Corebridge Financial is a leading provider of retirement solutions and insurance products in the United States. Spun off from AIG in 2022, the company offers individual and group retirement plans, life insurance, and institutional market solutions. It manages over $400 billion in client assets, helping individuals and institutions achieve long-term financial security.
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Premiums Earned | 8,597,000 | 7,427,000 | 10,410,000 | 8,005,000 |
| Investment Income | 13,124,000 | 12,228,000 | 11,078,000 | 9,576,000 |
| Net Gains on Investments | (3,958,000) | (1,883,000) | (3,572,000) | 6,091,000 |
| Total Other Revenues | 718,000 | 935,000 | 884,000 | 1,025,000 |
| Total Revenues | 18,481,000 | 18,707,000 | 18,800,000 | 24,697,000 |
| Insurance Benefits & Claims | 14,590,000 | 11,645,000 | 13,783,000 | 9,494,000 |
| Policy Amortization Costs | 1,050,000 | 1,060,000 | 1,042,000 | 1,020,000 |
| Other Operating Expenses | 2,830,000 | 2,890,000 | 3,131,000 | 3,157,000 |
| Operating Profit | 11,000 | 3,112,000 | 844,000 | 11,026,000 |
| Interest Expense | (552,000) | (554,000) | (580,000) | (534,000) |
| Non-Operating Income | — | 245,000 | 676,000 | (1,000) |
| Total Non-Operating Income | (552,000) | (309,000) | 96,000 | (535,000) |
| Income Before Provision for Income Taxes | (541,000) | 2,803,000 | 940,000 | 10,491,000 |
| Provision for Income Taxes | (151,000) | 600,000 | (96,000) | 2,012,000 |
| Consolidated Net Income | (390,000) | 2,203,000 | 1,036,000 | 8,479,000 |
| Net Income Attributable to Minority Interests and Other | (24,000) | (27,000) | (68,000) | 320,000 |
| Net Income Attributable to Common Shareholders | (366,000) | 2,230,000 | 1,104,000 | 8,159,000 |
| Basic EPS | -0.68 | 3.73 | 1.72 | 12.63 |
| Diluted EPS | -0.68 | 3.72 | 1.71 | 12.60 |
| Basic Weighted Average Shares Outstanding | 539,300 | 598,000 | 643,300 | 646,100 |
| Diluted Weighted Average Shares Outstanding | 539,300 | 599,200 | 645,200 | 647,400 |
| Shares Outstanding | 496,374 | 561,485 | 621,664 | 645,000 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Debt Securities | 194,788,000 | 176,102,000 | 171,105,000 | 160,562,000 |
| Equity and Preferred Securities | 79,000 | 56,000 | 63,000 | 170,000 |
| Other Investments | 70,391,000 | 67,600,000 | 61,460,000 | 59,384,000 |
| Total Investments | 265,258,000 | 243,758,000 | 232,628,000 | 220,116,000 |
| Cash and Cash Equivalents | 447,000 | 806,000 | 612,000 | 552,000 |
| Reinsurance Contract Assets | 26,051,000 | 26,493,000 | 28,392,000 | 29,361,000 |
| Deferred Acquisition Costs | 8,885,000 | 10,293,000 | 10,011,000 | 10,563,000 |
| Other Receivables | 3,027,000 | 2,882,000 | 2,602,000 | 2,729,000 |
| Other Assets | 109,879,000 | 105,165,000 | 105,025,000 | 97,001,000 |
| Total Assets | 413,547,000 | 389,397,000 | 379,270,000 | 360,322,000 |
| Claims Reserves | 249,847,000 | 229,967,000 | 219,158,000 | 206,576,000 |
| Reinsurance Contract Liabilities | 23,648,000 | 24,291,000 | 25,957,000 | 26,551,000 |
| Total Debt | 10,906,000 | 12,392,000 | 11,872,000 | 15,326,000 |
| Other Liabilities | 115,186,000 | 110,421,000 | 109,648,000 | 101,550,000 |
| Total Liabilities | 399,587,000 | 377,071,000 | 366,635,000 | 350,003,000 |
| Preferred Stock | 493,000 | — | — | — |
| Common Stock | 7,000 | 7,000 | 6,000 | 6,000 |
| Treasury Stock | (4,382,000) | (2,282,000) | (503,000) | — |
| Additional Paid-in Capital | 8,162,000 | 8,161,000 | 8,149,000 | 8,030,000 |
| Accumulated Other Comprehensive Income | (9,452,000) | (13,681,000) | (13,458,000) | (16,863,000) |
| Retained Earnings | 18,373,000 | 19,257,000 | 17,572,000 | 18,207,000 |
| Total Common Shareholders' Equity | 13,201,000 | 11,462,000 | 11,766,000 | 9,380,000 |
| Minority Interests and Other | 759,000 | 864,000 | 869,000 | 939,000 |
| Total Shareholders' Equity | 13,960,000 | 12,326,000 | 12,635,000 | 10,319,000 |
| Total Liabilities and Shareholders' Equity | 413,547,000 | 389,397,000 | 379,270,000 | 360,322,000 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | (390,000) | 2,203,000 | 1,036,000 | 8,479,000 |
| Depreciation & Amortization | 556,000 | 193,000 | 366,000 | 585,000 |
| Other Adjustments | 2,918,000 | 977,000 | 1,154,000 | (311,000) |
| Changes in Receivables | 174,000 | (167,000) | (265,000) | 40,000 |
| Changes in Reinsurance Contract Assets | 1,024,000 | 825,000 | 675,000 | 1,086,000 |
| Changes in Deferred Acquisition Costs | (1,381,000) | (1,377,000) | (1,260,000) | (1,059,000) |
| Changes in Claims Reserves | 630,000 | 980,000 | 770,000 | 996,000 |
| Changes in Income Taxes Payable | (343,000) | 349,000 | (116,000) | 912,000 |
| Changes in Other Operating Activities | (1,167,000) | (1,832,000) | 997,000 | (8,107,000) |
| Cash from Operating Activities | 2,021,000 | 2,151,000 | 3,357,000 | 2,621,000 |
| Purchases of Investments | (60,204,000) | (44,675,000) | (30,374,000) | (38,175,000) |
| Proceeds from Sale of Investments | 47,675,000 | 32,599,000 | 24,778,000 | 32,070,000 |
| Payments for Business Acquisitions | — | — | (5,000) | (107,000) |
| Proceeds from Business Divestments | — | 577,000 | 747,000 | — |
| Other Investing Activities | (803,000) | (37,000) | (625,000) | (1,041,000) |
| Cash from Investing Activities | (13,332,000) | (11,536,000) | (5,476,000) | (7,253,000) |
| Issuance of Short-Term Debt | — | — | — | 1,512,000 |
| Repayments of Short-Term Debt | (1,101,000) | (250,000) | (1,250,000) | (8,312,000) |
| Net Issuance / (Repayments) of Short-Term Debt | (1,101,000) | (250,000) | (1,250,000) | (6,800,000) |
| Issuance of Long-Term Debt | 153,000 | 1,560,000 | 1,461,000 | 8,397,000 |
| Net Issuance / (Repayments) of Long-Term Debt | 153,000 | 1,560,000 | 1,461,000 | 8,397,000 |
| Issuance of Common Shares | — | 1,000 | — | — |
| Repurchases of Common Shares | (2,118,000) | (1,792,000) | (498,000) | — |
| Net Issuance / (Repurchases) of Common Shares | (2,118,000) | (1,791,000) | (498,000) | — |
| Issuance of Preferred Shares | 493,000 | — | — | — |
| Net Issuance / (Repurchases) of Preferred Shares | 493,000 | — | — | — |
| Common Share Dividends Paid | (511,000) | (544,000) | (1,722,000) | (876,000) |
| Other Financing Activities | 14,023,000 | 10,605,000 | 4,123,000 | 3,953,000 |
| Cash from Financing Activities | 10,939,000 | 9,580,000 | 2,114,000 | 4,674,000 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 1,000 | 1,000 | 3,000 | (10,000) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | (371,000) | 196,000 | (2,000) | 32,000 |
| Metric | Value |
|---|---|
| Market Cap | $14.98B |
| P/E | -44.37x |
| P/S | 0.81x |
| EV/EBITDA | 28.62x |
| Return on Equity | -3.0% |
| Return on Invested Capital | 0.0% |
| Dividend Yield | 3.1% |
| Free Cash Flow Margin | 10.9% |
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q1 2026 | $106M | -48.5% | 213.2% | $226M |
| Q4 2025 | $142M | -32.7% | 776.8% | $1.10B |
| Q3 2025 | $174M | -42.0% | 53.4% | $93M |
| Q2 2025 | $196M | -2.5% | -240.3% | $-471M |
| Q1 2025 | $206M | — | -346.6% | $-714M |
| Q4 2024 | $211M | — | 1455.0% | $3.07B |
| Q3 2024 | $300M | — | -486.7% | $-1.46B |
| Q2 2024 | $201M | — | 175.6% | $353M |