Corebridge Q2 adjusted operating income falls 24% yr/yr

Corebridge Financial

04/08/2026 21:38

Overview
US retirement solutions provider reported Q2 net loss of $16 mln, improved from prior year
Adjusted after-tax operating income for Q2 fell 24% yr/yr to $512 mln
Premiums and deposits declined 13% yr/yr, mainly on lower annuity sales

Outlook
Company did not provide specific financial guidance or quantitative outlook for future periods

Result Drivers
LOWER ANNUITY SALES - Co said premiums and deposits declined 13% yr/yr, mainly due to reduced fixed and fixed indexed annuity sales, partially offset by higher GIC issuances
HIGHER POLICYHOLDER BENEFITS AND INTEREST CREDITED - Co said adjusted pre-tax operating income fell 21% yr/yr, driven by higher policyholder benefits, interest credited to policyholder account balances and other expenses, partially offset by higher premiums and net investment income
INCREASED FEE AND BASE SPREAD INCOME - Co said core sources of income rose 5% yr/yr, largely due to higher fee and base spread income, partially offset by lower underwriting margin

Company press release: ID:nBww1Cpna

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.04
 
Q2 Net Loss
 
$16 mln
 
Q2 Dividend
 
$0.25
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "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 $36.00, about 15% above its August 3 closing price of $31.31
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 5 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.)