Corebridge is one of America's largest life-insurance and retirement companies — the former AIG Life & Retirement business, carved out and IPO'd in 2022. It takes in $42B a year of annuity, pension and life premiums, invests a ~$400B portfolio (managed largely by Blackstone and BlackRock), and earns the spread between what that float returns and what it credits policyholders. Japan's Nippon Life is now its largest shareholder.
What Corebridge Financial, Inc. really sells
Corebridge is one of America's largest life-insurance and retirement companies — the former AIG Life & Retirement business, carved out and IPO'd in 2022. It takes in $42B a year of annuity, pension and life premiums, invests a ~$400B portfolio (managed largely by Blackstone and BlackRock), and earns the spread between what that float returns and what it credits policyholders. Japan's Nippon Life is now its largest shareholder.