Equitable Highlights Growth, Corebridge Merger Plans at Annual Meeting

Equitable reported continued momentum: Assets under management and administration reached a record $1.2 trillion as of June 30, up 10% year over year, while first-half 2026 non-GAAP EPS increased 25%. The company highlighted strategic moves including reinsuring 75% of its in-force life insurance block to RGA, increasing its AllianceBernstein stake and acquiring Stifel Independent Advisors. Equitable’s planned merger of equals with Corebridge is expected to create a more diversified financial-services company spanning retirement, wealth management, asset management and protection; Mark Pearson will become executive chair, while Marc Costantini will serve as CEO.

Equitable NYSE: EQH highlighted continued business momentum, strategic portfolio changes and its planned merger of equals with Corebridge during its 2026 annual meeting of stockholders. President and Chief Executive Officer Mark Pearson said 2025 was marked by “strong execution and meaningful progress” toward the company’s strategic growth plans. He pointed to actions intended to strengthen Equitable’s balance sheet and reshape its business mix, including the reinsurance of 75% of its in-force life insurance block to RGA, an increased ownership stake in AllianceBernstein, and the announced acquisition of Stifel Independent Advisors.

Pearson said business momentum continued into 2026, with organic growth across the company’s businesses. Assets under management and administration reached a record $1.2 trillion as of June 30, representing a 10% increase from the prior year, according to Pearson. He also said non-GAAP earnings per share rose 25% during the first half of 2026. Pearson said the performance kept the company on track to meet its 2026 financial targets and supported its confidence in the long-term objectives previously outlined at its Investor Day.

Pearson described Equitable’s previously announced merger of equals with Corebridge as a defining moment for the company. He said the transaction follows years of efforts to build a more diversified and resilient financial institution after Equitable became an independent U.S.-listed company in 2018. According to Pearson, Equitable and Corebridge have complementary strengths and limited overlap. The combined organization is expected to hold positions across retirement, wealth management, asset management and protection solutions. Pearson said the merger would provide a more diversified earnings mix, enhanced cash generation and greater financial flexibility. He also said the combined company would have greater scale, capabilities and distribution resources to connect more clients with financial advice and solutions. Upon the merger’s closing, Pearson said he will serve as executive chair of the combined company, while Marc Costantini will become chief executive officer.