Corebridge Financial announced strong financial results for the second quarter ended June 30, 2025. The company reported an operating EPS of $1.36, a 20% increase year-over-year from $1.13 in Q2 2024. Adjusted pre-tax operating income (APTOI) was $942 million, up 10% from $859 million in the prior year quarter, reflecting robust operational performance.
Premiums and deposits for the quarter were $10.8 billion, a 7% decrease from the prior year's strong quarter, though excluding transactional activity, premiums and deposits remained flat year-over-year. Corebridge returned $442 million of capital to shareholders through dividends and share repurchases during the quarter. Net loss was $660 million, compared to a gain of $365 million in Q2 2024, primarily due to higher realized losses.
A significant development was the successful closing of the largest portion of the previously announced variable annuity reinsurance transaction with Venerable, specifically the American General Life Insurance Company (AGL) component. This represents approximately 90% of the total transaction value, effectively exiting Corebridge from the Individual Retirement variable annuity financial risk. The new RILA product also demonstrated strong momentum, with cumulative sales surpassing $1 billion just nine months after its initial launch.
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