v3.26.3
Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Equity 17. EquityPREFERRED STOCK
Issuance of Corebridge Preferred Stock
On November 18, 2025, Corebridge Parent issued 500,000 shares of its 6.875% Fixed Rate Reset Non-Cumulative Preferred Stock,
Series A (the “Series A Preferred Stock”), $1.00 par value per share, with a liquidation preference of $1,000 per share, for aggregate
net cash proceeds of $493 million ($500 million gross). The preferred stock rank senior to Corebridge common stock with respect to
the payment of dividends and liquidation. Corebridge will pay dividends on the Series A Preferred Stock on a noncumulative basis
only when, as and if declared by the Company’s Board of Directors (or a duly authorized committee of the Board) and will be payable
semi-annually in arrears, commencing on June 1, 2026. Dividends will accrue on a noncumulative basis at a fixed rate per annum of
6.875% and from, and including, December 1, 2030, during each reset period at a rate per annum equal to the five-year treasury rate
plus 3.181%. In connection with the issuance of the Series A Preferred Stock we incurred $7 million of issuance costs, which has
been recorded as a reduction of additional paid-in capital. The Series A Preferred Stock is redeemable at Corebridge’s option, in
whole or in part, on any dividend payment date on or after December 1, 2030, at a redemption price of $1,000 per share plus declared
and unpaid dividends.
COMMON STOCK
The following table presents a rollforward of outstanding shares:
Nine Months Ended September 30, 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
—
1,414,116
1,414,116
Shares repurchased
—
(57,473,155)
(57,473,155)
Shares, end of period
650,189,849
(209,875,142)
440,314,707
Repurchase of Corebridge Common Stock
Shares may be repurchased from time to time in the open market, through private purchases, through forward, derivative, accelerated
repurchase or automatic repurchase transactions or otherwise. Certain of our share repurchases have been and may from time to
time be effected through the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) Rule 10b5-1 repurchase plans.
On May 4, 2023, our Board of Directors authorized a share repurchase program, which has subsequently been expanded. Most
recently, on June 23, 2025, our Board of Directors authorized an additional $2.0 billion increase in the share repurchase amount
under the share repurchase program. Under this program, Corebridge Parent may, from time to time, purchase shares of Corebridge
Parent common stock but is not obligated to purchase any particular number of shares. The authorization for the share repurchase
program may be terminated, increased or decreased by the Board of Directors at any time.
The following table presents by announcement date, common stock repurchases authorized by Corebridge’s Board of
Directors: 
September 30, 2026
Announcement date
Authorized
amount
Authorization
Remaining*
(in millions)
June 23, 2025
$2,000
$857
February 11, 2025
$2,000
$—
April 30, 2024
$2,000
$—
May 4, 2023
$1,000
$—
* The authorization remaining at September 30, 2026 does not reflect the applicable excise tax payable due to the Inflation Reduction Act of 2022.
From October 1, 2026 to October 30, 2026, we repurchased approximately 2 million shares of Corebridge Parent common stock for
an aggregate purchase price of approximately $64 million, leaving approximately $0.8 billion under the share repurchase
authorizations as of October 30, 2026.
RETAINED EARNINGS
Dividends
Common Stock Dividends
Declaration Date
Record Date
Payment Date
Dividend Paid Per
Common Share
August 4, 2026
September 16, 2026
September 30, 2026
$0.25
May 4, 2026
June 16, 2026
June 30, 2026
$0.25
February 9, 2026
March 17, 2026
March 31, 2026
$0.25
Preferred Stock Dividends
Declaration Date
Record Date
Payment Date
Dividend Paid Per
Common Share
May 5, 2026
May 15, 2026
June 1, 2026
$36.86
Common Stock Dividends Declared
On November 2, 2026, the Company declared a cash dividend on Corebridge Parent common stock of $0.25 per share, payable on
December 31, 2026 to shareholders of record at close of business on December 17, 2026.
Preferred Stock Dividends Declared
On November 3, 2026, the Company declared a cash dividend on Corebridge Parent Series A Preferred Stock of $34.375 per share,
payable on December 1, 2026 to holders of record at close of business on November 16, 2026.
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 September 30,
2026
Balance, June 30, 2026, net of tax
$(37)
$(12,951)
$(853)
$3,704
$(59)
$27
$2
$(10,167)
Change in unrealized appreciation
(depreciation) of investments
13
(8,559)
—
—
—
—
—
(8,546)
Change in fair value of market risk
benefits attributable to changes in our
own credit risk
—
—
347
—
—
—
—
347
Change in discount rates assumptions of
certain liabilities
—
—
—
2,087
—
—
—
2,087
Change in future policy benefits and other
—
204
—
—
—
—
—
204
Change in cash flow hedges
—
—
—
—
(436)
—
—
(436)
Change in foreign currency translation
adjustments
—
—
—
—
—
(4)
—
(4)
Change in deferred tax asset (liability)
(3)
1,705
(75)
(452)
95
1
—
1,271
Total other comprehensive income
(loss)
10
(6,650)
272
1,635
(341)
(3)
—
(5,077)
Less: Noncontrolling interests
—
—
—
—
—
—
—
—
Balance, September 30, 2026, net of
tax
$(27)
$(19,601)
$(581)
$5,339
$(400)
$24
$2
$(15,244)
(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 September 30,
2025
Balance, June 30, 2025, net of tax
$(17)
$(13,483)
$(724)
$3,429
$136
$24
$2
$(10,633)
Change in unrealized appreciation
(depreciation) of investments
(8)
2,413
—
—
—
—
—
2,405
Change in fair value of market risk
benefits attributable to changes in our
own credit risk
—
—
(337)
—
—
—
—
(337)
Change in discount rates assumptions of
certain liabilities
—
—
—
(196)
—
—
—
(196)
Change in future policy benefits and other
(1)
(68)
—
—
—
—
—
(69)
Change in cash flow hedges
—
—
—
—
6
—
—
6
Change in foreign currency translation
adjustments
—
—
—
—
—
9
—
9
Change in deferred tax asset (liability)
2
(325)
73
42
(2)
(3)
—
(213)
Total other comprehensive income (loss)
(7)
2,020
(264)
(154)
4
6
—
1,605
Less: Noncontrolling interests
—
—
—
—
—
—
—
—
Balance, September 30, 2025, net of tax
$(24)
$(11,463)
$(988)
$3,275
$140
$30
$2
$(9,028)
Nine Months Ended September 30,
2026
Balance at 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
3
(10,066)
—
—
—
—
—
(10,063)
Change in fair value of market risk
benefits attributable to changes in our
own credit risk
—
—
682
—
—
—
—
682
Change in discount rates assumptions of
certain liabilities
—
—
—
2,668
—
—
—
2,668
Change in future policy benefits and other
—
233
—
—
—
—
—
233
Change in cash flow hedges
—
—
—
—
(596)
—
—
(596)
Change in foreign currency translation
adjustments
—
—
—
—
—
(8)
—
(8)
Change in deferred tax asset (liability)
(1)
1,888
(147)
(579)
130
1
—
1,292
Total other comprehensive income
(loss)
2
(7,945)
535
2,089
(466)
(7)
—
(5,792)
Less: Noncontrolling interests
—
—
—
—
—
—
—
—
Balance, September 30, 2026, net of
tax
$(27)
$(19,601)
$(581)
$5,339
$(400)
$24
$2
$(15,244)
Nine Months Ended September 30, 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
25
5,984
—
—
—
—
—
6,009
Change in fair value of market risk
benefits attributable to changes in our
own credit risk
—
—
(381)
—
—
—
—
(381)
Change in discount rates assumptions of
certain liabilities
—
—
—
(86)
—
—
—
(86)
Change in future policy benefits and other
(1)
(101)
—
—
—
—
—
(102)
Change in cash flow hedges
—
—
—
—
238
—
—
238
Change in foreign currency translation
adjustments
—
—
—
—
—
55
—
55
Change in deferred tax asset (liability)
(5)
(1,117)
83
19
(52)
(7)
—
(1,079)
Total other comprehensive income (loss)
19
4,766
(298)
(67)
186
48
—
4,654
Less: Noncontrolling interests
—
—
—
—
—
1
—
1
Balance, September 30, 2025, net of tax
$(24)
$(11,463)
$(988)
$3,275
$140
$30
$2
$(9,028)
The following table presents the OCI reclassification adjustments for the three and nine months ended September 30, 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 September 30, 2026
Unrealized change arising during period
$9
$(8,328)
$347
$2,087
$(436)
$(4)
$(6,325)
Less: Reclassification adjustments included in net income
(4)
27
—
—
—
—
23
Total other comprehensive income (loss), before
income tax expense (benefit)
13
(8,355)
347
2,087
(436)
(4)
(6,348)
Less: Income tax expense (benefit)
3
(1,705)
75
452
(95)
(1)
(1,271)
Total other comprehensive income (loss), net of
income tax expense (benefit)
$10
$(6,650)
$272
$1,635
$(341)
$(3)
$(5,077)
Three Months Ended September 30, 2025
Unrealized change arising during period
$(9)
$2,316
$(337)
$(196)
$6
$9
$1,789
Less: Reclassification adjustments included in net income
—
(29)
—
—
—
—
(29)
Total other comprehensive income (loss), before
income tax expense (benefit)
(9)
2,345
(337)
(196)
6
9
1,818
Less: Income tax expense (benefit)
(2)
325
(73)
(42)
2
3
213
Total other comprehensive income (loss), net of
income tax expense (benefit)
$(7)
$2,020
$(264)
$(154)
$4
$6
$1,605
Nine Months Ended September 30, 2026
Unrealized change arising during period
$4
$(10,129)
$682
$2,668
$(596)
$(8)
$(7,379)
Less: Reclassification adjustments included in net income
1
(296)
—
—
—
—
(295)
Total other comprehensive income (loss), before
income tax expense (benefit)
3
(9,833)
682
2,668
(596)
(8)
(7,084)
Less: Income tax expense (benefit)
1
(1,888)
147
579
(130)
(1)
(1,292)
Total other comprehensive income (loss), net of
income tax expense (benefit)
$2
$(7,945)
$535
$2,089
$(466)
$(7)
$(5,792)
Nine Months Ended September 30, 2025
Unrealized change arising during period
$23
$4,931
$(381)
$(53)
$238
$55
$4,813
Less: Reclassification adjustments included in net income
(1)
(952)
—
33
—
—
(920)
Total other comprehensive income (loss), before
income tax expense (benefit)
24
5,883
(381)
(86)
238
55
5,733
Less: Income tax expense (benefit)
5
1,117
(83)
(19)
52
7
1,079
Total other comprehensive income (loss), net of
income tax expense (benefit)
$19
$4,766
$(298)
$(67)
$186
$48
$4,654
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                                                                                                                                                                                                                                                                                                                                                                     
September 30,
Nine Months Ended
September 30,
(in millions)
2026
2025
2026
2025
Unrealized appreciation (depreciation) of fixed
maturity securities on which allowance for credit
losses was taken
Investments
$(4)
$—
$1
$(1)
Net realized gains (losses)
Total
$(4)
$—
$1
$(1)
Unrealized appreciation (depreciation) of all other
investments
Investments
$27
$(29)
$(296)
$(952)
Net realized gains (losses)
Total
$27
$(29)
$(296)
$(952)
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
$23
$(29)
$(295)
$(920)
*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.
NON-REDEEMABLE NONCONTROLLING INTEREST
The activity in non-redeemable noncontrolling interest primarily relates to activities with consolidated investment entities.
The changes in non-redeemable noncontrolling interest due to divestitures and acquisitions primarily relate to the formation and
funding of new consolidated investment entities. The majority of the funding for these consolidated investment entities comes from
affiliated companies of Corebridge.
The changes in non-redeemable noncontrolling interest due to contributions from noncontrolling interests primarily relate to the
additional capital calls related to consolidated investment entities.
The changes in non-redeemable noncontrolling interest due to distributions to noncontrolling interests primarily relate to dividends or
other distributions related to consolidated investment entities.
The following table presents a rollforward of non-redeemable noncontrolling interest:
Three Months Ended                                                                                                                                                                                                                                                                                                                                                                     
September 30,
Nine Months Ended                                                                                                                                                                                                                                                                                                                                                                                     
September 30,
(in millions)
2026
2025
2026
2025
Beginning balance
$722
$867
$759
$864
Net income (loss)
4
(7)
(4)
(8)
Other comprehensive income, net of tax
—
—
—
1
Changes in noncontrolling interests due to divestitures and acquisitions
2
—
2
—
Contributions from noncontrolling interests
—
13
8
51
Distributions to noncontrolling interests
(31)
(92)
(63)
(124)
Other
—
(1)
(5)
(4)
Ending balance
$697
$780
$697
$780
See Note 8 for additional information related to Variable Interest Entities.