Corebridge Financial Completes Sale of Laya Healthcare to AXA

Rhea-AI Summary

Corebridge Financial, Inc. has completed the sale of Laya Healthcare Limited to a subsidiary of AXA S.A. Laya healthcare is the second largest health insurance provider in Ireland and offers various health insurance products and services, as well as life insurance and travel insurance.

HOUSTON--(BUSINESS WIRE)-- Corebridge Financial, Inc. (NYSE: CRBG) today announced that it has successfully completed the previously announced sale of Laya Healthcare Limited (“laya healthcare”) to a subsidiary of AXA S.A. (“AXA”).

Laya healthcare, which is the second largest health insurance provider in Ireland, is a full-service managing general agent headquartered in Cork, Ireland and offers a diverse suite of innovative health insurance products and services in Ireland, along with life insurance and travel insurance.

Morgan Stanley & Co. LLC acted as financial advisor and A&L Goodbody LLP acted as legal counsel to Corebridge.

About Corebridge Financial

Corebridge Financial, Inc. makes it possible for more people to take action in their financial lives. With more than $370 billion in assets under management and administration as of June 30, 2023, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us on LinkedIn and YouTube.

About AIG

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide insurance solutions that help businesses and individuals in approximately 70 countries and jurisdictions protect their assets and manage risks. For additional information, visit www.aig.com. AIG common stock is listed on the New York Stock Exchange.

AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231031951649/en/

Corebridge Contacts

Işıl Müderrisoğlu (Investors): investorrelations@corebridgefinancial.com

Matt Ward (Media): media.contact@corebridgefinancial.com

AIG Contacts

Quentin McMillan (Investors): quentin.mcmillan@aig.com

Dana Ripley (Media): dana.ripley@aig.com

Source: Corebridge Financial

FAQ

What is the name of the company that completed the sale of Laya Healthcare Limited?

Corebridge Financial, Inc.

Who is the buyer of Laya Healthcare Limited?

A subsidiary of AXA S.A.

What is the business of Laya Healthcare Limited?

Laya healthcare is the second largest health insurance provider in Ireland and offers health insurance products and services, life insurance, and travel insurance.

Who acted as the financial advisor in the sale?

Morgan Stanley & Co. LLC

Who acted as the legal counsel in the sale?

A&L Goodbody LLP