06:37 AM EDT, 03/26/2026 (MT Newswires) -- Corebridge Financial ( CRBG ) and Equitable (EQH) said Thursday that they have agreed to combine in an all-stock merger valuing the combined company at about $22 billion.

The companies said the deal will create a retirement, life insurance, wealth and asset management firm with about $1.5 trillion in assets under management and administration and more than 12 million customers.

Corebridge shareholders will receive one share in the new parent company for each share held, while Equitable shareholders will receive 1.55516 shares, the companies said.

After closing, Corebridge investors will own about 51% of the combined company and Equitable shareholders about 49%, the parties said.

The merged entity will operate under the Equitable name and trade under the ticker "EQH" on the NYSE, with headquarters in Houston, the companies said.

The deal is expected to be completed by the end of the year, the companies said.