Corebridge Q1 Loss Narrows

(RTTNews) - Insurance company Corebridge Financial (CRBG) on Monday reported first-quarter results, with net loss narrowing from last year.

Net loss for the quarter was $53 million, or $0.11 per share, compared with a loss of $664 million, or $1.19 per share, in the prior-year period.

The improvement was largely due to realized gains related to Fortitude Re embedded derivatives, compared with losses in the year-ago period.

Adjusted after-tax operating income declined to $501 million from $570 million last year, while operating earnings per share increased to $1.05 from $1.02.

Premiums and deposits decreased 10% to $8.01 billion from $8.92 billion a year ago.