Corebridge Financial reported second quarter 2026 adjusted pre-tax operating income of $664 million, a 21% decrease from the prior year quarter, driven by underperforming variable investment income. Run-rate operating earnings per share rose 16% to $1.35 after adjusting for long-term alternative investment returns, while core sources of income grew 5% to $1.6 billion. The company returned $412 million to shareholders, including $300 million in share repurchases, and confirmed it is on track to meet full-year 2026 objectives ahead of its planned merger with Equitable Holdings, which shareholders approved on July 30. Management expects the combined entity to achieve $5 billion in earnings and $4 billion in cash generation by 2027, with $500 million in annual cost synergies within two years of closing.
Corebridge Financial Inc.Adjusted pre-tax operating income fell 21% year-over-year due to underperforming variable investment income.
Axa Equitable Holdings IncPlanned merger with Corebridge approved, expected to achieve $5B earnings and $500M cost synergies.
