Corebridge Financial Inc (CRBG) News & EventsCRBGCorebridge Financial Inc

Corebridge Financial Launches First-of-Its-Kind Progressive Trigger Index Annuity Strategy

Corebridge Financial announced the launch of Progressive Trigger, a first-of-its-kind index annuity interest-crediting strategy designed to help customers preserve future growth potential despite a down year. Many retirement savers understand that markets do not move in a straight line and that recoveries often take time. Progressive Trigger's built-in Memory feature is designed for this possibility, allowing eligible interest percentages to accumulate following periods of negative index performance. If the trigger condition is met later in the strategy's five-year term, the percentages retained in Memory are combined with the current year's percentage to determine the interest credit. Progressive Trigger is available exclusively through the Power Select Builder index annuity, which is distributed by Market Synergy Group. The new strategy complements the traditional performance-triggered option and other interest-crediting strategies also available in Power Select Builder.

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.