Corebridge Financial Inc · Q3 2024 earnings

Briefing

Corebridge's Q3 2024 results were announced, revealing a net loss alongside growth in operating earnings per share and shareholder returns.

Corebridge Financial reported a net loss of $1.2 billion, primarily due to realized losses from the Fortitude Re funds withheld embedded derivative. However, the company grew operating earnings per share by 31% year over year to $1.38 and returned $848 million to shareholders through dividends and share repurchases. Premiums and deposits increased by 5% to $9.6 billion.

• Net loss of $1.2 billion, or $2.02 per share, largely a result of realized losses primarily driven by the Fortitude Re funds withheld embedded derivative.
• Adjusted after-tax operating income of $810 million and operating EPS of $1.38 per share.
• Premiums and deposits of $9.6 billion, a 5% increase year-over-year.
• Returned $848 million to shareholders, including $715 million of share repurchases.

Headline financials

Revenue & EPS history

Corebridge remains focused on executing its strategies to create shareholder value and remains confident in the growth opportunities available to our four market-leading businesses as well as our ability to generate attractive returns across multiple market environments.