Corebridge Financial Inc (FRA:AS5)

Q4 2024 Corebridge Financial Inc Earnings Call Transcript

Feb 13, 2025 / 03:00PM GMT

Release Date Price: €31.4 (-1.26%)

Transcript 10-K8-K

Key Points

Positve

Corebridge Financial Inc (CRBG) achieved or exceeded its financial goals, including an adjusted ROE of 12% to 14% and a payout ratio of 60% to 65%, supported by the Corebridge Forward efficiency program.
The company reported a 35% improvement in quarterly run rate operating earnings per share, driven by earnings growth and capital management.
Corebridge Financial Inc (CRBG) returned $4.9 billion to shareholders since its IPO, with a cumulative payout ratio of 73%, and repurchased 14% of its outstanding shares.
The company achieved $400 million in run rate savings ahead of schedule, reducing expenses by 13% on a comparable basis.
Corebridge Financial Inc (CRBG) increased full-year operating earnings per share by 18% year over year to $4.83, with a run rate ROE improvement of over 100 basis points to 13.2%.

Negative

Base spread income declined by 5% due to net outflows in the Group Retirement business and changes in short-term interest rates.
The Individual Retirement segment experienced a 7% decline in adjusted pretax operating income due to base spread compression.
The company anticipates near-term headwinds from changes in short-term interest rates and related hedging activities.
Corebridge Financial Inc (CRBG) expects EPS growth to be less than 10% in 2025 due to spread pressures and other dynamics.
The company faces potential challenges with increased surrender rates in Individual Retirement as large lots of fixed and fixed index annuities exit their surrender charge period.

Operator

Hello, everyone, and welcome to today's Corebridge Financial fourth-quarter 2024 earnings Call. My name is Seth, and I'll be the operator for your call today. (Operator Instructions)

I will now hand the floor over to Isil Muderrisoglu to begin. Please go ahead.

Isil;Muderrisoglu

Corebridge Financial Inc - Head of Investor and Rating Agency Relations

] -

Good morning, everyone, and welcome to Corebridge Financial's earnings update for the fourth-quarter and full-year 2024. Joining me on the call are Kevin Hogan, President and Chief Executive Officer; and Elias Habayeb, Chief Financial Officer. We will begin with prepared remarks by Kevin and Elias, and then we will take your questions.

Today's comments may contain forward-looking statements, which are subject to risks and uncertainties. These statements are not guarantees of future performance or events and are based upon management's current expectations and assumptions. Corebridge's filings with the SEC provide details on important factors that may cause actual results or

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.