What does group retirement — MRB in an asset position mean?

The value of market risk protections that currently act as an asset on the balance sheet.

How do you interpret group retirement — MRB in an asset position?

An asset position suggests that the market value of the benefits is favorable relative to the liabilities, often driven by market movements.

How does group retirement — MRB in an asset position compare across companies?

Comparable to 'Embedded Derivative Assets' or 'Fair Value of Hedging Instruments' in variable annuity products.

Corebridge Financial CRBG Group Retirement — MRB in an asset position

Discontinued — last reported Q4 '20

Similar metrics at other companies

PRURetirement — Less: Reinsured MRBs

$0—

EQHLegacy And Individual Retirement — Net Direct MRB

$12.87B—

EQHPurchased MRB — Changes in the instrument-specific credit risk

-$9M+43.8%

PRUAnnuities — Less: Reinsured MRBs

$870M+18.4%

EQHPurchased MRB — Market Risk Benefit, after Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change

-$5.26B+11.8%

EQHPurchased MRB — Market Risk Benefit, before Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change

-$5.27B+11.9%

Other financials

Income statement

See full

Revenue$4.0B+11.0%

Net income-$53.0M+92.0%

EPS (diluted)-$0.11+90.8%

Balance sheet

See full

Cash & equivalents$373.0M-5.1%

Total debt$11.2B-17.2%

Total equity$10.8B-9.8%

Total assets$407.06B+4.4%

Cash flow

See full

Operating cash flow-$9.0M-102%

Valuation

See full

Market cap$13.33B-37.9%

P/S0.7×-0.6×

Profitability

See full

Net margin5.4%—

Returns & leverage

See full

Return on equity7.3%—

Debt / equity0.9×-0.3×

Where this comes from

Reported directly by Corebridge Financial in its filing.

Tagged under the XBRL concept crbg:MarketRiskBenefitAssetsGross.

The official record: Corebridge Financial’s 10-K, filed February 15, 2024, on SEC EDGAR. View the filing →

Questions, answered.

What does group retirement — MRB in an asset position mean?: The value of market risk protections that currently act as an asset on the balance sheet.
How do you interpret group retirement — MRB in an asset position?: An asset position suggests that the market value of the benefits is favorable relative to the liabilities, often driven by market movements.
How does group retirement — MRB in an asset position compare across companies?: Comparable to 'Embedded Derivative Assets' or 'Fair Value of Hedging Instruments' in variable annuity products.