WASHINGTON (dpa-AFX) - Corebridge Financial Inc. (CRBG) on Tuesday reported a significantly narrower net loss for the second quarter.
The insurer posted a net loss available to common shareholders of $16 million, or $0.04 per share, compared with a loss of $660 million, or $1.20 per share, a year earlier. The improvement primarily reflected lower realized losses, partly offset by unfavorable changes in the fair value of market risk benefits and higher interest credited to policyholder account balances.
Adjusted after-tax operating income available to common shareholders declined to $512 million, or $1.12 per share, from $672 million, or $1.22 per share, last year.
Core sources of income increased 5% to $1.568 billion, driven by higher fee income and base spread income, while premiums and deposits declined 13% to $9.066 billion, primarily due to lower fixed and fixed indexed annuity sales, partly offset by higher guaranteed investment contract issuances.
The board also declared a quarterly dividend of $0.25 per share, payable on September 30, 2026, to shareholders of record on September 16, 2026.
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