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Corebridge Financial CRBG Institutional Markets — Future Policy Benefits

Other segment segments

Corporate & Other
$20.1B-2.6%
Life Insurance
$13.51B+2.6%
Individual Retirement
$1.22B+3.0%
Group Retirement
$311M+46.0%

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$85.69B+1.2%
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JXNInstitutional Products — Reserves for Future Policy Benefits and Claims Payable
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AFLAflac Japan — Future policy benefits & unpaid policy claims
$52.6B-13.6%

Other financials

Income statement

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Revenue$3.9B+43.6%
Net income$2.0M+100%
EPS (diluted)-$0.04+96.7%

Balance sheet

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Cash & equivalents$353.0M+21.7%
Total debt$1.3B+1,138%
Total equity$10.7B-13.4%
Total assets$415.79B+4.2%

Cash flow

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Operating cash flow-$44.0M

Valuation

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Market cap$14.97B-18.8%
Enterprise value$15.87B-13.0%
P/S0.8×-0.4×

Profitability

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Net margin5.4%

Returns & leverage

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Return on equity7.3%
Debt / equity0.1×+0.1×

Where this comes from

Reported directly by Corebridge Financial in its filing.

Tagged under the XBRL concept us-gaap:SupplementaryInsuranceInformationLiabilityForFuturePolicyBenefitsLossesClaimsAndLossExpenseReserves.

The source filing: Corebridge Financial’s 10-K, filed February 11, 2026.

Filed
Feb 10, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0001889539-26-000022
At December 31, 2025 and 2024 / Segment (in millions)Deferred Policy Acquisition Costs and Value of Business AcquiredFuture Policy BenefitsPolicy and Contract ClaimsSchedule III / Unearned Premiums
Individual Retirement$3,379$1,219$25
Group Retirement1,0533111
Life Insurance4,17113,5138315
Institutional Markets11825,83187
Corporate and Other16420,0971114
Total Corebridge$8,885$60,971$1,055$9
2024
Individual Retirement$3,021$1,183$29

Item 8. Financial Statements and Supplementary Data

FAQ

What is Corebridge Financial's institutional markets — future policy benefits?
Corebridge Financial (CRBG) reported institutional markets — future policy benefits of $25.83B in Q4 2025.
How has Corebridge Financial's institutional markets — future policy benefits changed year-over-year?
Corebridge Financial's institutional markets — future policy benefits increased by 22.6% year-over-year, from $21.07B to $25.83B.
What does institutional markets — future policy benefits mean?
The total estimated liability for future insurance benefits that the company expects to pay to policyholders. This is a core actuarial calculation based on assumptions regarding mortality, morbidity, and interest rates. It represents the long-term financial commitment of the institutional segment to its policyholders.

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