Corebridge Financial announced its first-quarter 2025 financial results, reporting an operating EPS of $1.16, a 5% increase compared to $1.10 in the prior year quarter. Adjusted pre-tax operating income (APTOI) was $810 million, a 3% decrease from $837 million in Q1 2024. Premiums and deposits for the quarter were $9.3 billion, a 12% decrease from the historically strong prior year quarter.
The company returned $454 million of capital to shareholders during the quarter, an 18% increase year-over-year, which included $321 million of share repurchases and $133 million in dividends. This equates to a 70% payout ratio, demonstrating Corebridge's continued commitment to shareholder returns. Holding company liquidity stood at $2.4 billion as of March 31, 2025.
Despite a net loss of $664 million, primarily due to higher realized losses and an unfavorable change in the fair value of market risk benefits, Corebridge highlighted the benefits of its diversified business model and disciplined execution. The Individual Retirement segment saw contributions from higher fixed index annuity and Registered Index-Linked Annuity (RILA) deposits, partially offsetting lower fixed annuity deposits.
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