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1. Company Snapshot

1.a. Company Description

Corebridge Financial, Inc.provides retirement solutions and insurance products in the United States.It operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments.


The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities and retail mutual funds.The Group Retirement segment offers record-keeping services, plan administration and compliance services, and financial planning and advisory solutions to employer-defined contribution plans and their participants, as well as proprietary and non-proprietary annuities, advisory services, and brokerage products.The Life Insurance segment offers term life and universal life insurance in the United States, as well as issues individual life, whole life, and group life insurance in the United Kingdom; and distributes medical insurance in Ireland.


The Institutional Markets segment provides stable value wraps, structured settlement and pension risk transfer annuities, corporate and bank owned life insurance, high net worth products, and guaranteed investment contracts.The company was formerly known as SAFG Retirement Services, Inc.Corebridge Financial, Inc.


was incorporated in 1998 and is headquartered in Houston, Texas.Corebridge Financial, Inc.operates as a subsidiary of American International Group, Inc.

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1.b. Last Insights on CRBG

Breaking News: Corebridge Financial Inc reported no recent earnings release on the provided date. However, a head-to-head analysis with Legal & General Group was released on March 4, 2026. No specific earnings data was mentioned. Analyst recommendations for Corebridge Financial were not detailed. A recent development shows that Corebridge Financial is being compared to Legal & General Group based on earnings, risk, and other factors. Analysts from various firms have not given any recent buy, hold, or sell recommendations for Corebridge Financial.

1.c. Company Highlights

2. Corebridge Financial Delivers Strong 2025 Performance

Corebridge Financial reported a robust 2025 performance, with earnings per share (EPS) of $1.22, beating analyst estimates of $1.11. The company's adjusted pretax operating income reached $760 million, representing a 15% year-over-year increase. Sales surged 4% to a record $42 billion, driven by strong growth in institutional markets, which grew 24% overall. The company's diversified business model and vast distribution network provided stability to its financial results.

Publication Date: Feb -18

📋 Highlights
  • Strong Earnings Growth: Earnings per share increased by 4% YoY, with return on average equity up 20 basis points and capital returned to shareholders rising 13%.
  • Record Sales Performance: Total sales reached $42 billion (up 4%) driven by 24% growth in institutional markets, including successful RILA product launch (Market Lock).
  • Capital Return & Liquidity: Full-year capital return totaled $2.6 billion, with $1.2 billion in Q4 alone, and holding company liquidity exceeding $2.3 billion by year-end.
  • Business Diversification: Institutional markets grew 24% in 2025, while Group Retirement is transitioning from spread-based to fee-based revenue, expecting a trough in revenue within 12-24 months.
  • Strategic Investment Plans: $60 million allocated for 2026 incremental investment spending, alongside $55 billion in 2025 asset origination (1/3 internal, 1/3 BlackRock, 1/3 Blackstone) to drive growth.

Revenue Growth and Segment Performance

The institutional management business was a key driver of growth, with a 24% increase in 2025. The company's Individual Retirement business also performed well, with positive net sales for the full year. The Group Retirement business is in transition from a spread business to a fee business, with expectations to hit the trough in revenue in 12 to 24 months. As Marc Costantini noted, "We have a distribution powerhouse and are building a platform to be the easiest company to do business with."

Valuation and Dividend Yield

Corebridge Financial's Price-to-Book Ratio stands at 1.2, indicating a relatively stable valuation. The Dividend Yield is 3.11%, providing a decent return for investors. With analysts estimating revenue growth at 5.4% for the next year, the company's prospects appear promising.

Outlook and Guidance

Corebridge Financial expects to grow its total sources of income in 2026, driven by favorable demographic trends and industry-leading distribution. The company anticipates base spread compression in Individual Retirement to level off by the end of 2026 and alternative investment returns to be in line with long-term expectations. With a commitment to managing its capital profile and leveraging its business, Corebridge Financial is well-positioned for future growth.

3. NewsRoom

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Head-To-Head Analysis: Legal & General Group (OTCMKTS:LGGNY) vs. Corebridge Financial (NYSE:CRBG)

Mar -04

Source: defenseworld.net

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Novo Nordisk, First Solar, And Corebridge Financial Are Among Top 10 Large Cap Losers Last Week (Feb. 23-Feb. 27): Are the Others in Your Portfolio?

Mar -01

Source: feeds.benzinga.com

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Artisan Partners Limited Partnership Lowers Stake in Corebridge Financial, Inc. $CRBG

Feb -28

Source: defenseworld.net

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Aster Capital Management DIFC Ltd Purchases Shares of 18,343 Corebridge Financial, Inc. $CRBG

Feb -27

Source: defenseworld.net

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Market Today: AI Fears Rattle Stocks; CPI Cools, Rivian Pops

Feb -13

Source: gurufocus.com

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First Look: Tech-led selloff, tariff shifts, AI funding boom

Feb -13

Source: gurufocus.com

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Corebridge: Aggressive Buybacks Set To Continue

Feb -11

Source: seekingalpha.com

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Corebridge Financial, Inc. (CRBG) Q4 2025 Earnings Call Transcript

Feb -10

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.92%)

6. Segments

Institutional Markets

Expected Growth: 6.5%

Corebridge Financial, Inc.'s Institutional Markets segment growth of 6.5% is driven by increasing demand for retirement solutions, expansion of distribution channels, and strategic partnerships. Additionally, the segment benefits from a strong brand reputation, diversified product offerings, and a growing presence in the pension risk transfer market.

Individual Retirement

Expected Growth: 6.8%

Corebridge Financial, Inc.'s Individual Retirement segment growth of 6.8% is driven by increasing demand for retirement savings, favorable demographics, and a growing need for income security. Additionally, the company's diversified product offerings, strong distribution channels, and effective marketing strategies contribute to its growth momentum.

Life Insurance

Expected Growth: 6.2%

Corebridge Financial, Inc.'s 6.2% growth in Life Insurance is driven by increasing demand for protection products, expansion into underserved markets, and strategic partnerships. Additionally, the company's diversified distribution channels, including independent agents and online platforms, contribute to its growth. Furthermore, the rising awareness of the importance of life insurance among millennials and Gen Z populations also fuels the segment's expansion.

Group Retirement

Expected Growth: 6.9%

Corebridge Financial's Group Retirement segment growth of 6.9% is driven by increasing demand for retirement plans, expansion of distribution channels, and strategic partnerships. Additionally, the rise of auto-enrollment and Roth 401(k) conversions, as well as the growing need for retirement income solutions, contribute to the segment's growth.

Adjustments

Expected Growth: 0.0%

With 0.0% growth, Corebridge Financial, Inc.'s adjustments are stagnant, indicating no significant changes in market share, pricing, or operating efficiency. This may be due to intense competition, lack of innovation, or ineffective cost management. The company's focus should be on identifying areas for improvement and implementing strategies to drive growth.

Corporate & Other Segment

Expected Growth: 7.2%

The 7.2% growth in Corporate & Other Segment of Corebridge Financial, Inc. is driven by increasing demand for retirement solutions, expansion of distribution channels, and strategic investments in digital capabilities. Additionally, the segment benefits from a low interest rate environment, leading to higher fee income and a growing annuity business.

Eliminations

Expected Growth: 0.0%

With 0.0% growth, Eliminations from Corebridge Financial, Inc. indicates a neutral impact on the company's financial performance. This is likely driven by the absence of significant intersegment transactions, minimal consolidation adjustments, and a stable organizational structure, resulting in no material eliminations affecting the company's overall financial results.

7. Detailed Products

Term Life Insurance

Provides temporary life insurance coverage for a specified period of time, typically 10, 20, or 30 years.

Permanent Life Insurance

Offers lifetime coverage and a cash value component that grows over time.

Universal Life Insurance

Combines a death benefit with a savings component that earns interest, allowing for flexible premiums and adjustable coverage.

Indexed Universal Life Insurance

A type of universal life insurance that earns interest based on the performance of a specific stock market index.

Variable Universal Life Insurance

A type of universal life insurance that allows investments in a variety of investments, such as mutual funds.

Annuities

A contract that provides a guaranteed income stream for a set period or for life in exchange for a lump sum or series of payments.

Retirement Plans

Offers a range of retirement plans, including 401(k), IRA, and pension plans.

8. Corebridge Financial, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Corebridge Financial, Inc. operates in a highly competitive industry, and there are many substitutes available to customers. However, the company's strong brand recognition and customer loyalty help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Corebridge Financial, Inc. has a large customer base, and customers have significant bargaining power due to the availability of substitutes. The company needs to focus on customer retention and satisfaction to maintain its market share.

Bargaining Power Of Suppliers

Corebridge Financial, Inc. has a diversified supplier base, and suppliers have limited bargaining power. The company has a strong negotiating position, which helps to keep costs under control.

Threat Of New Entrants

The financial services industry has high barriers to entry, and new entrants face significant regulatory and capital requirements. However, the rise of fintech companies and digital platforms has increased the threat of new entrants.

Intensity Of Rivalry

The financial services industry is highly competitive, and Corebridge Financial, Inc. faces intense rivalry from established players and new entrants. The company needs to focus on differentiating itself through its products and services to maintain its market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 50.22%
Debt Cost 4.42%
Equity Weight 49.78%
Equity Cost 7.29%
WACC 5.85%
Leverage 100.90%

11. Quality Control: Corebridge Financial, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Hercules Capital

A-Score: 7.1/10

Value: 5.7

Growth: 3.4

Quality: 8.8

Yield: 10.0

Momentum: 5.0

Volatility: 9.7

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Main Street Capital

A-Score: 7.1/10

Value: 4.6

Growth: 5.9

Quality: 6.7

Yield: 9.0

Momentum: 7.0

Volatility: 9.3

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Golub Capital BDC

A-Score: 7.0/10

Value: 6.4

Growth: 6.0

Quality: 6.6

Yield: 10.0

Momentum: 3.0

Volatility: 10.0

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Ares Capital

A-Score: 7.0/10

Value: 5.9

Growth: 4.7

Quality: 7.3

Yield: 10.0

Momentum: 4.0

Volatility: 10.0

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Victory Capital Holdings

A-Score: 6.3/10

Value: 5.8

Growth: 6.7

Quality: 7.8

Yield: 6.0

Momentum: 5.0

Volatility: 6.7

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Corebridge Financial

A-Score: 6.1/10

Value: 7.5

Growth: 4.6

Quality: 5.8

Yield: 8.0

Momentum: 4.0

Volatility: 6.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

26.47$

Current Price

26.47$

Potential

-0.00%

Expected Cash-Flows