Nippon Life to Buy 20% of Corebridge From AIG for $3.8 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Source: Bloomberg
- Acquisition Deal: Nippon Life to acquire a 20% stake in Corebridge for $3.8 billion in cash, marking its largest deal and aiming for a US foothold.
- Partnership and Ownership: Nippon Life plans to buy shares from AIG, which owns over 50% of Corebridge, establishing a strategic partnership with both firms.
- Regulatory Approval: The transaction is subject to regulatory approval before finalization.
- Strategic Growth: Nippon Life sees this deal as a significant step towards expanding its presence in the US market through acquisitions.
- Corebridge Profile: Corebridge is a major provider of retirement solutions and insurance products in the US, especially in the individual retirement market.
Analyst Views on CRBG
Wall Street analysts forecast CRBG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRBG is 37.30 USD with a low forecast of 33.00 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
7 Buy
3 Hold
0 Sell
Moderate Buy
Current: 30.540
Low
33.00
Averages
37.30
High
40.00
Current: 30.540
Low
33.00
Averages
37.30
High
40.00
About CRBG
Corebridge Financial, Inc. is a provider of retirement solutions and insurance products in the United States. The Company partners with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. Its Individual Retirement segment consists of fixed annuities, fixed index annuities, registered index-linked annuities and variable annuities. Its Group Retirement segment consists of recordkeeping, plan administrative and compliance services, financial planning and advisory solutions offered in-plan, along with proprietary and limited non-proprietary annuities, advisory and brokerage products offered out-of-plan. Its Life Insurance segment consists of term and universal life insurance products in the United States. Its Institutional Markets segment consists of stable value wrap (SVW) products, structured settlement and pension risk transfer (PRT) annuities, guaranteed investment contracts (GICs) and corporate markets products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
