Corebridge Financial Reports Strong Fourth Quarter and Full Year 2024 Results
HOUSTON–(Business Wire)–Corebridge Financial, Inc. (“Corebridge” or the “Company”), a leading provider of insurance and retirement solutions, reported its financial results for the fourth quarter and full year ended December 31, 2024. The Company’s strong performance was highlighted by significant growth in premiums and deposits, as well as increased operating earnings.
Financial Highlights
Corebridge’s President and Chief Executive Officer, Kevin Hogan, expressed his satisfaction with the results, stating, “I am pleased to report strong performance for Corebridge. For the full year, we generated top-line growth of 12% to $41.7 billion in premiums and deposits, an 18% increase year over year. Our operating earnings per share came in at $4.83, representing a 18% increase compared to the previous year.”
Business Performance
The Company’s insurance solutions segment experienced growth in both life and annuity businesses, driven by increased sales, higher persistency, and favorable mortality experience. Corebridge’s retirement solutions segment also saw strong performance, with assets under management reaching $250 billion, a 13% increase from the previous year.
Impact on Consumers
For individuals and families seeking insurance and retirement solutions, the strong financial performance of Corebridge may lead to increased competition and potentially more options for consumers. As the Company continues to grow, it may expand its product offerings and reach a larger customer base. This could result in more competitive pricing and innovative solutions in the market.
Impact on the World
The robust financial results of Corebridge could have a positive impact on the global economy, particularly in the financial services sector. As a leading provider of insurance and retirement solutions, Corebridge’s growth may signal a strong demand for these products and services. This, in turn, could lead to increased investment in research and development, as well as job creation in the industry.
Conclusion
Corebridge Financial’s strong financial performance in 2024 is a testament to its ability to deliver value to its customers and shareholders. With a focus on growth, innovation, and customer satisfaction, the Company is well-positioned to continue its momentum in the years to come. The potential increase in competition and innovation in the insurance and retirement solutions market, as well as the positive impact on the global economy, underscores the importance of this sector in providing financial security and stability for individuals and families around the world.
- Corebridge Financial reported strong financial results for the fourth quarter and full year 2024.
- The Company generated top-line growth of 12% to $41.7 billion in premiums and deposits.
- Operating earnings per share came in at $4.83, representing a 18% increase compared to the previous year.
- The strong performance was driven by growth in both life and annuity businesses and retirement solutions segment.
- The Company’s growth could lead to increased competition and potentially more options for consumers.
- The positive impact on the global economy could lead to increased investment in research and development and job creation in the financial services sector.
