American Intl Group Inc Stock Price, News & Analysis

American International Group, Inc. (NYSE: AIG) will disclose its third-quarter financial results on November 1, 2022, after market closure. This announcement will be accessible via the Investors section of their website. A conference call to discuss the results is scheduled for November 2, 2022, at 8:30 a.m. ET, available for public listening. AIG operates globally in the insurance sector, offering a range of services across 70 countries.

American International Group, Inc. (NYSE: AIG) has announced the redemption of various notes totaling $2.25 billion. The company will redeem $750 million of its 3.900% Notes Due 2026, all of its 3.750% Notes Due 2025, and $500 million of its 2.500% Notes Due 2025 on October 24, 2022. The redemption price will include accrued interest up to the redemption date. As of September 22, 2022, the outstanding amounts for the notes were $1.5 billion for the 3.900% Notes, $1.5 billion for the 2.500% Notes, and approximately $521.78 million for the 3.750% Notes.

American International Group (AIG) announced the successful closing of its initial public offering (IPO) for Corebridge Financial (CRBG), raising approximately USD 1.7 billion before deductions. Corebridge's shares began trading on the New York Stock Exchange on September 15. J.P. Morgan, Morgan Stanley, and Piper Sandler served as lead bookrunners for the offering. The IPO registration was effective on September 14, 2022, with the final prospectus available from securing institutions. The funds raised aim to fortify AIG's financial standing and support Corebridge's growth in retirement solutions.

American International Group (AIG) has priced the IPO of Corebridge Financial (CRBG) at USD 21 per share, with trading set to start on Sept. 15, 2022. AIG will offer 80 million shares, generating approximately USD 1.7 billion in gross proceeds. The offering's closing is expected on Sept. 19, 2022, pending standard conditions. J.P. Morgan leads the underwriting team. AIG has also provided a 30-day option for underwriters to purchase an additional 12 million shares. The IPO registration was effective as of Sept. 14, 2022.

American International Group, Inc. (AIG) has launched the Lexington Middle Market Casualty team, aimed at providing insurance coverage to small-to-medium-sized commercial enterprises. This new team, led by Paul McLaughlin, will cater to businesses with annual premiums ranging from $7,500 to $75,000, enhancing AIG's market reach in the SME sector. The initiative aligns with AIG's strategy to tap into the significant U.S. private sector GDP represented by SMEs and aims to offer tailored coverage in industries such as construction, manufacturing, and real estate.

American International Group, Inc. (NYSE: AIG) has launched the initial public offering (IPO) of its majority-owned subsidiary, Corebridge Financial, Inc. AIG is offering 80 million shares at an expected price of USD 21 to USD 24 per share, with an additional 12 million shares available for underwriters. All proceeds will go to AIG. Corebridge will trade under the ticker 'CRBG' on the New York Stock Exchange. J.P. Morgan, Morgan Stanley, and Piper Sandler are leading the offering. The registration statement has been filed but is not yet effective.

American International Group (AIG) announced that Peter Zaffino, AIG Chairman & Chief Executive Officer, will participate in a fireside chat at the 2022 Keefe, Bruyette & Woods Insurance Conference on Sept. 7, 2022, at 4:20 p.m. ET. An audio webcast will be available on AIG’s website, with a replay accessible afterward.

AIG is a global insurance organization providing diverse insurance and financial services in approximately 70 countries. For more information, visit www.aig.com.

American International Group, Inc. (NYSE: AIG) announced that its subsidiary, Corebridge Financial, issued $1.0 billion of 6.875% Junior Subordinated Notes due 2052. The proceeds will partially repay a remaining $1.9 billion of an $8.3 billion promissory note owed to AIG. Additionally, the commitment under a 3-Year Delayed Draw Term Loan Agreement will be reduced from $2.5 billion to $1.5 billion. The offering was made only to qualified institutional buyers under Rule 144A, and future separation transactions are uncertain and dependent on regulatory approvals.

American International Group, Inc. (NYSE: AIG) has appointed Alan Colberg and Trish Walsh to the Board of Directors of Corebridge Financial, Inc., effective September 1, 2022. Colberg, a retired CEO from Assurant, brings extensive industry experience, having led various roles for over a decade. Walsh, currently Chief Legal Officer at Stripe, previously served as Chief Legal Officer at Voya Financial. These appointments are aimed at strengthening Corebridge’s governance as it prepares for a potential standalone launch.