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2022. AIGs life and retirement business unit, Corebridge Financial, begins publicly trading as a separate company on the New York Stock Exchange. Peter Zaffino is named Chairman of the AIG Board of Directors.
Corebridge was formed as a result of a spin-off of AIGs retirement, life insurance, and wealth management segments. In 2020, AIG announced plans to perform the spin-off with a 2022 IPO. In July 2021, the company announced that Blackstone Group would acquire 9.9% of the new unit for $2.2 billion cash.
AIG wants to try and streamline its portfolio, after a strategic review. The company believes a split into separate entities will allow it to better manage its products and services.
Were still the same great company and remain committed to helping you take action for your future.
Corebridge was formed in 2021 when AIG spun off its life and retirement business and sold a portion of the company to Blackstone for $2.2 billion. AIG took Corebridge public in September last year, in a share offering that raised $1.7 billion at $21 per share.
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Were still the same great company and remain committed to helping you take action for your future.
Corebridge was formed in 2021 when AIG spun off its life and retirement business and sold a portion of the company to Blackstone for $2.2 billion. AIG took Corebridge public in September last year, in a share offering that raised $1.7 billion at $21 per share.
AIG has launched a secondary offering of Corebridge Financial shares that will trim its holding in the now-publicly listed life and retirement business by 10 percent - or by about $1.2bn - in a transaction that would see AIGs ownership in the business shrink to 67 percent.

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