Corebridge Financial Q1 net loss narrows

Corebridge Financial

04/05/2026 21:34

Overview

US retirement solutions provider reported Q1 net loss narrowed to $53 mln from prior year

Adjusted after-tax operating income was $501 mln; premiums and deposits fell 10% yr/yr

Company returned $1.4 bln to shareholders, including $1.3 bln in share repurchases

Outlook

Company did not provide specific financial guidance for the current or future periods in the press release

Result Drivers

REALIZED GAINS - Net loss narrowed mainly due to realized gains on Fortitude Re funds withheld embedded derivative versus realized losses in prior year

LOWER SPREAD INCOME - APTOI decreased primarily due to lower spread income and lower underwriting gains, partially offset by higher fee income

PREMIUMS AND DEPOSITS DECLINE - 10% drop in premiums and deposits, mainly due to lower fixed annuity sales, partially offset by higher fixed index annuity and RILA deposits

Company press release: ID:nBw9VXCpBa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.11
Q1 Net Income
-$53 mln


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 $35.00, about 27.2% above its May 1 closing price of $27.52

The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago

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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.)