Corebridge Financial Reports Wider Loss For Q4

(RTTNews) - Corebridge Financial, Inc. (CRBG) Thursday reported a net loss of $1.309 billion or $2.07 per share for the fourth quarter, significantly higher than $207 million or $0.32 per share loss in the same quarter a year ago, primarily driven by losses recorded for the Fortitude Re funds withheld embedded derivative.

Adjusted after-tax operating income was $661 million or $1.04 per share, higher than $610 million or $0.93 per share a year ago.

Net investment income was $3.012 billion, an 18 percent increase over the prior year quarter.

Premiums and deposits grew to $10.472 billion from $8.694 billion last year.