Equity (Tables)
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3 Months Ended |
Mar. 31, 2026 |
| Equity [Abstract] |
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| Schedule of Rollforward of Outstanding Shares |
The following table presents a rollforward of outstanding shares: | | | | | | | | | | | | | Three Months Ended March 31, 2026 | Common Stock Issued | Treasury Stock | Common Stock Outstanding | | | | | | Shares, beginning of year | 650,189,849 | | (153,816,103) | | 496,373,746 | | | Shares issued under long-term incentive compensation plans | — | | 1,375,163 | | 1,375,163 | | | Shares repurchased | — | | (41,021,643) | | (41,021,643) | | | Shares, end of period | 650,189,849 | | (193,462,583) | | 456,727,266 | |
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| Schedule of Authorized Common Stock Repurchases |
The following table presents by announcement date, common stock repurchases authorized by Corebridge’s Board of Directors: | | | | | | | | | | March 31, 2026 | | | Announcement date | Authorized amount | Authorization Remaining* | (in millions) | | | | | | | June 23, 2025 | $ | 2,000 | | $ | 1,342 | | | February 11, 2025 | $ | 2,000 | | $ | — | | | April 30, 2024 | $ | 2,000 | | $ | — | | | May 4, 2023 | $ | 1,000 | | $ | — | |
* The authorization remaining at March 31, 2026 does not reflect the applicable excise tax payable due to the Inflation Reduction Act of 2022.
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| Schedule of Dividends Declared |
Dividends | | | | | | | | | | | | | Declaration Date | Record Date | Payment Date | Dividend Paid Per Common Share | | | | | | | | | | | | | | | | | | February 9, 2026 | March 17, 2026 | March 31, 2026 | $ | 0.25 | |
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| Schedule of Rollforward of Accumulated Other Comprehensive Income (Loss) |
The following table presents a rollforward of Accumulated other comprehensive income (loss): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Unrealized appreciation (depreciation) of Fixed maturity securities on which allowance for credit losses was taken | | Unrealized appreciation (depreciation) of all Other Investments | | Change in fair value of market risk benefits attributable to changes in our own credit risk | | Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts | | Cash flow hedges | | Foreign currency translation adjustments | | Retirement plan liabilities adjustment | | Total | | | | Three Months Ended March 31, 2026 | | | | | | | | | | | | | | | | | | | | Balance, December 31, 2025, net of tax | | $ | (29) | | | $ | (11,656) | | | $ | (1,116) | | | $ | 3,250 | | | $ | 66 | | | $ | 31 | | | $ | 2 | | | $ | (9,452) | | | | | | | | | | | | | | | | | | | | | | | Change in unrealized appreciation (depreciation) of investments | | (43) | | | (2,519) | | | — | | | — | | | — | | | — | | | — | | | (2,562) | | | | | Change in fair value of market risk benefits attributable to changes in our own credit risk | | — | | | — | | | 601 | | | — | | | — | | | — | | | — | | | 601 | | | | | Change in discount rates assumptions of certain liabilities | | — | | | — | | | — | | | 837 | | | — | | | — | | | — | | | 837 | | | | | Change in future policy benefits and other | | — | | | 50 | | | — | | | — | | | — | | | — | | | — | | | 50 | | | | | Change in cash flow hedges | | — | | | — | | | — | | | — | | | (52) | | | — | | | — | | | (52) | | | | | Change in foreign currency translation adjustments | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change in deferred tax asset (liability) | | 9 | | | 441 | | | (130) | | | (182) | | | 12 | | | — | | | — | | | 150 | | | | | | | | | | | | | | | | | | | | | | | | Total other comprehensive income (loss) | | (34) | | | (2,028) | | | 471 | | | 655 | | | (40) | | | — | | | — | | | (976) | | | | | | | | | | | | | | | | | | | | | | | Less: Noncontrolling interests | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | Balance, March 31, 2026, net of tax | | $ | (63) | | | $ | (13,684) | | | $ | (645) | | | $ | 3,905 | | | $ | 26 | | | $ | 31 | | | $ | 2 | | | $ | (10,428) | | | | | Three Months Ended March 31, 2025 | | | | | | | | | | | | | | | | | | | Balance, December 31, 2024, net of tax | | $ | (43) | | | $ | (16,229) | | | $ | (690) | | | $ | 3,342 | | | $ | (46) | | | $ | (17) | | | $ | 2 | | | $ | (13,681) | | | | | | | | | | | | | | | | | | | | | | | Change in unrealized appreciation (depreciation) of investments | | 16 | | | 2,003 | | | — | | | — | | | — | | | — | | | — | | | 2,019 | | | | | Change in fair value of market risk benefits attributable to changes in our own credit risk | | — | | | — | | | (60) | | | — | | | — | | | — | | | — | | | (60) | | | | | Change in discount rates assumptions of certain liabilities | | — | | | — | | | — | | | 50 | | | — | | | — | | | — | | | 50 | | | | | Change in future policy benefits and other | | — | | | (32) | | | — | | | — | | | — | | | — | | | — | | | (32) | | | | Change in cash flow hedges | | — | | | — | | | — | | | — | | | 175 | | | — | | | — | | | 175 | | | | | Change in foreign currency translation adjustments | | — | | | — | | | — | | | — | | | — | | | 5 | | | — | | | 5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change in deferred tax asset (liability) | | (3) | | | (487) | | | 13 | | | (10) | | | (38) | | | — | | | — | | | (525) | | | | | | | | | | | | | | | | | | | | | | | | Total other comprehensive income (loss) | | 13 | | | 1,484 | | | (47) | | | 40 | | | 137 | | | 5 | | | — | | | 1,632 | | | | | | | | | | | | | | | | | | | | | | | Less: Noncontrolling interests | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | | | Balance, March 31, 2025, net of tax | | $ | (30) | | | $ | (14,745) | | | $ | (737) | | | $ | 3,382 | | | $ | 91 | | | $ | (12) | | | $ | 2 | | | $ | (12,049) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Schedule of Reclassification out of Accumulated Other Comprehensive Income |
The following table presents the OCI reclassification adjustments for the three months ended March 31, 2026 and 2025, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Unrealized appreciation (depreciation) of Fixed maturity securities on which allowance for credit losses was taken | | Unrealized appreciation (depreciation) of all Other Investments | | Change in fair value of market risk benefits attributable to changes in our own credit risk | | Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts | | Cash flow hedges | | Foreign currency translation adjustments | | | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | | | | | | | | | | | | | | | | | Unrealized change arising during period | | $ | (39) | | | $ | (2,732) | | | $ | 601 | | | $ | 837 | | | $ | (52) | | | $ | — | | | | | $ | (1,385) | | | Less: Reclassification adjustments included in net income | | 4 | | | (263) | | | — | | | — | | | — | | | — | | | | | (259) | | | Total other comprehensive income (loss), before income tax expense (benefit) | | (43) | | | (2,469) | | | 601 | | | 837 | | | (52) | | | — | | | | | (1,126) | | | Less: Income tax expense (benefit) | | (9) | | | (441) | | | 130 | | | 182 | | | (12) | | | — | | | | | (150) | | | Total other comprehensive income (loss), net of income tax expense (benefit) | | $ | (34) | | | $ | (2,028) | | | $ | 471 | | | $ | 655 | | | $ | (40) | | | $ | — | | | | | $ | (976) | | | Three Months Ended March 31, 2025 | | | | | | | | | | | | | | | | | | Unrealized change arising during period | | $ | 15 | | | $ | 1,816 | | | $ | (60) | | | $ | 83 | | | $ | 175 | | | $ | 5 | | | | | $ | 2,034 | | | Less: Reclassification adjustments included in net income | | (1) | | | (155) | | | — | | | 33 | | | — | | | — | | | | | (123) | | | Total other comprehensive income (loss), before income tax expense (benefit) | | 16 | | | 1,971 | | | (60) | | | 50 | | | 175 | | | 5 | | | | | 2,157 | | | Less: Income tax expense (benefit) | | 3 | | | 487 | | | (13) | | | 10 | | | 38 | | | — | | | | | 525 | | | Total other comprehensive income (loss), net of income tax expense (benefit) | | $ | 13 | | | $ | 1,484 | | | $ | (47) | | | $ | 40 | | | $ | 137 | | | $ | 5 | | | | | $ | 1,632 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The following table presents the effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Condensed Consolidated Statements of Income (Loss)*: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amount Reclassified from AOCI | | Affected Line Item in the Condensed Consolidated Statements of Income (Loss) | | | | | Three Months Ended March 31, | | | (in millions) | | | | | | 2026 | | 2025 | | | | | Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken | | | | | | | | | | | | | | Investments | | | | | | $ | 4 | | $ | (1) | | | | | Net realized gains (losses) | | Total | | | | | | $ | 4 | | $ | (1) | | | | | | | Unrealized appreciation (depreciation) of all other investments | | | | | | | | | | | | | | Investments | | | | | | $ | (263) | | $ | (155) | | | | Net realized gains (losses) | | Total | | | | | | $ | (263) | | $ | (155) | | | | | | | Effect of changes in the discount rates used to measure traditional and limited-payment long duration insurance contracts | | | | | | | | | | | | | | Reinsurance recapture | | | | | | $ | — | | $ | 33 | | | | Policyholder benefits | | Total | | | | | | $ | — | | $ | 33 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total reclassifications for the period | | | | | | $ | (259) | | $ | (123) | | | | |
*The following items are not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the table:(a) Change in fair value of MRBs attributable to changes in our own credit risk; and (b) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts.
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| Schedule of Non-Redeemable Noncontrolling Interest |
The following table presents a rollforward of non-redeemable noncontrolling interest: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | (in millions) | | | | | | 2026 | | 2025 | | | | Beginning balance | | | | | | $ | 759 | | $ | 864 | | | | Net income (loss) attributable to redeemable noncontrolling interest | | | | | | (8) | | 7 | | | | | | | | | | | | | | | | | | | | | | | | | | Contributions from noncontrolling interests | | | | | | 8 | | 8 | | | | Distributions to noncontrolling interests | | | | | | (21) | | (20) | | | | Other | | | | | | (2) | | (3) | | | | Ending balance | | | | | | $ | 736 | | $ | 856 | | |
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