Equitable Holdings revises segments post-RGA; recast results issued

Equitable Holdings (EQH) announced changes to how it reports its business segments following the July 31, 2025 closing of its reinsurance Transaction with RGA Reinsurance Company.

Rhea-AI Filing Summary

Equitable Holdings (EQH) announced changes to how it reports its business segments following the July 31, 2025 closing of its reinsurance Transaction with RGA Reinsurance Company. Beginning in the third quarter of 2025, the company will combine its Individual Retirement and Group Retirement segments into a single Retirement segment and move its legacy business and life insurance business (previously in Protection Solutions) into Corporate and Other.

Equitable furnished an updated Financial Supplement (Exhibit 99.1) for the period ended June 30, 2025 with recast historical segment results and GAAP reconciliations. The changes affect only segment presentation and have no impact on previously reported Consolidated Financial Statements. The company cautions that recast audited financial statements may differ, perhaps materially, from Exhibit 99.1. An investor presentation (Exhibit 99.2) outlining key impacts is also furnished and will be available on October 22, 2025. The materials are furnished under Regulation FD and are not deemed filed.

Insights

Equity research analyst

Re-segmentation tied to RGA deal; reporting only, no change to consolidated results.

Equitable Holdings is revising its segment reporting after the July 31, 2025 Transaction close. Two retirement lines are consolidated into a single Retirement segment, while legacy and life insurance move to Corporate and Other. This is a presentation update, not an operational reset disclosed here.

The company furnished a Financial Supplement through June 30, 2025 with recast history and GAAP reconciliations, and notes that recast audited statements may differ, perhaps materially. Consolidated financial statements already reported are unaffected by this change in presentation.

An investor deck highlights the areas of impact and is available on October 22, 2025. Actual implications for trend analysis depend on how items migrate between segments; subsequent audited recasts will clarify comparability.

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, or exhibit attachments filed with this report.

FAQ

What segment changes did Equitable Holdings (EQH) announce?

EQH will combine Individual Retirement and Group Retirement into one Retirement segment and move legacy and life insurance into Corporate and Other.

When did the RGA-related Transaction close for EQH?

The Transaction closed on July 31, 2025.

Do the segment changes affect EQH’s consolidated financial statements?

No. EQH states the changes affect only segment presentation and do not impact previously reported Consolidated Financial Statements.

What did Exhibit 99.1 include for EQH?

A Financial Supplement for the period ended June 30, 2025 with recast segment results and GAAP reconciliations.

What is Exhibit 99.2 for EQH and when is it available?

An Investors Briefing Supplement outlining key impacts, available on October 22, 2025 on EQH’s investor website.

Are the exhibits deemed filed under the Exchange Act?

No. The information (including Exhibits 99.1 and 99.2) is furnished, not filed, and is not subject to Section 18 liabilities.

Could audited recast results differ from the furnished supplement?

Yes. EQH notes recast audited financial statements may differ, perhaps materially, from Exhibit 99.1.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/22/2025 - 04:30 PM Learn about SEC filing dates

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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 22, 2025

Equitable Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware			001-38469			90-0226248
(State or other jurisdiction of			(Commission File Number)			(I.R.S. Employer
incorporation or organization)						Identification No.)

1345 Avenue of the Americas, New York, New York                     10105

(Address of principal executive offices) (Zip Code)

(212) 554-1234

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or address, if changed since last report)

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

Name of Exchange on which registered

Common Stock

EQH

New York Stock Exchange

Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series A

EQH PR A

New York Stock Exchange

Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series C

EQH PR C

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).

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 Equitable Holdings, Inc. (the “Company”) in its Current Report on Form 8-K filed on July 31, 2025, the transactions (the “Transaction”) contemplated by the Master Transaction Agreement, dated as of February 23, 2025 (the “Agreement”), by and among Equitable Financial Life Insurance Company, Equitable Financial Life Insurance Company of America, and Equitable Financial Life and Annuity Corporation (together, the “Ceding Companies”) and RGA Reinsurance Company, closed on July 31, 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) combine its Individual Retirement and Group Retirement segments into one reporting segment, to be called Retirement, and (2) report its legacy business—and its life insurance business, which was previously reported in the Protection Solutions segment—in the Corporate and Other segment.

Exhibit 99.1 to this Form 8-K contains an updated Financial Supplement for the period ended June 30, 2025, which provides recast historical segment financial results. 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. The Financial Supplement also 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”).

These results are being provided prior to the availability of the audited financial statements to assist investors and other users of our financial statements in evaluating the changes to our reportable segments. 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. It is possible that the recast audited financial statements may differ, perhaps materially, from the information included in Exhibit 99.1.

To facilitate our investors’ ability to evaluate the changes resulting from our re-segmentation, the Company has prepared a presentation, attached hereto as Exhibit 99.2 which outlines the key areas of impact. This presentation will be made available to investors on October 22, 2025, on our website, http://ir.equitableholdings.com.

The information in this Item (including Exhibit 99.1 and 99.2) shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.			Description of Exhibit
99.1			Financial Supplement for the period ended June 30, 2025 (adjusted for re-segmentation) (furnished and not filed)
99.2			Investors Briefing Supplement (adjusted for re-segmentation) (furnished and not filed)
104			Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

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

			EQUITABLE HOLDINGS, INC.
Date: October 22, 2025			By:			/s/ Ralph Petruzzo
			Name:			Ralph Petruzzo
			Title:			Deputy General Counsel