Corebridge Financial Q2 Net Loss Narrows
Corebridge Financial released results for the latest quarter showing a significantly smaller net loss, reflecting ongoing risk management and shifts in its income mix. The company reported 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 came mainly from lower realized losses, offset in part by less favorable changes in the fair value of market risk benefits and higher interest credited to policyholder balances.
Adjusted after-tax operating income available to common shareholders stood at $512 million, or $1.12 per share, down from $672 million, or $1.22 per share, in the year-ago period. The drop in adjusted earnings was due in part to the mix of income sources and changes in liability valuations, even as overall profitability remained supported by core activities.
Core sources of income rose 5% to $1.568 billion, propelled by stronger fee income and base spread income. In contrast, premiums and deposits declined 13% to $9.066 billion, largely as a result of softer sales of fixed and fixed-indexed annuities. The decrease was partly offset by an uptick in guaranteed investment contract issuances, which helped cushion overall revenue generation.
In addition to the quarterly results, the board approved a dividend of $0.25 per share, to be paid on September 30, 2026, to shareholders of record as of September 16, 2026.
