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Mar 31, 2024

Corebridge Q1 2024 Earnings Report

Corebridge Financial experienced a strong start to 2024, marked by increased operating earnings, strategic program completion, and significant shareholder returns.

Key Takeaways

Corebridge Financial reported a net income of $878 million and an adjusted after-tax operating income of $688 million for Q1 2024. The company completed its Corebridge Forward modernization program ahead of schedule and authorized a $2 billion increase to its share repurchase program.

Net income reached $878 million, translating to $1.41 per share.

Adjusted after-tax operating income stood at $688 million, with operating EPS at $1.10 per share.

Premiums and deposits totaled $10.6 billion.

The Board of Directors approved a $2 billion increase to the share repurchase program.

Total Revenue
$5.79B
Previous year: $5.36B
+7.9%
EPS
$1.1
Previous year: $0.97
+13.4%
Return on Average Equity
30.1%
Previous year: -17.5%
-272.0%
Adjusted Return on Average Equity
11.9%
Previous year: 10.8%
+10.2%
Dividends per share
$143M
Gross Profit
$5.79B
Previous year: $4.12B
+40.4%
Cash and Equivalents
$1.7B
Previous year: $524M
+224.4%
Total Assets
$386B
Previous year: $367B
+5.2%

Corebridge

Corebridge

Corebridge Revenue by Segment

Forward Guidance

Corebridge is focused on growing the business, serving customers and creating long-term value for shareholders.

Revenue & Expenses

Visualization of income flow from segment revenue to net income