The deal is part of AIG's efforts to sell down its holdings in the life and retirement business, which it had listed as a separate company in 2022 following years of pressure from activist investors. AIG had a nearly 53% stake in Corebridge before the latest deal, according to regulatory filings. Peter Zaffino, CEO at AIG, has committed to sell the company's remaining ownership in Corebridge, but the firm agreed to maintain a 9.9% stake for two years after the deal closes.
AIG trims Corebridge shares in $3.8bn deal with Japanese giant intelligentinsurer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from intelligentinsurer.com Daily Mail and Mail on Sunday newspapers.