Corebridge reports Q2 adjusted EPS $1.04, consensus 93c

Reports Q2 Book value per common share $16.61 vs. $18.99 last year. Kevin Hogan, President and CEO of Corebridge, said, “This was an excellent quarter for Corebridge, where we continued to benefit from our focused execution, disciplined risk management and the competitive strengths of our diversified businesses. We generated nearly $10B of premiums and deposits, a 42% increase over the prior year. Base spread income also grew 42% year over year, and our businesses remain well positioned to capitalize on current market opportunities.” “Corebridge returned $750M to shareholders this quarter, through a combination of dividends and share repurchases. We are pleased to have begun our share repurchase program only nine months after our initial public offering, marking an important milestone in our commitment to provide an attractive capital return to shareholders. Also, we believe the sale of Laya Healthcare unlocks significant value for shareholders and represents an important step in maintaining our focus on the life and retirement businesses in the U.A.”