Corebridge to Wall Street: We’re Built for Volatility

November 15, 2022 by Allison Bell

Kevin Hogan, the CEO of Corebridge Financial — AIG’s newly separated life and annuity business — scoffed Wednesday that the kind of market volatility occurring so far this year would do much to Corebridge.

The recent rapid increase in interest rates has hurt some kinds of investment holdings and other values and sales at Corebridge, but, overall, the effects of rising interest rates will be great for the difference between what the company pays holders of life and annuity products and what it earns on its own assets, Hogan told securities analysts at the company’s third-quarter earnings call.

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Originally Posted at ThinkAdvisor on November 10, 2022 by Allison Bell.