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American International Group Inc. (AIG) is a global insurance leader providing risk management solutions across 80+ countries. This page serves as your definitive source for AIG-related news, offering investors and professionals timely updates on corporate developments.
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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
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.
American International Group (AIG) has appointed John Rice as a Director, effective March 17, 2022. Rice, aged 65, is the former Chairman of GE Gas Power and has held various leadership roles at General Electric, enhancing AIG's Board with his extensive global experience. Chairman and CEO Peter Zaffino expressed confidence in Rice's contributions towards AIG's strategic objectives. Rice's international dealings in markets such as Hong Kong and Singapore will provide valuable insights as AIG aims to enhance its market performance.
AIG Life & Retirement has launched the X5 Accelerator Annuity in collaboration with Annexus, enhancing retirement income planning for consumers. The annuity features a 35% income base bonus on purchase and a multiplier that can increase lifetime income by 250% during accumulation. Exclusive indices developed by PIMCO and Morgan Stanley provide growth potential while protecting the principal against market downturns. Additional benefits include enhanced inheritance options and increased annual income for policyholders confined to care facilities.
AIG has committed to achieving Net Zero GHG emissions across its global underwriting and investment portfolios by 2050, or sooner, complementing its earlier operational targets. The company will transition to 100% Renewable Energy for its operations by 2030. Immediate actions include halting investments in new coal energy projects and phased underwriting cessation for clients reliant on fossil fuels. AIG aims to align its targets with the Paris Agreement goals and will share science-based metrics for its sustainability roadmap soon.
AIG Life & Retirement has launched the "FutureU Scholars" program to enhance financial education and career readiness for students at Historically Black Colleges and Universities (HBCUs) and high schools in Greater Houston. The initiative includes scholarships of up to $5,000 for participating students and aims to reach over 5,000 students through financial literacy courses developed with EVERFI. Virtual events and resources will be provided to empower students in financial planning, budgeting, and career opportunities, demonstrating AIG's commitment to diversity, equity, and inclusion.
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