American International Group, Inc. - AIG STOCK NEWS

American International Group (AIG) announced the conclusion of its cash purchase Offers for Notes, raising the Maximum Purchase Consideration from $6 billion to $7.06 billion. The Offers, which expired on April 6, 2022, resulted in a substantial $10.95 billion in Notes validly tendered. AIG accepted $6.80 billion in Notes for purchase, primarily from series of Acceptance Priority Levels 1-14 and 16. Holders of accepted Notes will receive cash payments on the Initial Settlement Date of April 8, 2022. The press release is not an offer to purchase or sell securities.

American International Group (AIG) has announced the pricing terms for its tender offers to purchase outstanding notes totaling up to $6 billion. The offers include several series of Fixed Spread Notes, with detailed terms provided in the Offer to Purchase and related documents. The expiration for these offers is set for 5:00 p.m. on April 6, 2022, with additional deadlines for guaranteed delivery. Key financial metrics include various Total Considerations based on the series of notes, highlighting investments across different maturity dates.

AIG Retirement Services has launched the FutureFIT® Wellness Check, an interactive tool designed to help retirement plan participants enhance their financial wellness. This assessment provides personalized action plans that cover budgeting, savings, debt management, and retirement planning for all eligible employees. Chief Distribution Officer Gilliane Isabelle emphasized AIG's commitment to improving retirement planning accessibility. The tool aims to boost employee engagement in financial planning by offering easily digestible education modules.

American International Group (AIG) has launched 23 separate offers to purchase outstanding notes totaling up to $6 billion in cash. The Offers will prioritize the acceptance of Notes based on predefined levels, ensuring all validly tendered Notes are accepted without proration. The Offers are contingent upon a repayment condition from Corebridge Financial of at least $5.5 billion and are scheduled to expire on April 6, 2022. Holders may withdraw their tenders prior to this date. The firm retains discretionary rights to amend the terms of the Offers if necessary.

American International Group (AIG) announced that its subsidiary, Corebridge Financial, intends to offer senior unsecured notes in connection with the separation of AIG's Life & Retirement business. The offering will be a private placement exempt from U.S. Securities Act registration, targeting qualified institutional buyers and non-U.S. persons. This announcement does not constitute an offer or solicitation for the Notes, which will be detailed in an offering memorandum sent to potential investors. Forward-looking statements indicate potential uncertainties affecting results.

American International Group (AIG) has announced the appointment of a new Board of Directors for Corebridge Financial, its Life & Retirement business, reflecting progress towards its intended separation. Peter Zaffino, AIG's CEO, emphasizes the board’s diverse expertise aimed at strong corporate governance. Independent directors include leaders from notable firms like Assurant and BlackRock. AIG will retain over 50% ownership post-IPO, with senior AIG executives also on the board. Specific details on potential separation timelines and terms remain uncertain, pending regulatory approvals.

American International Group (NYSE: AIG) plans to rebrand its Life & Retirement business as Corebridge Financial, Inc. The transition aims to prepare the business for its future as a standalone public company. AIG's Life & Retirement segment is a leading provider of retirement solutions in the U.S., offering individual and group retirement plans, life insurance, and more. CEO Peter Zaffino emphasized this move as a step towards enhancing the company's independent identity. No specific timeline or details regarding the separation have been provided.

American International Group (AIG) and BlackRock have formed strategic partnerships for managing significant assets. BlackRock will oversee up to $60 billion in liquid fixed income and private placement assets for AIG and up to $90 billion for AIG's Life & Retirement business. The partnerships will leverage BlackRock’s Aladdin technology for investment management, enhancing operational flexibility and long-term value for stakeholders. This collaboration marks a step towards AIG's plans for the separation of its Life & Retirement business.

AIG Life & Retirement has been awarded DALBAR's Customer Experience Excellence Award for three consecutive years, emphasizing its strong customer service across multiple channels. It is the only company recognized for excellence in annuities, reflecting its commitment to delivering high-quality service. AIG Life & Retirement has also secured the #1 ranking for variable annuity statements for 21 years and received the Annuity Service Award for 15 years, highlighting its reliability and consistency in customer satisfaction.