Nippon Life Insurance Company filed an amended Schedule 13D with the SEC on October 27, 2026, disclosing open-market purchases of Corebridge Financial, Inc. common stock that brought its beneficial ownership to 29.4% of the insurer's outstanding shares.

Key Highlights

  • Shares purchased: Nippon Life acquired 4,658,665 shares of Corebridge Financial common stock between October 5, 2026 and October 23, 2026.
  • Aggregate consideration: The purchases totaled approximately $159,990,457, funded through Nippon Life's working capital.
  • Total beneficial ownership: Nippon Life now beneficially owns 131,262,715 shares, representing 29.4% of the class.
  • Record-held shares: 131,229,444 shares are held directly by Nippon Life; 33,271 shares are held by its wholly owned subsidiary Nissay Asset Management Corporation.
  • Trading plan: The purchases were executed pursuant to a previously disclosed 10b5-1 Trading Plan via open-market transactions.
  • Shares outstanding basis: The 29.4% figure is based on 445,772,522 shares outstanding as of July 31, 2026, as disclosed in Corebridge's quarterly report filed August 5, 2026.

Nippon Life Expands Its Position in Corebridge Financial Through Planned Open-Market Buying

According to the filing, Nippon Life Insurance Company, a Japan-based insurer organized under the laws of Japan, purchased 4,658,665 shares of Corebridge Financial common stock (par value $0.01 per share, CUSIP 21871X109) across a series of open-market transactions spanning October 5, 2026 through October 23, 2026. The aggregate consideration paid was approximately $159,990,457, with funds sourced from Nippon Life's working capital, as disclosed in Item 3 of the amended statement.

The filing reports that Nippon Life's total beneficial ownership now stands at 131,262,715 shares, giving it sole voting power and sole dispositive power over all of those shares, with no shared voting or dispositive power reported. Corebridge Financial, Inc. is a Houston, Texas-based financial services company whose common stock is listed on the New York Stock Exchange under the ticker NYSE:CRBG. Of the total shares beneficially owned by Nippon Life, the filing notes that 33,271 shares are held of record by Nissay Asset Management Corporation, a direct wholly owned subsidiary of the reporting person, which Nippon Life may be deemed to beneficially own.

The filing identifies October 23, 2026 as the date of the event requiring this amendment, designated Amendment No. 6 to the original Schedule 13D. Nippon Life stated it undertakes to provide, upon request by SEC staff, the issuer, or a security holder, full information regarding the number of shares purchased at each separate price for each transaction, with detailed date-by-date data provided in Annex A to the filing.

What Was Disclosed

Nippon Life Insurance Company disclosed in this Schedule 13D amendment that it purchased approximately 4.66 million additional shares of Corebridge Financial common stock for roughly $159.99 million, raising its beneficial stake to 131,262,715 shares, or 29.4% of the outstanding class.