Corebridge Financial was spun off from AIG in 2022 and went public on the NYSE. Despite the new name, the company carries over a century of insurance heritage — its subsidiaries (American General Life, The United States Life Insurance Company in the City of New York, and others) have been issuing annuities since 1919.
With over $350 billion in assets and one of the broadest annuity product lineups in the industry, Corebridge serves millions of Americans across every major annuity category. Their AM Best A (Excellent) rating reflects strong — though not superior — financial strength.
Key Takeaways
- AM Best A (Excellent) — strong financial strength with over a century of history
- One of the broadest annuity lineups: MYGA, FIA, variable, and income annuities
- Formerly AIG Life & Retirement — publicly traded on NYSE since 2022
- $350B+ in assets; serves over 2 million U.S. policyholders
- Competitive across multiple product categories — not just one specialty
Who Is Corebridge Best For?
- Comprehensive shoppers: Corebridge offers every major annuity type under one roof — ideal for buyers who want to compare product categories with one carrier
- Variable annuity buyers: Corebridge’s variable annuity lineup is among the most comprehensive available
- Employer-sponsored plan participants: Corebridge is a major 403(b) and retirement plan provider — many educators and healthcare workers already have Corebridge products through work
- Income-focused retirees: Their LifeShield income products offer competitive guaranteed income options
Corebridge Annuity Products
MYGA — American General Value+ Protector
Fixed-rate MYGA with 3, 5, and 7-year terms. Competitive rates with 10% free withdrawal and standard surrender charge schedule. No annual fees.
Best for: Straightforward guaranteed accumulation with a century-old carrier at competitive rates.
Fixed Indexed Annuity — Power Series
FIA linked to S&P 500, MSCI EAFE, and other global indices. Multiple crediting strategies including annual point-to-point, monthly average, and monthly cap. Optional income riders available.
Best for: Index-growth buyers who want multiple index options and sophisticated crediting strategy choices.
Variable Annuity — Polaris Platinum
Broad sub-account selection (60+ funds) with optional living benefit riders. Offers a guaranteed minimum income benefit (GMIB) and guaranteed minimum withdrawal benefit (GMWB). Annual fees typically 1.25%–2.50% depending on riders elected.
Best for: Investors who want market participation with living benefit guarantees and are comfortable with annual fees and market risk.
Immediate Annuity — LifeShield
SPIA and period-certain options with competitive payout rates. Available in all 50 states. Payout options: life-only, period certain, joint life, cash refund.
Best for: Retirees converting a lump sum to guaranteed lifetime income with a nationally recognized carrier.
Corebridge Financial Strength Ratings
| Rating Agency | Rating | Meaning |
|---|---|---|
| AM Best | A (Excellent) | Excellent financial strength |
| S&P Global | A+ (Strong) | Strong financial security |
| Moody’s | A2 (Good) | Good financial strength |
Corebridge Pros and Cons
| Pros | Cons |
|---|---|
| Broadest product lineup in the industry | AM Best A — strong but not A+ or A++ |
| 100+ year insurance heritage (AIG legacy) | Variable annuity fees can be high with riders |
| $350B+ in assets — excellent size and scale | NAIC complaint index slightly above average historically |
| Competitive across all annuity categories | Recent spin-off from AIG creates some brand uncertainty |
| Major employer-plan provider (403b, 457) | Complex product suite — requires careful comparison shopping |
Frequently Asked Questions
What is Corebridge Financial’s AM Best rating?
Corebridge Financial’s insurance subsidiaries hold AM Best A (Excellent) ratings. This indicates excellent financial strength — one full notch below the A+ (Superior) and two notches below A++ (Superior) ratings held by companies like MassMutual and New York Life.
Is Corebridge the same as AIG?
Corebridge Financial was AIG’s life and retirement division. AIG spun it off as an independent publicly traded company (NYSE: CRBG) in 2022. The insurance subsidiaries — American General Life, etc. — remain the same entities that were previously part of AIG. AIG still holds a majority stake in Corebridge.
Does Corebridge offer competitive annuity rates?
Yes. Corebridge’s MYGA rates are generally competitive with the broader market, though they may not always top the rate tables. Their real strength is breadth — buyers can compare fixed, indexed, and variable products with income riders from one carrier.
