs. The new products include Power Index Advisory, designed for growth with principal protection, and Assured Edge Advisory, which offers predictable future income with annual increases. RetireOne currently manages over $1.3 billion in retirement savings, aiming to support RIAs in mitigating market risks and providing lifetime income options.

Corebridge Financial (NYSE: CRBG) has expanded its partnership with Market Synergy Group to launch Power Select Advisory, a fixed index annuity aimed at registered investment advisors (RIAs). This innovative product offers growth potential and downside protection, featuring indices from renowned asset managers Dimensional Fund Advisors and AllianceBernstein. Key benefits include protected lifetime income options with two guaranteed living benefit riders. Corebridge's new offering is set to enhance retirement savings solutions, aligning with current market demands for financial security.

Corebridge Financial (NYSE:CRBG) has launched new hedged equity funds within its Advanced Outcomes Annuity, enhancing its structured outcome investments. Managed by Milliman Financial Risk Management and sub-advised by Capital Group, these funds aim to provide higher growth potential while offering downside protection. Recent research indicates 40% of financial professionals are increasingly seeking structured solutions amid market volatility. The new funds include the Milliman-Capital Group Hedged U.S. Growth Fund and the Milliman-Capital Group Hedged U.S. Income and Growth Fund, featuring a Capture-Reset-Reinvest strategy that allows for investment gain capture and reinvestment opportunities.

Corebridge Financial reported its Q4 2022 results, showing a net loss of $566 million or $0.87 per share, influenced by $1.2 billion in realized losses related to derivatives and foreign exchange. Despite this, adjusted operating income was $574 million, with operating EPS at $0.88. Premiums and deposits grew 14% year-over-year to $8.7 billion, while base portfolio income from insurance operations rose 19%. The company maintained a strong balance sheet and declared a quarterly dividend of $0.23 per share, signaling ongoing commitment to capital management.

Corebridge Financial, Inc. (NYSE: CRBG) has appointed Lisa Longino as Chief Investment Officer, effective immediately. Reporting to Kevin Hogan, CEO, Longino brings over 30 years of investment experience, including previous roles at Prudential Financial and MetLife. She aims to enhance economic returns while managing risks within the company's investment portfolio, which comprises over $345 billion in assets under management and administration as of September 30, 2022. This leadership change reflects Corebridge's commitment to maintaining a high-quality asset portfolio.

Corebridge Financial, Inc. (NYSE: CRBG) will release its fourth quarter and full year 2022 financial results before the market opens on February 17, 2023. A conference call will follow at 8:30 a.m. EST to discuss these results. Corebridge, with over $345 billion in assets under management as of September 30, 2022, is a leading provider of retirement solutions and insurance products in the U.S. The press release and financial supplement will be available in the Investors section of their website.

Corebridge Financial has launched the Dimensional US Foundations Index for its Power Series of Index Annuities, developed in partnership with Dimensional Fund Advisors. The Index emphasizes diversified exposure to small-cap, value, and high profitability stocks, aiming for higher returns while maintaining manageable volatility. Utilizing Salt Financial's truVol Risk Control Engine, this new index enhances investment strategies for retirement saving by offering greater flexibility. The initiative reflects Corebridge's commitment to innovative retirement solutions as part of a $345 billion asset management framework.