Equitable Highlights Growth, Corebridge Merger Plans at Annual Meeting

Key Points

• 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.

Assets and earnings growth

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.

The company’s leadership framed its strategy around changing retirement and financial-advice needs. Pearson cited longer life expectancies, more complicated retirement planning and growing demand for comprehensive financial advice as major forces affecting the industry.

“This profound need presents our industry with both an important responsibility and an extraordinary opportunity,” Pearson said.

Corebridge merger outlined

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.

Shareholders approve management proposals

During the formal business portion of the meeting, stockholders considered three management proposals:

• The election of directors for one-year terms ending at the 2027 annual meeting;
• The ratification of PricewaterhouseCoopers LLP as Equitable’s independent registered public accounting firm for fiscal 2026; and
• An advisory vote approving compensation for the company’s named executive officers.

Kurt Meyers, Equitable’s chief legal officer and corporate secretary, said preliminary results indicated that each director nominee was elected and that shareholders approved the auditor ratification and executive-compensation proposals. The company said it expects to report final voting results in a Form 8-K filing with the Securities and Exchange Commission within four business days.

Pearson also thanked departing director Bertram Scott, who is not standing for re-election after reaching the board’s mandatory retirement age. Scott joined Equitable’s board in 2019, Pearson said.

No stockholder questions were submitted during the meeting.

About Equitable (NYSE:EQH)

Equitable Holdings, Inc is a financial services company that provides retirement, life insurance and wealth management solutions. Its businesses serve individuals, families, employers and institutions through financial professionals and advisory channels.

The company's principal operations include Equitable, which offers individual life insurance, annuities, retirement plans and employee benefits, and Equitable Advisors, which provides financial planning and investment advice. Equitable Holdings also owns a majority interest in AllianceBernstein, a global investment management firm serving institutional and retail clients.

The company traces its history to 1859, when the Equitable Life Assurance Society of the United States was founded.

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