
(in millions)	Individual Retirement		Group Retirement		Life Insurance		Institutional Markets		Corporate & Other		Total Corebridge		Adjustments		Total Consolidated
Year Ended December 31, 2025
Premiums	$	100	$	10	$	1,466	$	4,260	$	—	$	5,836	$	28	$	5,864
Policy fees	310		441		1,443		206		—		2,400		333		2,733
Net investment income(a)	6,012		1,878		1,323		2,565		54		11,832		1,292		13,124
Net realized gains (losses)(a)(b)	—		—		—		—		(1)		(1)		(3,957)		(3,958)
Advisory fee and other income	—		361		2		3		30		396		322		718
Total adjusted revenues	6,422		2,690		4,234		7,034		83		20,463		(1,982)		18,481
Policyholder benefits	129		13		2,630		5,325		11		8,108		65		8,173
Change in the fair value of market risk benefits, net	—		—		—		—		—		—		484		484
Interest credited to policyholder account balances	3,384		1,208		325		998		—		5,915		18		5,933
Amortization of deferred policy acquisition costs	475		91		335		17		—		918		132		1,050
Non-deferrable insurance commissions	172		127		60		20		2		381		172		553
Advisory fee expenses	22		127		2		—		—		151		124		275
General operating expenses(c)	357		400		469		87		214		1,527		475		2,002
Interest expense	—		—		—		—		521		521		31		552



Total benefits and expenses	4,539		1,966		3,821		6,447		748		17,521		1,501		19,022
Noncontrolling interests	—		—		—		—		24		24
Adjusted pre-tax operating income (loss)	$	1,883	$	724	$	413	$	587	$	(641)	$	2,966
Adjustments to:
Total revenue											(1,982)
Total expenses											1,501
Noncontrolling interests											(24)
Income before income tax expense (benefit)											$	(541)			$	(541)

Year Ended December 31, 2024
Premiums	$	107	$	12	$	1,483	$	2,894	$	—	$	4,496	$	30	$	4,526
Policy fees	266		442		1,465		197		—		2,370		531		2,901
Net investment income(a)	5,413		1,920		1,321		2,127		11		10,792		1,436		12,228
Net realized gains (losses)(a)(b)	—		—		—		—		85		85		(1,968)		(1,883)
Advisory fee and other income	1		343		82		8		47		481		454		935
Total adjusted revenues	5,787		2,717		4,351		5,226		143		18,224		483		18,707
Policyholder benefits	99		13		2,681		3,821		—		6,614		18		6,632
Change in the fair value of market risk benefits, net	—		—		—		—		—		—		(227)		(227)
Interest credited to policyholder account balances	2,761		1,206		336		799		—		5,102		138		5,240
Amortization of deferred policy acquisition costs	405		85		344		13		—		847		213		1,060
Non-deferrable insurance commissions	132		120		58		20		2		332		256		588
Advisory fee expenses	18		134		2		—		—		154		132		286
General operating expenses	332		415		469		78		224		1,518		498		2,016
Interest expense	—		—		—		—		524		524		30		554

Net (gain) on divestitures	—		—		—		—		—		—		(245)		(245)
Total benefits and expenses	3,747		1,973		3,890		4,731		750		15,091		813		15,904
Noncontrolling interests	—		—		—		—		34		34
Adjusted pre-tax operating income (loss)	$	2,040	$	744	$	461	$	495	$	(573)	$	3,167
Adjustments to:
Total revenue											483
Total expenses											813
Noncontrolling interests											(34)
Income before income tax expense (benefit)											$	2,803			$	2,803


(in millions)	Individual Retirement		Group Retirement		Life Insurance		Institutional Markets		Corporate & Other		Total Corebridge		Adjustments		Total Consolidated
Year Ended December 31, 2023
Premiums	$	179	$	20	$	1,776	$	5,607	$	—	$	7,582	$	31	$	7,613
Policy fees	210		406		1,488		195		—		2,299		498		2,797
Net investment income(a)	4,605		1,996		1,282		1,586		67		9,536		1,542		11,078
Net realized gains (losses)(a)(b)	—		—		—		—		(2)		(2)		(3,570)		(3,572)
Advisory fee and other income	—		309		93		2		54		458		426		884
Total adjusted revenues	4,994		2,731		4,639		7,390		119		19,873		(1,073)		18,800
Policyholder benefits	172		31		2,838		6,298		(3)		9,336		26		9,362
Change in the fair value of market risk benefits, net	—		—		—		—		—		—		(6)		(6)
Interest credited to policyholder account balances	2,167		1,182		340		600		—		4,289		138		4,427
Amortization of deferred policy acquisition costs	356		82		379		9		—		826		216		1,042
Non-deferrable insurance commissions	111		124		88		19		2		344		244		588
Advisory fee expenses	19		118		2		—		—		139		122		261
General operating expenses	274		440		619		85		261		1,679		603		2,282
Interest expense	—		—		—		—		552		552		28		580

Net (gain) loss on divestitures	—		—		—		—		—		—		(676)		(676)
Total benefits and expenses	3,099		1,977		4,266		7,011		812		17,165		695		17,860
Noncontrolling interests	—		—		—		—		68		68
Adjusted pre-tax operating income (loss)	$	1,895	$	754	$	373	$	379	$	(625)	$	2,776
Adjustments to:
Total revenue											(1,073)
Total expenses											695
Noncontrolling interests											(68)
Income before income tax expense (benefit)											$	940			$	940