Corebridge Financial Inc. CRBG

Competitive advantage analysis · financial-services

Asset Management Specialized
Overall moat score
34/100
Developing

About Corebridge Financial Inc.

Corebridge Financial, Inc. provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index and registered index-linked, and variable annuities. The Group Retirement segment offers in-plan products and services comprising an open architecture recordkeeping platform that allows plan … Full CRBG analysis →

Competitive advantage assessment

Key strengths

  • Sticky AUM Base Revenue stickiness is high (stability score 0.79).
  • Improving Margin Trajectory Margin trajectory is improving (trend score 0.68).

Key risks

  • Below-Peer Return on Equity Return on equity lags peers (score 0.18).
  • Fee Margin Pressure Fee margin quality is below peers (score 0.10).

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Fee Revenue Quality

Weak
24

Where CRBG ranks in Asset Management

Corebridge Financial Inc. ranks #141 of 173 scored companies in Asset Management by moat score — the top 82%. The widest moat in the group is Sound Point Meridian Capital Inc (SPMC) at 77/100.

Moat scores for companies ranked near CRBG in Asset Management
# Company Moat score Rating
137 Brookfield Business Corporation BBUC 35/100 Developing
138 Chicago Atlantic BDC, Inc. LIEN 35/100 Developing
139 Ellington Credit Company EARN 34/100 Developing
140 Horizon Technology Finance Corp HRZN 34/100 Developing
141 Corebridge Financial Inc. CRBG 34/100 Developing
142 Rand Capital Corporation RAND 33/100 Developing
143 KKR & Co. Inc. KKR 32/100 Developing
144 The Marygold Companies, Inc. MGLD 32/100 Developing
145 RiverNorth Flexible Municipal Income Fund Inc RFM 32/100 Developing

See every Asset Management & Capital Markets company ranked by moat score →

How CRBG scores on the Asset Management Specialized defenses

Fee Revenue Quality

Score 24 · 20% of the moat score

Fee revenue quality is the ability to charge above the industry's falling average and keep charging it.

Client Retention & Revenue Stickiness

Score 58 · 18% of the moat score

Assets under management leave far more easily than they arrive, and the fee leaves with them.

Compensation Discipline

Score 33 · 18% of the moat score

Compensation is the largest expense in asset management and the one that decides whether a good year ever reaches shareholders.

Capital Efficiency

Score 20 · 20% of the moat score

Asset managers are asset-light: with little capital employed, a healthy business should earn a very high return on equity, and a merely average one is a real warning.

Earnings Quality & Cash Conversion

Score 33 · 14% of the moat score

Reported profits here can be flattered by performance fees, seed-capital gains and consolidated fund accounting, none of which recur reliably.

Balance Sheet Strength

Score 37 · 10% of the moat score

Because the business needs so little capital, an asset manager carrying meaningful debt has usually borrowed to buy another manager or to fund distributions.

How each Asset Management Specialized defense is measured, in full →

Understanding CRBG's moat

What is Corebridge Financial Inc.'s moat score?

Corebridge Financial Inc. (CRBG) scores 34 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #141 of 173 scored companies in Asset Management, the top 82%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 174 companies in Asset Management. Its strongest defense is Client Retention & Revenue Stickiness (58/100) and its weakest is Capital Efficiency (20/100).

How does Corebridge Financial Inc. compare with other Asset Management companies?

Corebridge Financial Inc. ranks #141 of 173 scored companies in Asset Management by moat score. The widest moat in Asset Management is Sound Point Meridian Capital Inc (SPMC) at 77/100. The companies ranked closest are Horizon Technology Finance Corp (HRZN) at 34 just above it and Rand Capital Corporation (RAND) at 33 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Asset Management Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 174 companies in Asset Management. The defenses are then weighted to produce the overall score out of 100.

Why is Corebridge Financial Inc. scored with the Asset Management Specialized template?

An asset manager owns almost nothing. It charges a fee on someone else's money, pays much of that fee out in compensation, and keeps the remainder — so its economics turn on the fee rate it can defend, whether client money stays, and how much revenue survives the bonus pool. The Asset Management template scores those questions rather than the balance sheet, which in this industry is largely beside the point.

Which competitive defenses are measured for Corebridge Financial Inc.?

The Asset Management Specialized template measures 6 defenses, and CRBG scores: Fee Revenue Quality (24), Client Retention & Revenue Stickiness (58), Compensation Discipline (33), Capital Efficiency (20), Earnings Quality & Cash Conversion (33), Balance Sheet Strength (37). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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