Corebridge Financial Inc. has announced the successful closure of the largest portion of its previously disclosed agreement with Corporate Solutions Life Reinsurance Company, an insurance subsidiary of Venerable Holdings, Inc. This agreement involves reinsuring all Individual Retirement variable annuities issued by American General Life Insurance Company, a subsidiary of Corebridge. The transaction represents approximately 90% of the total value, reflecting the reinsurance of the entire existing portfolio of these annuities. Additionally, new Individual Retirement variable annuity contracts issued by AGL will be reinsured through an ongoing flow reinsurance agreement with Venerable. The remaining parts of the transaction, which include the reinsurance of annuities issued by The United States Life Insurance Company in the City of New York and the sale of a related investment adviser and manager, are expected to be finalized in the fourth quarter, pending customary closing conditions and regulatory approvals.