Corebridge Financial Inc
corebridgefinancial.comWhat Do They Do?
Provides retirement and insurance products to individuals, employers and institutional customers.
10-K for FY2025, filed Feb 11, 2026We are one of the largest providers of retirement solutions and insurance products in the United States, committed to helping individuals…View ↗
Our target markets include K-12 schools, higher education institutions, healthcare providers, government employers and other tax-exempt…View ↗
Individual Retirement – consists of fixed annuities, fixed index annuities and registered index-linked annuities. Group Retirement –…View ↗
How Do They Make Money?
It receives premiums for traditional life insurance and certain annuities, policy fees tied to account values or benefit bases, and fees for advisory services. It also earns investment income and the spread between investment yields and interest credited to policyholders.
10-K for FY2025, filed Feb 11, 2026Premiums are principally derived from our traditional life insurance and certain annuity products including PRT transactions and structured…View ↗
We bear the risk of investment performance for fixed annuity products. These products primarily generate spread-based income on the…View ↗
Our revenue is generated by a combination of spread and fee income. Our products generate spread-based income on the difference between…View ↗
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10-K for FY2025, filed Feb 11, 2026
FY2025 revenue by reportable segment ↗
$18.5B
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10-K for FY2025, filed Feb 11, 2026
$18.5B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Individual Retirement
|
35%
FY2022: 22%
|
Individual Retirement, FY2025
$6.4B Sources
|
|
Group Retirement
|
15%
FY2022: 11%
|
Group Retirement, FY2025
$2.7B Sources
|
|
Life Insurance
|
23%
FY2022: 20%
|
Life Insurance, FY2025
$4.2B Sources
|
|
Institutional Markets
|
38%
FY2022: 17%
|
Institutional Markets, FY2025
$7B Sources
|
|
Corporate & Other
|
0.5%
FY2022: 3.4%
|
Corporate & Other, FY2025
$83M Sources
|
Who Are Their Customers?
Individuals buy annuities through banks, broker-dealers and insurance agents. Employers work with Corebridge and plan consultants on retirement plans, while its advisors also work directly with plan participants.
10-K for FY2025, filed Feb 11, 2026Individual Retirement has a large and diverse distribution platform, allowing the business to reach and serve a wide range of consumers.…View ↗
Our individual annuity products are primarily sold to mass affluent and high net worth individuals for retirement accumulation, retirement…View ↗
Through our broad product and service offerings, we create relationships with both plan sponsors (employers) and plan participants…View ↗
Do Revenues Turn Into Profits?
No. It lost $366M in FY2025.
10-K for FY2025, filed Feb 11, 2026
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
$2MView ↗
- ▲ Now profitable
- vs −$660M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Jul 30, 2026
Shareholders approved the proposed merger with Equitable
The merger still requires regulatory approval and other closing conditions.
Sources
8-K, filed Jul 30, 2026
On July 30, 2026, Corebridge and Equitable issued a joint press release announcing that the stockholder approvals required in connection…View ↗
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Apr 15, 2026
Corebridge appointed an interim CFO as its CFO prepared to leave
Christopher Filiaggi was named interim CFO; Elias Habayeb was set to resign.
Sources
8-K, filed Apr 15, 2026
On April 15, 2026, Corebridge Financial, Inc. (the Company) announced the appointment of Christopher Filiaggi, the Company’s Chief…View ↗
Shrinking. Revenue fell 21% in 4 years, from $23.3B in FY2021 to $18.5B in FY2025, about 6% a year.
Variable annuities moved out of Individual Retirement
The older report includes variable annuities in Individual Retirement. The latest report lists fixed, fixed index and registered index-linked annuities there, and places the reinsured individual variable annuity business in Corporate & Other.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 11, 2026Individual Retirement — Through the twelve months ended September 30, 2022, we are a leading provider in the over $286.2 billion individual…View ↗
Individual Retirement – consists of fixed annuities, fixed index annuities and registered index-linked annuities. Group Retirement –…View ↗
–results of our individual variable annuity business that is reinsured to CSLR.View ↗
The closing with respect to the AGL Reinsurance Agreement occurred on August 1, 2025. Accordingly, retrospectively, effective in the third…View ↗
International life portfolio
The older report described a growing presence in the UK and Ireland; the latest report records the sale of Laya and AIG Life U.K.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 11, 2026Individual Retirement — Through the twelve months ended September 30, 2022, we are a leading provider in the over $286.2 billion individual…View ↗
Individual Retirement – consists of fixed annuities, fixed index annuities and registered index-linked annuities. Group Retirement –…View ↗
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