Corebridge Brings Crypto to Indexed Annuities
Corebridge Financial has introduced the Invesco New Economy Index, providing exposure to cryptocurrency through the Corebridge Power Select Index Annuities.
The Invesco New Economy Index aims to deliver strong risk-adjusted returns through allocations to two exchange-traded products, Invesco QQQ ETF (QQQ) and Invesco Galaxy Bitcoin ETF (BTCO). The new index is available exclusively in Power Select Index Annuities, which are part of the Corebridge family of index annuities and distributed by Market Synergy Group (MSG).
Invesco QQQ ETF tracks the performance of the Nasdaq-100 Index, while the Invesco Galaxy Bitcoin ETF aims to track the spot price of bitcoin.
“Corebridge Financial has long brought innovation and advancement to the annuity industry, and we are excited to do so again in partnership with Invesco and Market Synergy Group,” said Bryan Pinsky, president of Individual Retirement and Life Insurance at Corebridge Financial. “We look forward to delivering this opportunity to our partners and their clients – a compelling combination of growth potential from new economic drivers alongside the principal protection and protected lifetime income that are fundamental to index annuities.”
“Invesco is proud to bring together two of its most high demand investment capabilities in the Invesco New Economy Index, a tailored investment solution for Corebridge Financial,” said Peter Miller, head of Client Investment Solutions, North America, Invesco. “The dual allocation to Nasdaq-100 companies and spot bitcoin is another example of the innovative solutions Invesco can provide insurance companies looking to stay ahead of client demand.”
The Power Select Index Annuities are issued by American General Life Insurance Company (AGL), a member company of Corebridge Financial, Inc.