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Who we are
Action is everything
What we offer
Financial strength
Individual Retirement
Contents
A solid foundation
Strength through partnerships
Retirement Services
Life Insurance
UK Life & Laya Healthcare
Institutional Markets
What's in a name
Corebridge at a glance
Employees & impact
Our leaders
The Corebridge difference
Our solutions
General account investments
At Corebridge Financial, we believe action is everything.
That’s why every day we proudly partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow.
Formerly AIG Life & Retirement, we are one of the largest and most established providers of retirement solutions and insurance products in the United States, with a long and proven track record of serving our clients. At Corebridge, we’re passionate about giving people the power to help them reach their financial goals. It’s who we are.
in assets under management or administration as of December 31, 2022
$357 billion
claims and benefits paid 2018-2022 by the U.S. life insurance companies collectively*
$47 billion
in premiums and deposits in 2022
$32 billion
* U.S. life insurance companies include American General Life Insurance Company (AGL), Houston, TX, The United States Life Insurance Company in the City of New York (US Life) and The Variable Annuity Life Insurance Company (VALIC), Houston, TX.
Corebridge Financial is a new company, but not a new business.
Our broad portfolio of products and services offers quality, choice and flexibility. This means the institutions and financial and retirement professionals we partner with have solutions to help meet unique financial goals and situations.
Expansive solutions to help secure financial futures
We bring deep dedication and industry experience to every partnership. Our teams go above and beyond to support our partners, helping them navigate changing markets and address evolving financial needs with confidence.
Industry experts all-in on your success
We deliver new, impactful ways to help our partners build brighter, more secure financial futures.
Experiences and resources to drive action
We’re passionate about working together to lift communities and help bring financial health and opportunity within reach—no matter where one is in their life’s journey.
Extending financial wellness to all
Speaks to our strong foundation of industry-leading products, services and partnerships that are central to helping people take action in their financial lives.
Evokes our passion for helping people take action to carry them from planning to outcomes, providing a path from today's financial needs to tomorrow's aspirations.
Our products and services provide choice and flexibility to help meet unique client needs so they can look to the future with confidence.
Group retirement plans and services for public and not-for-profit employers and their employees, and an expansive portfolio of annuity solutions for individuals.
Retirement solutions and services
Term, universal and index universal life insurance product solutions.
Family protection
Pension risk transfer, stable value wraps, structured settlements, guaranteed investment contracts, institutional annuities and life insurance, and more.
Institutional offerings
Our balanced portfolio across the Corebridge enterprise— Individual Retirement, Retirement Services, Life Insurance and Institutional Markets—enables us to manage risk, maximize growth opportunities and help drive positive outcomes for those we serve.
As a pioneer in the annuity industry, we have been focused on retirement savings and income needs for decades. We are among the top providers of annuity products in every primary annuity line of business, including fixed, index and variable annuities. We have ranked in the top 3 in U.S. annuity sales for the last ten years. Our proven knowledge in product design is reflected in our expansive suite of retirement solutions that offers opportunities for growth, protection and guaranteed lifetime income. We have a long and successful track record of innovation in the variable annuity market and, more recently, in leveraging product design and business partnerships to create unique offerings in both index and fixed annuity products. Tiered income structures, bespoke indices and defined outcome strategies allow us to create products that are differentiated and offer clients more options to support their retirement needs.
#3 in total annuity sales*
*LIMRA rankings in the U.S. for 4Q22 YTD. **As of December 31, 2022.
Approximately 1.2 million annuity policies in force**
Products distributed through a broad network of over 23,000 financial professionals and nearly 500 firms, including banks, broker-dealers and independent marketing organizations**
#3, #4 and #7 across index, fixed and variable annuities, respectively*
BY THE NUMBERS
For nearly 60 years, we’ve helped millions of Americans turn their vision for retirement into reality. That’s why so many plan sponsors and plan participants continue to place their trust in us year after year. The average length of our relationships with plan sponsors is nearly 28 years, and one in four in-plan individual clients have been with us for more than 20 years. We are a leading retirement plan provider for K-12 schools, healthcare, government, higher education and other not-for-profit institutions. Through our strong partnerships with plan sponsors and consultants, a dedicated financial advisor network, and innovative technology solutions and tools, we make retirement planning easy and accessible and help people turn their financial dreams into realities.
Top 5 retirement plan provider in K-12, higher education, government and healthcare, by assets*
Approximately 1,100 employee financial advisors serving plan participants and former employees**
Serve more than 22,000 plans across 50 states**
*LIMRA rankings in the U.S. for 3Q22 YTD. **As of December 31, 2022.
We recognize the importance of helping people protect their family and their legacy, which is why we offer a broad portfolio of competitive life insurance products and solutions. These are delivered through our distribution partner network, which is built on a wide range of long-standing relationships. We empower our distribution partners and their agents with key insights and resources that help them match their clients’ specific protection needs with the right coverage—whether term, universal or index universal life insurance. This includes products that offer legacy protection, the option to build cash value for tomorrow, and the ability to access certain benefits today. Our direct-to-consumer business, with approximately 130 agents, offers a simple and convenient approach to help people secure life insurance that works for them.
Approximately 33,000 independent agents and approximately 950 general agents (MGAs and BGAs) sell our life insurance solutions*
Top 10 in term life insurance sales**
Top 12 in total life insurance issued**
$984 billion in-force life insurance coverage and approximately 4.4 million in-force policies in the United States*
*As of December 31, 2022. **LIMRA rankings in the U.S. for 4Q22 YTD.
Corebridge has a growing international presence in the UK and Ireland. Through AIG Life UK, we offer group and individual life, critical illness and income protection insurance to UK customers. We distribute private medical insurance in Ireland through Laya Healthcare Limited.
$225 billion in-force coverage across approximately 2.6 million individual policyholders and group benefit members in the UK*
Over 676,000 customers in Ireland*
Top 2 distributor and administrator of private medical insurance in Ireland*
Top 4 provider of individual life new business in UK*
*As of December 31, 2022.
Corebridge offers sophisticated, customized balance sheet and risk management solutions to a wide range of institutions, including public and corporate pension plans, endowments and foundations, insurance companies and other financial institutions seeking optimal risk-adjusted investment returns. Our Institutional Markets products and solutions are distributed in highly specialized markets through asset managers, consulting firms, investment banks, marketing organizations, institutional brokers and structured settlement consultants. Our breadth of offerings includes pension risk transfer, stable value wraps, structured settlements, guaranteed investment contracts, institutional annuities and life insurance, and more.
Manage liabilities associated with pension risk transfer contracts covering approximately 154,000 participants*
$3.9 billion in structured settlement annuity reserves*
$8 billion in reserves related to our guaranteed investment contracts*
$47 billion in stable value wrap notional amount*
Our life insurance companies have received strong ratings for financial strength from independent ratings agencies.
We have a diversified earnings base, which is supported by our diverse business offerings. Our balance sheet is strong and well-structured to support our business goals and help maximize performance, and each of our U.S. life insurance companies maintains a strong capital position.
Agency
Rating (as of 2/21/23)
Standard & Poor's
A+ (Strong)
Moody's
A2 (Good)
A.M. Best
A (Excellent)
Fitch
1
Ratings are subject to change. See last page for more details. 1 Outlook: Stable
American General Life Insurance Company
The Variable Annuity Life Insurance Company
The United States Life Insurance Company in the City of New York
Corebridge’s general account investments are prudently constructed and benefit from a strong asset liability management discipline and strategic asset allocation. Due to the active management of the assets and risk appetite, the investments continue to perform well over credit cycles. The guarantees associated with our insurance products are backed by the general account of the issuing life insurance company.
3%
Other invested assets
2%
Short-term investments & other
5%
Government & agency
48%
Corporate debt
21%
Structured securities
Mortgage & other loan receivables
$186 billion
Corebridge benefits from a hybrid investment management model that combines internal capabilities with external partners. These partners are world-class institutions with global origination and asset management platforms. This “manager of managers” approach is specifically designed to enhance our competitiveness and expand our capabilities and scalability. Our partners include:
Blackstone, one of the most recognized firms in asset management,* currently manages $48.9 billion of assets.** This partnership broadens our access to directly originated assets that provide certain enhanced protections and incremental value while fitting within our defined portfolio management and risk appetite framework. We expect Blackstone to primarily invest these assets in a combination of publicly and privately sourced investment opportunities across a range of asset classes, including structured credit and real estate.
BlackRock, one of the leading providers of investment, advisory and risk management solutions,*** will manage up to $90 billion of certain liquid fixed income and private placement assets, providing a “scale and fee” structure that we believe is designed to further optimize our investment management operating model while improving overall performance. BlackRock’s Aladdin platform will also modernize our investment platform with expanded analytics and accounting capabilities.
* Blackstone has $975 billion of assets under management as of December 31, 2022. **Book value as of December 31, 2022 for certain insurance companies. *** BlackRock has $8.6 trillion of assets under management as of December 31, 2022.
Each and every day, our employees strive to make a positive impact on millions of lives—including the individuals and institutions we serve, as well as the communities where we live and work.
We are committed to creating an inclusive workplace focused on attracting, retaining and developing diverse talent that fosters a culture of belonging for all employees. Our Diversity Council and Employee Resource Groups work to ensure Diversity, Equity, Inclusion and Belonging (DEIB) initiatives are an integral part of our business strategies, facilitate networking and connections with peers, and support a culture of inclusion and engagement within the company. Operating as a responsible corporate citizen is central to our success as a business. We are committed to making a positive difference in the communities where we work, live and serve our customers. We align our charitable giving around building resilience and financial security for individuals, families and communities. And we currently support programs that leverage our employees’ passion for giving back.
The Corebridge Financial Executive Leadership Team brings deep industry and business expertise, and strong leadership skills to the organization’s operations and culture—inspiring action and leading us forward.
Kevin Hogan Chief Executive Officer
Kathy Anderson Chief Risk Officer
Dave Ditillo Chief Information Officer
Elias Habayeb Chief Financial Officer
Amber Miller Chief Auditor
Chris Nixon General Counsel
Jonathan Novak President of Institutional Markets
Betsy Palmer Chief Marketing Officer
Todd Solash President of Individual Retirement & Life Insurance
Alan Smith Chief Human Resources Officer
Terri Fiedler President of Retirement Services
Lisa Longino Chief Investment Officer
Mia Tarpey Chief Operating Officer
