Corebridge updates segment reporting after annuity deal
Rhea-AI Filing Summary
Corebridge Financial, Inc. furnished an update on how it reports its business segments following the closing of certain transactions under a Master Transaction Agreement involving American General Life Insurance Company, The United States Life Insurance Company in the City of New York, and Corporate Solutions Life Reinsurance Company on August 1, 2025.
Beginning in the third quarter of 2025, the company will report its variable annuity business, previously included in the Individual Retirement segment, within the Corporate and Other segment and will exclude this business from Adjusted Pre-tax Operating Income (APTOI). Corebridge has published a financial supplement with recast historical segment results, including reconciliations of certain non-GAAP measures to GAAP, and states that these segment changes do not affect its previously reported consolidated financial statements. The information, including Exhibit 99.1, is being furnished to the SEC rather than filed.
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8-K Event Classification
FAQ
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What did Corebridge Financial (CRBD) disclose in this SEC report?
How is Corebridge Financial changing its segment reporting for variable annuities?
Does the recast segment information change Corebridge’s consolidated financial statements?
What is included in Corebridge’s recast historical segment financial results?
Where can investors find Corebridge’s recast segment results?
Is the information about Corebridge’s segment changes considered filed with the SEC?
AI-generated analysis. How Rhea-AI works. Not financial advice.