Corebridge Financial posts Q3 net income on rise in premiums, deposits

Corebridge Financial

03/11/2025 21:41

Overview

Corebridge Q3 net income of $144 mln, reversing a loss from prior year

Adjusted after-tax operating income fell 28% due to actuarial updates

Premiums and deposits rose 34% yr/yr, driven by annuity deposits

Outlook

Corebridge Financial did not provide specific financial guidance for the upcoming quarter or year

Result Drivers

PREMIUMS AND DEPOSITS - Premiums and deposits increased 34% yr/yr, driven by growth in fixed index annuity and RILA deposits

ACTUARIAL ASSUMPTION UPDATE - Annual actuarial assumption update decreased APTOI by $98 mln in current qtr

VA REINSURANCE TRANSACTION - VA reinsurance transaction enhanced company's position by simplifying operations and reducing risk

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.27
Q3 Net Income
$144 mln
Q3 Dividend
$0.24


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the life & health insurance peer group is "buy"

Wall Street's median 12-month price target for Corebridge Financial Inc is $39.00, about 16.5% above its October 31 closing price of $32.56

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nBw9BDkgha

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)