Revenue
Cost
Profit
| Item | Category | Value | YoY |
|---|---|---|---|
| Total revenue | revenue | 18.48B | -1.21% |
| Total benefits and expenses | cost | 19.02B | 19.61% |
| Policyholder benefits (includes remeasurement losses of $467, $403 and $342 for the years ended december 31, 2025, 2024 and 2023, respectively) | cost | 8.17B | 23.24% |
| Interest credited to policyholder account balances | cost | 5.93B | 13.23% |
| General operating expenses | cost | 2.00B | -0.69% |
| Amortization of deferred policy acquisition costs and value of business acquired | cost | 1.05B | -0.94% |
| Non-deferrable insurance commissions | cost | 553.00M | -5.95% |
| Interest expense | cost | 552.00M | -0.36% |
| Market risk benefit, change in fair value, gain (loss) | revenue | 484.00M | 113.22% |
| Advisory fee expenses | cost | 275.00M | -3.85% |
| Segment | Value | YoY |
|---|---|---|
| Institutional Markets | 7.03B | 34.60% |
| Individual Retirement | 6.42B | 10.97% |
| Life Insurance Operating | 4.23B | -2.69% |
| Group Retirement | 2.69B | -0.99% |
| Corporate Segment and Other Operating | 83.00M | -41.96% |
| Segment | Value | YoY |
|---|---|---|
| North America | 18.48B | -0.62% |
| Item | Category | Value | YoY |
|---|---|---|---|
| Bonds available-for-sale | assets | 189.38B | 10.85% |
| Mortgage and other loans receivable, net of allowance for credit losses of $727 in 2025 and $771 in 2024 | assets | 54.48B | 3.25% |
| Other investments | assets | 10.23B | 3.90% |
| Short-term investments, including restricted cash of $4 in 2025 and $4 in 2024 (portion measured at fair value: 2025 - $1,624; 2024 - $1,439) | assets | 5.67B | 13.93% |
| Other bond securities, at fair value | assets | 5.41B | 2.76% |
| Equity securities | assets | 79.00M | 41.07% |
| Total investments | assets | 265.26B | 8.82% |
| Separate account assets, at fair value | assets | 95.58B | 1.81% |
| Reinsurance assets, net of allowance for credit losses and disputes | assets | 24.14B | -3.18% |
| Deferred policy acquisition costs and value of business acquired | assets | 8.88B | -13.68% |
| Current and deferred income taxes | assets | 7.47B | -5.52% |
| Other assets | assets | 4.43B | 117.19% |
| Market risk benefit assets, at fair value | assets | 2.39B | 79.58% |
| Accrued investment income | assets | 2.38B | 9.68% |
| Premiums and other receivables, net of allowance for credit losses and disputes of $1 in 2025 and $1 in 2024 | assets | 648.00M | -9.12% |
| Cash | assets | 447.00M | -44.54% |
| Assets | assets | 413.55B | 6.20% |
| Total liabilities | liabilities | 399.59B | 5.97% |
| Total equity | liabilities | 13.96B | 13.26% |
| Policyholder contract deposit | liabilities | 188.88B | 8.74% |
| Separate account liabilities | liabilities | 95.58B | 1.81% |
| Future policy benefits for life and accident and health insurance contracts | liabilities | 60.97B | 8.35% |
| Total short-term and long-term debt, net of debt issuance costs | liabilities | 10.91B | -11.99% |
| Other liabilities | liabilities | 9.33B | 16.02% |
| Aggregate carrying amount in the consolidated balance sheets | liabilities | 7.31B | 30.15% |
| Fortitude re funds withheld payable (portion measured at fair value: 2025 - $3,795; 2024 - $2,223) | liabilities | 3.79B | 70.72% |
| Other policyholder funds | liabilities | 2.96B | 2.99% |
| Debt of consolidated investment entities | liabilities | 1.55B | -20.18% |
| Equity, attributable to noncontrolling interest | liabilities | 759.00M | -12.15% |
| Total corebridge shareholders' equity | equity | 13.20B | 15.17% |
| Accumulated other comprehensive loss | equity | 9.45B | -30.91% |
| Treasury stock, common, value | equity | 4.38B | 92.02% |
| Aggregate | equity | 27.04B | -1.42% |
| Retained earnings | equity | 18.37B | -4.59% |
| Additional paid-in capital | equity | 8.16B | 0.01% |
| Preferred stock and additional paid-in capital, $1 par value and $1,000 liquidation preference | equity | 493.00M | |
| Common stock, value, outstanding | equity | 7.00M | 0.00% |
| Item | Value |
|---|---|
| Total adjustments | 2.41B |
| Unrealized gain (loss) on investments | 1.17B |
| Gain (loss) on sale of debt securities, available for sale and other assets, net | 1.05B |
| Increase (decrease) in reinsurance assets, net | 1.02B |
| Change in the fair value of market risk benefits in earnings, net | 636.00M |
| Insurance liabilities | 630.00M |
| Depreciation and other amortization | 556.00M |
| Increase (decrease) in premiums and insurance balances receivable and payable, net | 174.00M |
| Impairment charges | 52.00M |
| Income (loss) from equity method investments, net of dividends or distributions | 10.00M |
| Current and deferred income taxes - net | -343.00M |
| Net income (loss) | -390.00M |
| Increase (decrease) in other operating assets and liabilities, net | -523.00M |
| Increase (decrease) in funds held under reinsurance agreements | -644.00M |
| Increase (decrease) in deferred policy acquisition costs | -1.38B |
| Item | Value |
|---|---|
| Maturities of fixed maturity securities available-for-sale | 19.31B |
| Available-for-sale securities | 13.69B |
| Principal payments received on mortgage and other loans receivable | 9.02B |
| Other securities | 3.89B |
| Other invested assets | 1.76B |
| Payment for (proceeds from) other investing activity | 17.00M |
| Payments for (proceeds from) short-term investments | -404.00M |
| Payments for (proceeds from) derivative instrument, investing activities | -820.00M |
| Payments to acquire other investments | -1.50B |
| Payment for acquisition, trading security, held-for-investment | -3.87B |
| Payments to acquire mortgage notes receivable | -9.98B |
| Payments to acquire debt securities, available-for-sale | -44.45B |
| Item | Value |
|---|---|
| Policyholder contract deposits | 40.45B |
| Net change in securities lending and repurchase agreements | 1.47B |
| Issuance of preferred stock | 493.00M |
| Issuance of long-term debt | 153.00M |
| Contributions from noncontrolling interests | 51.00M |
| Payments to noncontrolling interests | -132.00M |
| Payments of ordinary dividends, common stock | -511.00M |
| Repayments of long-term debt | -566.00M |
| Other, net | -599.00M |
| Repayments of short-term debt | -1.10B |
| Payments for repurchase of common stock | -2.12B |
| Withdrawal from contract holders funds | -26.65B |
| Item | Value |
|---|---|
| Cash and cash equivalents, beginning of period | 824.00M |
| Cash and cash equivalents, end of period | 453.00M |
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