AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Corebridge swung to a $2M net profit in Q2 2026 from a $668M net loss a year earlier, as net realized losses narrowed sharply to $554M from $1,975M even though total revenue rose 44% YoY to $3.9B.
Biggest Revenue Drivers
Net investment income$3.19B-4% YoY
Decline driven by lower alternative investment income and Fortitude Re funds withheld income, partly offset by higher fixed maturity securities yields.
Policy fees$624M-13% YoY
Biggest Revenue Drivers
Total revenue: $3.9B+44% YoY
Net investment income$3.19B-4% YoY
Decline driven by lower alternative investment income and Fortitude Re funds withheld income, partly offset by higher fixed maturity securities yields.
Policy fees$624M-13% YoY
Net realized losses-$554Mnarrowed from -$1,975M YoY
Losses narrowed as losses on sales of fixed maturity securities fell to $59M from $518M a year earlier.
Largest Expense Items
Interest credited to policyholder account balances$1.57B+6% YoY
Reflects growth in policyholder contract deposits and higher average crediting rates in Individual Retirement and Institutional Markets.
Policyholder benefits$1.12B+14% YoY
Includes $69M of unfavorable remeasurement (up from $59M), driven largely by growth in Institutional Markets benefit payments.
General operating expenses$466M-10% YoY
Includes restructuring and ongoing modernization initiative costs.
Change in fair value of market risk benefits, net$180Mswung from -$279M YoY
Swing driven by changes in equity markets and interest rates affecting guaranteed benefit liabilities.
Margins: Adjusted pre-tax operating income (APTOI) fell to $664M from $842M YoY as segment-level operating income declined across Individual Retirement, Group Retirement and Institutional Markets, while GAAP pre-tax income improved to $52M from a $608M loss mainly on smaller realized investment losses.
Watch Items from the Filing
Pending all-stock merger with Equitable Holdings, approved by both companies' shareholders on July 30, 2026, is expected to close by year-end 2026 pending regulatory approvals.
Effective tax rate was 96.2% for the quarter versus the 21% statutory rate, driven by a $1.7B federal valuation allowance that increased $92M this quarter.
Reinsurance assets from Fortitude Re totaled $23.6B, a significant counterparty concentration tied to legacy business ceded under modco arrangements.
California litigation alleges violations of life insurance lapse-notice statutes on policies lapsed since 2013, seeking civil penalties; trial is set for March 5, 2027.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Parris Colin J.DirectorGrant or award · Jun 18, 2026
About Corebridge Financial, Inc. (CRBD): stock profile, AI score and financials
Corebridge Financial, Inc. (CRBD) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores CRBD at 58.7/100 on a composite quality score built from its SEC filings, placing it at rank #983 of 2,925 stocks — the top half of the AI-ranked universe. CRBD scores in the top quartile across institutional flow (92.5), revenue scale (92.4), earnings quality (79.5). Areas of concern include balance sheet strength (35.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), Corebridge Financial, Inc. reports quarterly revenue of $3.9B, net income of $2.0M, an operating margin of 1.3%. Top institutional holders of CRBD by reported 13-F value include NIPPON LIFE INSURANCE, Blackstone, PZENA INVESTMENT MANAGEMENT, based on the most recent SEC filings. CRBD trades on the NYSE exchange and files with the SEC under CIK 1889539. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CRBD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Corebridge Financial, Inc. directly from SEC EDGAR.