On June 26, 2025, Venerable announced that it had entered into a definitive agreement to reinsure business from Corebridge.
On June 26, 2025, Venerable Holdings, Inc. (“Venerable”) announced that it had entered into a definitive agreement to reinsure Corebridge Financial, Inc. (“Corebridge”) (NYSE: CRBG). Venerable has entered into a definitive agreement to reinsure approximately $51 billion of variable annuity business from American General Life Insurance Company (“AGL”) and The US Life Insurance Company in the City of New York (“USL”), entities of Corebridge. At the time of the close of the transaction, Venerable will also commence variable annuity new business flow reinsurance from AGL. Venerable will also acquire Corebridge’s investment adviser, SunAmerica Asset Management, LLC (“SAAMCo”) whereby a team supporting SAAMCo will transition to Venerable. Further terms of the transaction were not disclosed.
Venerable, based in West Chester, Pennsylvania, owns and manages legacy variable annuity business, including variable annuities acquired from other entities. As of March 2025, Venerable had $67 billion in assets under management.
Corebridge, based in Houston, Texas, is a financial services company providing annuities, life insurance, retirement plans, wealth management services. As of June 2025, had $415 billion in assets under management.
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