Corebridge Financial Inc.
Corebridge Financial Announces 2023 Financial Results
Summary
Corebridge Financial, Inc. reported a net loss of $1.3 billion for the fourth quarter of 2023, driven by realized losses for the Fortitude Re funds withheld embedded derivative, partially offset by higher net investment income. For the full year 2023, the company reported a net income of $1.1 billion. Premiums and deposits increased by 26% to $39.9 billion for the full year, and adjusted after-tax operating income increased by 12% to $2.6 billion. The company also returned $2.2 billion to shareholders in 2023 through share repurchases, dividends, and special dividends.
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About Corebridge Financial Inc.
Corebridge Financial Inc. is a prominent entity in the realm of insurance and financial services, primarily focused on providing tailored retirement solutions and insurance coverage. As a significant player in the financial markets, Corebridge Financial Inc. specializes in asset management and life insurance, supporting individuals and businesses in achieving financial security and resilience. The firm offers diverse retirement products, including annuities and retirement plans, aimed at ensuring stable income and wealth preservation for its clients. Operating across various sectors such as real estate, healthcare, and manufacturing, Corebridge Financial Inc. addresses the investment and insurance needs of a wide clientele. Its market significance is underscored by its commitment to delivering risk management services and long-term growth strategies, thereby contributing to economic resilience and personal financial planning.
Official SEC Documents