American International Group, Inc. (NYSE: AIG) has announced that it plans to rebrand SAFG Retirement Services, Inc., the parent company of its Life & Retirement business, as Corebridge Financial, Inc. when it becomes a public company.
“The announcement represents continued progress as we prepare our Life & Retirement business to be a standalone company,” said Peter Zaffino, Chairman & CEO, AIG.
AIG’s Life & Retirement business is one of the largest providers of retirement solutions and insurance products in the United States. The Individual Retirement, Group Retirement, Life Insurance and Institutional Markets businesses provide solutions that help individuals, and the institutions that support them, address today’s complex financial and retirement needs.
“Our team of committed colleagues work hard every day to find solutions that allow people to take action and build a secure bridge to their financial futures,” said Kevin Hogan, Executive Vice President and Chief Executive Officer of Life & Retirement. “As Corebridge, we will continue to proudly partner with financial and retirement professionals to help their clients feel confident and motivated today, and in control of their tomorrow.”
No assurance can be given regarding the form that future separation transactions may take or the specific terms or timing thereof, or that a separation will in fact occur. Any separation transaction will be subject to the satisfaction of various conditions and approvals, including receipt of insurance department and other required regulatory approvals, and satisfaction of any applicable requirements of the Securities and Exchange Commission (SEC).
This news release is not an offer to sell, or a solicitation of an offer to buy, any securities.