Corebridge reports Q3 adjusted EPS 96c, consensus $1.08

Reports adjusted book value per common share $38.03 vs. $37.46 last quarter. The company said, “Corebridge (CRBG) delivered another quarter of solid performance, with our diversified businesses generating $12.3 billion of sales. The VA reinsurance transaction has enhanced our position, and we are now a simpler company with a lower risk profile, higher quality of earnings, and greater growth potential. Since the IPO we have strengthened every element of our value proposition. We offer a broad range of retirement and protection solutions to our customers. Our businesses contribute three different sources of income which generate sustainable and growing cash flows, and help us perform through various market cycles. We have a strong balance sheet that provides us with significant financial flexibility to achieve our strategic objectives. The capital ratios of our insurance companies continue to exceed their targets. We have more than ample liquidity at the parent and have returned $1.4 billion to shareholders this year. We have a high-quality investment portfolio and minimal legacy liabilities.”