**Corebridge Financial Reports Third Quarter 2025 Results**
Corebridge Financial, Inc. (NYSE: CRBG) today filed its quarterly report on Form 10-Q for the period ended September 30, 2025, reporting a net income attributable to Corebridge of $144 million, or $0.27 per diluted share, compared to a net loss of $1.184 billion, or $2.02 per diluted share, for the same period in 2024. Total revenues for the quarter were $5.416 billion, a significant increase from $2.599 billion in the prior year, driven primarily by higher premiums and net investment income. The company's total assets reached $411.294 billion as of September 30, 2025, compared to $389.397 billion at the end of 2024.
The company's financial performance for the nine months ended September 30, 2025, showed a net loss attributable to Corebridge of $1.180 billion, or $2.15 per diluted share, compared to a net income of $59 million, or $0.10 per diluted share, for the same period in 2024. Total revenues for the nine-month period were $11.714 billion, down from $12.107 billion in the prior year. The decrease in net income was primarily due to higher net realized losses and increased interest credited to policyholder account balances.
A significant strategic development during the quarter was the completion of the coinsurance and modified coinsurance agreement between American General Life Insurance Company (AGL) and Corporate Solutions Life Reinsurance Company (CSLR) on August 1, 2025, reinsuring 100% of AGL's individual variable annuity contracts. The closing with respect to the USL Reinsurance Agreement is expected to occur in the fourth quarter of 2025 and the sale of SAAMCo is expected to occur in the first quarter of 2026. This transaction led to a retrospective change in segment reporting, with the individual variable annuity business now included within Corporate and Other.
Key operational developments included the ongoing management of assets under management and administration (AUMA), which totaled $380.336 billion as of September 30, 2025. The company continues to manage its investment portfolio, with approximately 94% of fixed maturity securities rated investment grade. Corebridge is also actively managing its liquidity and capital resources, with $4.830 billion in liquidity sources available to Corebridge Parent and intermediate holding companies. The company's outlook remains subject to various market risks, including changes in interest rates, economic conditions, and geopolitical tensions, as well as regulatory and legal proceedings.
About Corebridge Financial, Inc.
Corebridge Financial is a diversified provider of retirement solutions, life insurance, and annuity products in the U.S. market. It offers a broad range of products including term, universal, fixed, index-linked, and variable annuities, serving mass affluent to high net worth clients. The company leverages extensive distribution channels, strategic partnerships, and disciplined risk management to deliver stable cash flows and competitive returns.
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