Corebridge Financial宣布与Regenar进行个人退休可变年金交易

2025-06-27 00:07

Corebridge Financial (NYSE:CRBG) on Thursday said it has entered into an agreement with CS Life Re, a subsidiary of Venerable Holdings to reinsure all the variable annuities of its Individual Retirement business, with account value totaling $51 billion as of March 31, 2025.
The transaction is valued at $2.8 billion, consisting of both ceding commission and capital release, and will generate approximately $2.1 billion of net distributable proceeds after-tax for Corebridge.
Corebridge will reinsure its entire Individual Retirement variable annuity in-force book, amounting to $51 billion of total account value as of March 31, through reinsurance transactions with the company’s insurance subsidiaries American General Life Insurance Company (“AGL”) and The United States Life Insurance Company in the City of New York (“USL”).
The $51 billion of total account value includes $5 billion of General Account AV and $46 billion of Separate Account AV.
The transaction includes the sale of a related investment adviser and manager for portfolios offered in Corebridge variable annuity products (SAAMCo)
The AGL transaction is expected to close in the third quarter while the USL transaction and the sale of SAAMCo are expected to close in the fourth quarter.
AATOI expected to decrease by approximately $300 million in 2026 and the impact is expected to decrease materially over the next few years
CRBG is +5.56% to $34.91.
Source: Press Release

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