American International Group Inc.
AIG Announces Separation from Corebridge Financial
Summary
On June 9, 2024, American International Group, Inc. (AIG) announced the completion of its separation from Corebridge Financial, Inc. by waiving its right to nominate a majority of candidates to Corebridge's Board of Directors. As a result, AIG will no longer consolidate Corebridge in its financial statements. Following the separation, AIG will reflect its retained interest in Corebridge as an equity method investment. Additionally, AIG provided unaudited pro forma condensed consolidated financial statements as of and for the periods indicated, which will be reflected in its future filings beginning with its Form 10-Q for the quarter ended June 30, 2024.
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About American International Group Inc.
American International Group Inc. is a prominent multinational finance and insurance corporation. Its primary function is to provide a wide array of insurance products and services to clients globally. These offerings include general property and casualty insurance, life insurance, retirement solutions, and other financial services. AIG plays a critical role in the financial market by offering risk management solutions and safeguarding assets for both individuals and businesses. Operating across numerous sectors such as commercial, financial institutions, and personal insurance markets, AIG holds a significant presence in the global insurance landscape. The company is known for tailored products designed to meet diverse customer needs, ranging from small businesses to major corporations. Its broad market reach and longstanding industry experience make it a key player in driving insurance innovation and providing financial security. Founded in 1919 and headquartered in New York City, AIG continues to influence the financial market through strategic leadership and adaptation to changing financial and regulatory environments, consistently working towards strengthening its market position through technological advancements and sustainable practices.
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