Nippon Life Spends About $160 Million On Corebridge Stock In Three Weeks, Lifting Its Stake To 29.4%
The Japanese insurer bought 4,658,665 shares in open-market trades from October 5 to October 23, under a previously disclosed trading plan.
Nippon Life Insurance bought 4,658,665 more shares of Corebridge Financial, the U.S. retirement and life insurer, for about $159,990,457 in open-market trades from October 5 to October 23, an amendment to its ownership filing shows. The filing, made Tuesday, puts Nippon Life's holding at 131,262,715 shares, or 29.4% of the class.
Buying on a pre-set plan
The purchases were made under a previously disclosed 10b5-1 trading plan, a pre-scheduled plan filed with the SEC. Nippon Life paid for them out of working capital, the filing says.
The 29.4% figure is measured against 445,772,522 shares outstanding as of July 31, 2026, the count given in Corebridge's quarterly report filed August 5, 2026. Of the 131,262,715 shares, 131,229,444 are held of record by Nippon Life and 33,271 by Nissay Asset Management, a wholly owned subsidiary that Nippon Life may be deemed to beneficially own.
Fourteen trade dates, one big day
The trade schedule lists buying on 14 trade dates, with weighted average prices from $32.8031 to $35.3820 per share. The largest single-day purchase was 606,912 shares on October 7, at a weighted average of $34.4038.
October 14 brought 602,103 shares at $34.0259. On October 15 the schedule shows three separate lots, including 122,762 shares at $32.8031, the low end of the range. Corebridge closed at $35.36 at Tuesday's close, for a market value of $15.5 billion.
The business behind the stake
Corebridge runs four businesses: Individual Retirement, Group Retirement, Life Insurance and Institutional Markets. Individual Retirement, which sells annuities through about 460 third-party firms as of December 31, 2025, made up 52% of adjusted pre-tax operating income for 2025. The company managed or administered $386.4 billion in client assets at the end of that year.
The amendment adds no new demands or board proposals.
Nippon Life's cover page shows sole voting power over all 131,262,715 shares.
Sources
- SCHEDULE 13D/A — Nippon Life Insurance Company re: Corebridge Financial, Inc. (CRBG) — SEC EDGAR
- SCHEDULE 13D/A Exhibit 99.A — SEC EDGAR
