Corebridge Financial Inc · Q4 2023 earnings

Briefing

Reported a net loss with increased premiums and deposits and base spread income.

Corebridge Financial reported Q4 2023 results, featuring a net loss of $1.3 billion but highlighted by a 20% increase in premiums and deposits, reaching $10.5 billion, and a 21% increase in base spread income, totaling $987 million. The company returned $1.1 billion to shareholders through share repurchases and dividends.

• Premiums and deposits increased by 20% year-over-year, reaching $10.5 billion.
• Base spread income rose by 21% compared to the prior year quarter, totaling $987 million.
• The company's base yield increased by 45 basis points over the prior year quarter.
• Returned $1.1 billion to shareholders through share repurchases and dividends.

Headline financials

Revenue & EPS history

Corebridge is positioned for continued success in 2024, supported by our diversified business model, broad distribution platform, disciplined risk management, strategic investment partnerships and financial flexibility. We remain focused on creating long-term value for shareholders, evidenced by the announced sales of our international operations, and are confident in our ability to deliver attractive levels of capital return. We will continue to look across our portfolio to allocate resources where the available risk-adjusted returns are highest and where customer needs are greatest.