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Sep 30, 2024
Corebridge Q3 2024 Earnings Report
Corebridge's Q3 2024 results were announced, revealing a net loss alongside growth in operating earnings per share and shareholder returns.
Key Takeaways
Corebridge Financial reported a net loss of $1.2 billion, primarily due to realized losses from the Fortitude Re funds withheld embedded derivative. However, the company grew operating earnings per share by 31% year over year to $1.38 and returned $848 million to shareholders through dividends and share repurchases. Premiums and deposits increased by 5% to $9.6 billion.
Net loss of $1.2 billion, or $2.02 per share, largely a result of realized losses primarily driven by the Fortitude Re funds withheld embedded derivative.
Adjusted after-tax operating income of $810 million and operating EPS of $1.38 per share.
Premiums and deposits of $9.6 billion, a 5% increase year-over-year.
Returned $848 million to shareholders, including $715 million of share repurchases.
Corebridge
Corebridge
Corebridge Revenue by Segment
Revenue by Segment
Individual Retirement Revenue
CapyFin.comGroup Retirement Revenue
CapyFin.comLife Insurance Revenue
CapyFin.comInstitutional Markets Revenue
CapyFin.com Forward Guidance
Corebridge remains focused on executing its strategies to create shareholder value and remains confident in the growth opportunities available to our four market-leading businesses as well as our ability to generate attractive returns across multiple market environments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income