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American International Group, Inc. (AIG)

NYSE - Nasdaq Real-time price. Currency in USD
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80.54+1.80 (+2.29%)
At close: 04:00PM EDT
80.50 -0.04 (-0.05%)
After hours: 07:56PM EDT
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  • Zacks

    AIG to Divest 20% Corebridge Stake to Nippon Life for $3.8B

    AIG continues to streamline its operations to intensify focus on its General Insurance business.

  • Reuters

    AIG to sell 20% stake in Corebridge to Japan's Nippon Life for $3.8 billion

    The deal is part of AIG's efforts to reduce 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. It did not specify what the proceeds from the sale would be used for, but has previously said they could be used for stock buybacks. The insurer had a nearly 53% stake in Corebridge before the latest deal, according to regulatory filings.

  • Business Wire

    AIG Announces Sale of a 20% Ownership Stake of Corebridge to Nippon Life

    NEW YORK, May 16, 2024--AIG today announced that it has reached an agreement to sell approximately 120 million shares of its Corebridge common stock to Nippon Life Insurance Company (Nippon Life) for $31.47 per share, for an aggregate purchase price of $3.8 billion. The shares represent 20% of the outstanding shares of Corebridge at signing. Under the terms of the transaction, AIG has agreed to maintain a 9.9% ownership stake in Corebridge for two years after the closing.