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CRBG-News
CRBG-Events
Company Reports Q2 Revenue of $4.30B, Below Expectations
Reports Q2 revenue $4.30B, consensus $4.60B. Reports book value per common share $22.79 vs. $22.58 last quarter. Reports adjusted book value per common share $39.93 vs. $39.70 last quarter. The company said, "We are pleased with our performance in the second quarter, having executed across the organization to deliver strong earnings, resilient sales, and consistent cash generation. Operationally, we continue to advance our commitment to becoming the easiest company to do business with-a strategy that is foundational to our customer success. Regarding our merger with Equitable, we have reached a pivotal milestone with shareholder approval. We are now focused on the roadmap to final execution, having further refined our combined leadership to ensure we have the right team to win. We are more confident than ever that this merger will create a combined company with the right attributes to drive profitable growth and create significant shareholder value.'
Corebridge and Equitable Merger Approved by Shareholders
Corebridge Financial (CBRG) and Equitable Holdings, Inc. (EQH) announced that the stockholders of both companies voted to approve the previously announced merger between the two companies at their respective special meetings of stockholders held earlier today. Based on preliminary vote counts, approximately 99.96% of Corebridge and 97.24% of Equitable stockholder votes cast were in favor of the proposed merger, representing approximately 82.14% and 85.84% of outstanding shares, respectively. The transaction remains subject to regulatory approval and the satisfaction of other customary closing conditions and is expected to close by year-end 2026.
Corebridge Financial Adds Protected Growth Benefit to Index Annuities
Corebridge Financial announced the addition of Protected Growth Benefit and preset allocation options to select versions of The Power Series of Index Annuities, enhancing the accumulation and diversification capabilities of the company's index annuity lineup.
Corebridge Financial Enhances Max Accumulator+ III Insurance Product
Corebridge Financial announced enhancements to its Max Accumulator+ III index universal life insurance product, including new index strategies, as well as changes designed to improve cash value outcomes. These updates are intended to give customers more diversification in how they allocate and build policy value over time and strengthen long-term growth potential. Corebridge has added two new index interest crediting strategies to Max Accumulator+ III-Nasdaq-100 providing exposure to technology and growth-oriented companies, and S&P 500 High Bonus offering a bonus feature designed to support accumulation in varying market conditions. Max Accumulator+ III now offers five index crediting strategies to achieve greater diversification across market exposures and meet a wider range of customer needs, while maintaining the product's built-in protections from market loss.
Baltimore City Public Schools Selects Corebridge as Sole Provider for Retirement Plans
Baltimore City Public Schools has selected Corebridge Financial as the sole provider for its supplemental retirement savings plans. By consolidating from 12 providers to Corebridge exclusively, City Schools is able to reduce fees for its PK-12 workforce. "Our longstanding relationship with Baltimore City Public Schools has given us a deep understanding of the needs of their educators and staff, and we take that responsibility seriously," said Terri Fiedler, President of Retirement Services at Corebridge. "By transitioning to a more streamlined, participant-focused model, City Schools is positioning its retirement program for the future, and we're proud to support that vision with our extensive experience serving K-12 school systems and proven ability to manage large-scale consolidations."
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