Corebridge Financial, Inc. - CRBG STOCK NEWS

Corebridge Financial (NYSE:CRBG) has launched new hedged equity funds within its Advanced Outcomes Annuity, enhancing its structured outcome investments. Managed by Milliman Financial Risk Management and sub-advised by Capital Group, these funds aim to provide higher growth potential while offering downside protection. Recent research indicates 40% of financial professionals are increasingly seeking structured solutions amid market volatility. The new funds include the Milliman-Capital Group Hedged U.S. Growth Fund and the Milliman-Capital Group Hedged U.S. Income and Growth Fund, featuring a Capture-Reset-Reinvest strategy that allows for investment gain capture and reinvestment opportunities.

Corebridge Financial reported its Q4 2022 results, showing a net loss of $566 million or $0.87 per share, influenced by $1.2 billion in realized losses related to derivatives and foreign exchange. Despite this, adjusted operating income was $574 million, with operating EPS at $0.88. Premiums and deposits grew 14% year-over-year to $8.7 billion, while base portfolio income from insurance operations rose 19%. The company maintained a strong balance sheet and declared a quarterly dividend of $0.23 per share, signaling ongoing commitment to capital management.

Corebridge Financial, Inc. (NYSE: CRBG) has appointed Lisa Longino as Chief Investment Officer, effective immediately. Reporting to Kevin Hogan, CEO, Longino brings over 30 years of investment experience, including previous roles at Prudential Financial and MetLife. She aims to enhance economic returns while managing risks within the company's investment portfolio, which comprises over $345 billion in assets under management and administration as of September 30, 2022. This leadership change reflects Corebridge's commitment to maintaining a high-quality asset portfolio.

Corebridge Financial, Inc. (NYSE: CRBG) will release its fourth quarter and full year 2022 financial results before the market opens on February 17, 2023. A conference call will follow at 8:30 a.m. EST to discuss these results. Corebridge, with over $345 billion in assets under management as of September 30, 2022, is a leading provider of retirement solutions and insurance products in the U.S. The press release and financial supplement will be available in the Investors section of their website.

Corebridge Financial has launched the Dimensional US Foundations Index for its Power Series of Index Annuities, developed in partnership with Dimensional Fund Advisors. The Index emphasizes diversified exposure to small-cap, value, and high profitability stocks, aiming for higher returns while maintaining manageable volatility. Utilizing Salt Financial's truVol Risk Control Engine, this new index enhances investment strategies for retirement saving by offering greater flexibility. The initiative reflects Corebridge's commitment to innovative retirement solutions as part of a $345 billion asset management framework.

DPL Financial Partners has announced the integration of Corebridge Financial into its carrier lineup, introducing two commission-free annuity products tailored for fee-only advisors. Corebridge, a leader in retirement solutions, provides the Assured Edge® Advisory fixed annuity and the Power Index Advisory® index annuity, aimed at mitigating retirement risks and enhancing portfolio protection. This partnership allows RIAs to access innovative retirement-focused solutions, fostering improved client outcomes. Corebridge, managing over $345 billion in assets, emphasizes a commitment to supporting financial advisors in building secure financial futures.

Corebridge Financial and EVERFI have conducted a survey involving over 16,000 college students, revealing heightened financial anxiety among students. Key findings indicate that 57% are worried about post-graduation employment and 44% about student loans. Confidence in timely loan repayments has dropped to 69%, while 45% expect family support post-graduation. In credit card management, 83% reported on-time payments. The survey, representative of 371 institutions from 42 states, aims to highlight financial concerns facing students today.

Corebridge Financial, Inc. reported Q3 financial results following its IPO on September 15, 2022, trading under ticker CRBG. Net income surged to $2.4 billion ($3.63 per share), reflecting strong premiums and deposits of $8.8 billion, marking a 23% year-over-year growth. However, operating earnings per share fell to $0.57 from $1.02 a year ago. Despite a 51% decline in adjusted pre-tax operating income, the company noted improved investment spreads and a solid balance sheet. A quarterly dividend of $0.23 per share was declared, with continued focus on growth and capital return strategies.

AIG reported strong financial results for Q3 2022, with a net income of $2.7 billion ($3.50 per diluted share), up from $1.7 billion in Q3 2021. The company successfully completed the IPO of Corebridge Financial, generating approximately $1.7 billion. General Insurance shows a combined ratio improvement to 97.3%, and Life and Retirement saw sales rise to $8.9 billion, a 23% increase year-over-year. However, adjusted after-tax income decreased to $0.66 per share due to lower investment income, reflecting challenging economic conditions.