---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-023574"
form_type: "8-K"
ticker: "CRBG"
cik: "0001889539"
company_name: "Corebridge Financial, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:26:07.520917+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Corebridge Q1 net loss $459M on Fortitude Re derivative; adj. operating EPS $0.97

## Summary
- Premiums and deposits up 45% YoY; base portfolio income up 23%; base yield +60bps.
- Net loss of $459M ($0.70/share) driven by realized losses on Fortitude Re funds withheld embedded derivative.
- Adjusted after-tax operating income $632M, operating EPS $0.97; holding company liquidity $1.8B.
- Board authorized $1B share repurchase program; declared $0.23 quarterly dividend.
- Life Fleet RBC Ratio remains above 400% target; adopted long-duration targeted improvements retroactive to Jan 2021.

## SEC filing metadata
- accession: 0001140361-23-023574
- form_type: 8-K
- ticker: CRBG
- cik: 0001889539
- company_name: Corebridge Financial, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1889539/000114036123023574/0001140361-23-023574-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1889539/000114036123023574/brhc20052645_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-023574
- JSON: https://secwatch.observer/filing/0001140361-23-023574.json
- Plain text: https://secwatch.observer/filing/0001140361-23-023574.txt

## Key facts
- Earnings Releases
  Corebridge Financial, Inc. reported the quarter ended March 31, 2023 results: net income Net loss of $459 million, EPS $0.70 per share.
  - Period: the quarter ended March 31, 2023
  - Net income: Net loss of $459 million
  - EPS: $0.70 per share
  - Result: reported results
  source text: Corebridge Financial Announces First Quarter 2023 Results • Premiums and deposits 1 grew 45% compared to the prior year quarter • Base portfolio income 2 for our insurance operating businesses grew 23% while base yield 2 expanded 60 basis points compared to the prior year quarter • Net loss of $459 million , or $0.70 per share, largely the result of realized losses recorded for the Fortitude Re funds withheld embedded derivative • Adjusted after-tax operating income 1 of $632 million and operating EPS 1 of $0.97 per share reflect strong base spread income 2 • Holding company liquidity of $1.8 billion as of March 31, 2023 • Continue to maintain Life Fleet RBC Ratio 2 in excess of 400% target • Declared quarterly cash dividend $0.23 per share of common stock on May 8, 2023 • Adopted long-duration targeted improvements, retroactive to January 1, 2021 • Board of Directors authorized $1 billion share repurchase program
  evidence_url: https://www.sec.gov/Archives/edgar/data/1889539/000114036123023574/0001140361-23-023574-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.