Corebridge Financial, Inc. — Form 8-K
Filed August 17, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 28/100
What the filing says
Corebridge Financial (holding company for Equitable Holdings) reported a net loss of $1,037 million for 2025 (vs. $1,796 million net income in 2024). Key drivers: (1) RGA reinsurance transaction closed July 31, 2025—ceded $11.6B in assets, recorded $1.1B loss on cession, transferred 75% quota share of in-force individual life and Closed Block to RGA; (2) Novation of $2.0B purchased MRB asset (legacy VA policies) completed January 2025, recording $499M pre-tax loss; (3) Net derivative losses of $2,055M (2025) vs. $2,551M (2024); (4) Equity declined to $1,466M from $3,423M. AUM increased to $51.3B in non-consolidated AB-sponsored products. Company equity decreased 57% year-over-year; earnings per share: $(4.83) basic vs. $3.74 in 2024.
Why this rating
Major reinsurance cession ($11.6B) and losses offset by routine 10-K filing; material absolute dollar loss but partially non-cash/non-recurring; equity still ~17% of company value at $8.7B market cap.
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