Corebridge Financial Closes Major Variable Annuity Reinsurance Deal with Venerable
Reuters
Aug 04
Corebridge Financial Closes Major Variable Annuity Reinsurance Deal with Venerable
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.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Corebridge Financial Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250804782008) on August 04, 2025, and is solely responsible for the information contained therein.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.