Annuity segment shift prompts Corebridge (NYSE: CRBD) recast results

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.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

0001889539FALSE00018895392025-10-012025-10-010001889539us-gaap:CommonStockMember2025-10-012025-10-010001889539crbg:A6.375JuniorSubordinatedNotesDue2064Member2025-10-012025-10-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 1, 2025

Corebridge Financial, Inc.

(Exact name of registrant as specified in its charter)

Delaware						001-41504			95-4715639
(State or Other Jurisdiction of Incorporation)						(Commission File Number)			(IRS Employer Identification No.)
2919 Allen Parkway, Woodson Tower,
Houston,			Texas						77019
(Address of Principal Executive Offices)									(Zip Code)

Registrant’s Telephone number, including area code: 1-877-375-2422

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

CRBG

New York Stock Exchange

6.375% Junior Subordinated Notes

CRBD

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

As previously reported by Corebridge Financial, Inc. (the “Company”) in its quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 5, 2025, a portion of the transactions contemplated by the Master Transaction Agreement by and among American General Life Insurance Company (“AGL”), The United States Life Insurance Company in the City of New York (“USL”) and Corporate Solutions Life Reinsurance Company, closed on August 1, 2025 (the “Closing”). As a result of the Closing, the Company announced that, retrospectively, beginning in the third quarter of 2025, it is making certain changes to its segment reporting to (1) report its variable annuity business previously reported in the Individual Retirement segment in the Corporate and Other segment, and (2) exclude the results of this business from Adjusted Pre-tax Operating Income (“APTOI”).

Exhibit 99.1 to this Form 8-K contains information that the company has published on its Investor Relations website providing recast historical segment financial results. The financial supplement is not intended to be a complete presentation of the Company’s financial position or results of operations as of and for the periods presented. The changes in the segment structure affect only the manner in which the results for the Company’s operating segments were previously reported. The historical segment information provided under the new segment structure has no other impact on the Company’s previously reported Consolidated Financial Statements or Consolidated Condensed Financial Statements. In addition, it includes reconciliations of certain non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (“GAAP”).

The information in this Item 7.01, including the corresponding Exhibit 99.1, is being furnished with the Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description of Exhibit
99.1						Corebridge Financial, Inc. Recast of Historical Segment Results, dated October 1, 2025 (furnished herewith and not filed).
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Corebridge Financial, Inc.

Date:

October 1, 2025

By:

/s/ Elias Habayeb

Name:

Elias Habayeb

Title:

Executive Vice President and Chief Financial Officer

FAQ

What did Corebridge Financial (CRBD) disclose in this SEC report?

Corebridge Financial, Inc. disclosed that it has recast its historical segment financial results to reflect new segment reporting starting in the third quarter of 2025, and furnished these recast segment results as Exhibit 99.1.

How is Corebridge Financial changing its segment reporting for variable annuities?

Corebridge Financial will report its variable annuity business, which was previously in the Individual Retirement segment, within the Corporate and Other segment and will exclude this business from Adjusted Pre-tax Operating Income (APTOI) beginning in the third quarter of 2025.

Does the recast segment information change Corebridge’s consolidated financial statements?

No. Corebridge states that the changes affect only how operating segment results were previously reported and that the recast historical segment information has no impact on its previously reported consolidated financial statements or consolidated condensed financial statements.

What is included in Corebridge’s recast historical segment financial results?

The recast historical segment financial results include updated segment data under the new structure and reconciliations of certain non-GAAP financial measures to the most directly comparable GAAP measures.

Where can investors find Corebridge’s recast segment results?

Corebridge has published the recast historical segment financial results in a financial supplement on its Investor Relations website, which is also furnished to the SEC as Exhibit 99.1 to this report.

Is the information about Corebridge’s segment changes considered filed with the SEC?

No. Corebridge specifies that the information in Item 7.01, including Exhibit 99.1, is being furnished to the SEC and is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.