Corebridge Aims to Launch First RILA Product by Year’s End

September 18, 2024 by Aaron Smith

Corebridge CEO Kevin Hogan said that the insurer is planning to launch the carrier’s first RILA product this year, and hinted at more reinsurance deals with its Bermuda subsidiary.

“Whilst we have a broad product range, we are looking forward to introducing our own version of a RILA product sometime before the end of the year,” said Hogan on Tuesday at the Barclays annual global financial services conference in New York.

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Sales of the structured annuities surged to a record $15.6 billion in the second quarter of 2024, an increase of 44.6% compared with the year-ago quarter, according to market research firm Wink.

Originally Posted at Life Annuity Specialist on September 11, 2024 by Aaron Smith.