Corebridge Stock Down Despite Q3 Earnings Beat on Fixed Annuity Growth
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Corebridge Financial (CRBG) reported Q3 earnings that exceeded expectations due to increased fixed annuity deposits and higher net investment income. However, the stock declined as higher costs from elevated policyholder benefits offset these gains.
November 19, 2024 | 7:00 pm
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Corebridge Financial's Q3 earnings beat expectations with increased fixed annuity deposits and net investment income. However, the stock declined due to higher costs from elevated policyholder benefits.
Despite the positive earnings report, the stock price of CRBG fell due to concerns over increased costs from policyholder benefits. This suggests that investors are worried about the impact of these costs on future profitability.
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