Overview
- The insurers announced Thursday a merger that would create a company with about $1.5 trillion in assets and more than 12 million customers.
- Under the terms, each Corebridge share converts to one new share while each Equitable share converts to 1.55516 new shares, leaving Corebridge holders with about 51% ownership and Equitable holders with about 49%.
- The combined firm will use the Equitable name, trade under the EQH ticker, and base its headquarters in Houston with Corebridge chief Marc Costantini as CEO and Equitable’s Mark Pearson as executive chair.
- Management plans to move $100 billion of Corebridge assets to AllianceBernstein, Equitable’s asset manager, and projects more than 10% earnings accretion by the end of 2028 and over $5 billion in operating earnings.
- Shareholders are slated to vote in the summer of 2026, and the companies target a closing by year-end 2026 pending approvals and customary conditions.