AIG Set to Exit Corebridge Financial With $710M Stake Sale

Here are some details:

• AIG has agreed to sell roughly 25 million shares of Corebridge for roughly $710 million. The sale is expected to close on May 7.
• AIG carved out its life insurance and retirement division Corebridge through an initial public offering in 2022.
• “We have transformed AIG into a more focused, leading, global property & casualty insurance company,” CEO Peter Zaffino says.
• Corebridge shares fell 2.5% in extended trading.

Related: AIG Underwriting Income More Than Triples in Q1