Corebridge Financial, Inc. (NYSE:CRBG) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET
Company Participants
Josh Smith - Head of Investor Relations
Kevin Hogan - President and Chief Executive Officer
Elias Habayeb - Chief Financial Officer
Conference Call Participants
Elyse Greenspan - Wells Fargo Securities
John Barnidge - Piper Sandler
Alex Scott - Goldman Sachs
Erik Bass - Autonomous
Ryan Krueger - Keefe, Bruyette & Woods
Michael Ward - Citi
Jimmy Bhullar - JPMorgan
Suneet Kamath - Jefferies
Operator
Hello, and welcome to the Corebridge Financial First Quarter 2023 Earnings Call. My name is Lauren, and I will be coordinating your call today. [Operator Instructions]
I will now hand you over to your host, Josh Smith, Head of Investor Relations, to begin. Please go ahead.
Josh Smith
Good morning, everyone, and welcome to Corebridge Financial’s earnings update for the first quarter of 2023. Joining me on the call are Kevin Hogan, President and Chief Executive Officer; and Elias Habayeb, Chief Financial Officer. We will begin with prepared remarks by Kevin and Elias, and then we will take your questions.
As a reminder, our financial results reflect the implementation of long-duration targeted improvement accounting guidance or LDTI. Historical results for 2021 and 2022 have been restated and are available in our recast financial supplement posted to our website at investors.corebridgefinancial.com.
Today’s remarks may contain forward-looking statements, which are subject to risks and uncertainties. These statements are not guarantees of future performance or events and are based upon management’s current expectations. Corebridge’s filings with the SEC provide details on important factors that may cause actual results or events to differ materially. Except as required by the applicable securities laws, Corebridge is under no obligation to update any forward-looking statements and circumstances or management’s estimates or opinions should change.
Additionally, today’s remarks may refer to non-GAAP financial measures. The reconciliation of such measures to the most comparable GAAP figures is included in our earnings release, financial supplement and earnings presentation, all of which are available on our website.
With that, I would now like to turn the call over to Kevin.
A - Kevin Hogan
Thank you, Josh, and good morning, everyone. Corebridge is off to a very good start in 2023, having delivered another excellent quarter. Our businesses generated great results, and we continue to make advances on our strategic initiatives.
Today, I will update you on the progress we are making towards our financial goals, including an important development in our capital management program. I will also speak to our business performance and strategic initiatives, concluding with comments on our disciplined approach to risk management and high-quality investment portfolio. Elias will then provide additional detail on our financial results and a deep dive into our commercial real estate portfolio.