
(in millions)	Individual Retirement		Group Retirement		Life Insurance		Institutional Markets		Corporate & Other		Eliminations		Total Corebridge		Adjustments		Total Consolidated
Year Ended December 31, 2022
Premiums	$	235	$	19	$	1,864	$	2,913	$	82	$	—	$	5,113	$	(22)	$	5,091
Policy fees	741		415		1,564		194		—		—		2,914		—		2,914
Net investment income(a)	3,888		2,000		1,389		1,049		473		(41)		8,758		818		9,576
Net realized gains (losses)(a)(b)	—		—		—		—		170		—		170		5,921		6,091
Advisory fee and other income	451		305		121		2		121		—		1,000		25		1,025
Total adjusted revenues	5,315		2,739		4,938		4,158		846		(41)		17,955		6,742		24,697
Policyholder benefits	285		35		3,010		3,404		—		—		6,734		(14)		6,720
Change in the fair value of market risk benefits, net	—		—		—		—		—		—		—		(958)		(958)
Interest credited to policyholder account balances	1,916		1,147		342		320		—		—		3,725		7		3,732
Amortization of deferred policy acquisition costs	523		80		410		7		—		—		1,020		—		1,020
Non-deferrable insurance commissions	351		123		72		20		2		—		568		—		568
Advisory fee expenses	141		124		1		—		—		—		266		—		266
General operating expenses	426		447		656		73		384		(2)		1,984		339		2,323
Interest expense	—		—		—		—		535		(51)		484		50		534

Net (gain) loss on divestitures	—		—		—		—		—		—		—		1		1

Total benefits and expenses	3,642		1,956		4,491		3,824		921		(53)		14,781		(575)		14,206
Noncontrolling interests	—		—		—		—		(320)		—		(320)
Adjusted pre-tax operating income (loss)	$	1,673	$	783	$	447	$	334	$	(395)	$	12	$	2,854
Adjustments to:
Total revenue													6,742
Total expenses													(575)
Noncontrolling interests													320
Income before income tax (benefit)													$	10,491			$	10,491

Year Ended December 31, 2021
Premiums	$	195	$	22	$	1,586	$	3,774	$	86	$	—	$	5,663	$	(10)	$	5,653
Policy fees	797		480		1,541		187		—		—		3,005		—		3,005
Net investment income(a)	4,334		2,413		1,621		1,155		443		(49)		9,917		1,755		11,672
Net realized gains (losses)(a)(b)	—		—		—		—		701		—		701		1,051		1,752
Advisory fee and other income	592		337		110		2		134		—		1,175		—		1,175
Total adjusted revenues	5,918		3,252		4,858		5,118		1,364		(49)		20,461		2,796		23,257
Policyholder benefits	317		31		2,842		4,183		—		—		7,373		14		7,387
Change in the fair value of market risk benefits, net	—		—		—		—		—		—		—		(447)		(447)
Interest credited to policyholder account balances	1,793		1,159		354		274		—		—		3,580		(18)		3,562
Amortization of deferred policy acquisition costs	451		78		416		6		—		—		951		—		951
Non-deferrable insurance commissions	396		122		80		22		3		—		623		—		623
Advisory fee expenses	189		133		—		—		—		—		322		—		322
General operating expenses	437		445		682		77		375		—		2,016		88		2,104
Interest expense	46		35		25		9		286		(47)		354		35		389
Loss on extinguishment of debt	—		—		—		—		—		—		—		219		219
Net (gain) loss on divestitures	—		—		—		—		—		—		—		(3,081)		(3,081)
Net (gain) loss on Fortitude Re transactions	—		—		—		—		—		—		—		(26)		(26)
Total benefits and expenses	3,629		2,003		4,399		4,571		664		(47)		15,219		(3,216)		12,003
Noncontrolling interests	—		—		—		—		(861)		—		(861)
Adjusted pre-tax operating income (loss)	$	2,289	$	1,249	$	459	$	547	$	(161)	$	(2)	$	4,381
Adjustments to:
Total revenue													2,796
Total expenses													(3,216)
Noncontrolling interests													861
Income before income tax (benefit)													$	11,254			$	11,254


(in millions)	Individual Retirement		Group Retirement		Life Insurance		Institutional Markets		Corporate & Other		Eliminations		Total Corebridge		Adjustments		Total Consolidated
Year Ended December 31, 2020
Premiums	$	151	$	19	$	1,526	$	2,564	$	74	$	—	$	4,334	$	7	$	4,341
Policy fees	861		443		1,384		186		—		—		2,874		—		2,874
Net investment income(a)	4,105		2,213		1,532		931		346		(43)		9,084		1,432		10,516
Net realized gains (losses)(a)(b)	—		—		—		—		54		—		54		(3,795)		(3,741)
Advisory fee and other income	571		272		94		1		122		—		1,060		12		1,072
Total adjusted revenues	5,688		2,947		4,536		3,682		596		(43)		17,406		(2,344)		15,062
Policyholder benefits	411		74		3,219		2,886		—		—		6,590		12		6,602
Interest credited to policyholder account balances	1,751		1,125		373		303		—		—		3,552		(24)		3,528
Amortization of deferred policy acquisition costs	556		15		25		5		—		—		601		(58)		543
Non-deferrable insurance commissions	334		117		119		31		3		—		604		—		604
Advisory fee expenses	205		111		—		—		—		—		316		—		316
General operating expenses	427		488		624		79		309		(7)		1,920		107		2,027
Interest expense	62		42		30		11		324		(34)		435		55		490
Loss on extinguishment of debt	—		—		—		—		—		—		—		10		10

Net (gain) loss on Fortitude Re transactions	—		—		—		—		—		—		—		91		91
Total benefits and expenses	3,746		1,972		4,390		3,315		636		(41)		14,018		193		14,211
Noncontrolling interests	—		—		—		—		(194)		—		(194)
Adjusted pre-tax operating income (loss)	$	1,942	$	975	$	146	$	367	$	(234)	$	(2)	$	3,194
Adjustments to:
Total revenue													(2,344)
Total expenses													193
Noncontrolling interests													194
Income before income tax (benefit)													$	851			$	851