AIG Announces Board of Directors for Corebridge Financial as it Prepares its Life & Retirement Business to be a Standalone Company
NEW YORK, March 28, 2022–(Enterprise WIRE)–American Worldwide Team, Inc. (NYSE: AIG) now declared Directors for the Board of Administrators (Board) of Corebridge Financial, Inc. as it proceeds to get ready its Lifestyle & Retirement small business to be a standalone corporation.
“Demonstrating one more important milestone toward the separation of Lifestyle & Retirement from AIG, I am pleased to announce a team of attained, expert and really credible Directors for Corebridge Fiscal, the earlier announced new identify for this business,” stated Peter Zaffino, Chairman & Main Government Officer of AIG. “We are dedicated to fantastic corporate governance, which starts with Administrators who bring varied perspectives, activities, backgrounds, and insights to the boardroom.”
Peter Zaffino serves as Chairman of Corebridge Economical, and the Board will contain the subsequent impartial administrators:
– Alan Colberg, Retired Chief Govt Officer, Assurant, Inc.
– Christopher Lynch, former Nationwide Companion in Demand of KPMG LLP’s Economical Services Line of Small business
– Amy Schioldager, former Senior Running Director and World Head of Beta Strategies at BlackRock, Inc.
– Trish Walsh, Main Authorized Officer, Stripe, Inc.
Jonathan Gray, President & Main Working Officer, Blackstone, Inc. joined the Board in November 2021 subsequent Blackstone’s 9.9 p.c fairness financial investment in the enterprise. Kevin Hogan, Chief Government Officer of Corebridge Fiscal, is also a member of the Board.
AIG expects to continue on to own much more than 50 percent of Corebridge Money following its first general public offering (IPO), therefore, an supplemental 6 administrators will be senior executives of AIG.
No assurance can be supplied relating to the kind that potential separation transactions could acquire or the particular terms or timing thereof, or that a separation will in reality occur. Any separation transaction will be subject to the satisfaction of many situations and approvals, which includes receipt of insurance coverage section and other necessary regulatory approvals, and fulfillment of any applicable prerequisites of the Securities and Exchange Commission (SEC).
This information launch is not an offer you to offer, or a solicitation of an offer you to buy, any securities.
Mr. Zaffino has served as Chairman of the Board of Corebridge Money considering the fact that November 2021. He grew to become Chairman of the Board of AIG in January 2022. Mr. Zaffino has served as Main Government Officer of AIG since March 2021 and President considering the fact that January 2020. He joined AIG in July 2017 as Government Vice President, World Chief Functioning Officer and was also appointed Main Executive Officer, Normal Insurance policies in November 2017. Prior to signing up for AIG, Mr. Zaffino served in many government roles at Marsh McLennan, a international expert providers company, which includes as Chairman for the Threat and Insurance plan Solutions section from 2015 to 2017 and Chief Govt Officer of Marsh, LLC from 2011 to 2017. Prior to that, Mr. Zaffino served as President and Chief Government Officer of Person Carpenter, a subsidiary of Marsh McLennan, from 2008 to 2011, a firm he initial joined in 2001.
Mr. Colberg is predicted to be a part of the Board as of the date of the IPO. He previously served as the Main Government Officer and a Director of Assurant, Inc. from January 2015 until his retirement in January 2022. Prior to this part, he held various positions at Assurant, such as Executive Vice President of Marketing and advertising and Organization Development. Before signing up for Assurant in March 2011, Mr. Colberg was a consultant for Bain & Organization, Inc. for 22 decades, main the firm’s global fiscal companies practice.
Mr. Hogan has served as a Director of Corebridge Monetary considering that June 2021. Mr. Hogan has also served as President and Chief Govt Officer of Corebridge Fiscal considering that December 2014. He was also a founding board member of Alliance for Life time Revenue, the place he at the moment serves as a director. Mr. Hogan started off his occupation in 1984 at AIG in New York, and subsequently held administration positions in AIG Residence Casualty in Chicago, Tokyo, Hong Kong, Singapore and China and AIG Lifetime & Retirement in China, Taiwan, and New York. From 2009 until eventually rejoining AIG in 2013, he was Main Government Officer, World Life for the Zurich Insurance policies Team. Prior to his present-day function, he served as Main Executive Officer of AIG’s Customer firm and senior officer for Japan.
Mr. Grey has served as a Director of Corebridge Monetary given that November 2021, following the closing of Blackstone’s 9.9% fairness investment in AIG’s Lifetime & Retirement enterprise. Mr. Grey is the President and Main Operating Officer of Blackstone Inc., getting joined Blackstone Inc. in 1992. Mr. Grey is a member of Blackstone Inc.’s Administration Committee and earlier served as its World-wide Head of True Estate. Mr. Grey has served as a board member of Blackstone Inc. given that February 2012, and as Chair of the Hilton All over the world Holdings Board of Administrators in which he now serves as a director.
Mr. Lynch has served as a Director of Corebridge Economical given that November 2021. Mr. Lynch has been an unbiased specialist given that 2007, delivering a assortment of solutions to public and privately held corporations. Prior to that, Mr. Lynch was the former National Companion in Demand of KPMG LLP’s Economical Expert services Line of Company. He held a wide variety of positions with KPMG about his 29-calendar year vocation, which include chairing KPMG’s Americas Economic Services Management workforce and staying a member of the World wide Money Providers Management and the U.S. Industries Management teams. Mr. Lynch also served as a Associate in KPMG’s Countrywide Section of Specialist Observe and as a Practice Fellow at the Economic Accounting Criteria Board. Mr. Lynch now serves as a director of AIG. Mr. Lynch will not stand for re-election to the AIG Board at the Yearly Assembly in Might 2022.
Ms. Schioldager has served as a Director of Corebridge Monetary given that November 2021. Ms. Schioldager is the previous Senior Managing Director and Worldwide Head of Beta Procedures at BlackRock, Inc. a worldwide expenditure management corporation. In this function, which she held from 2006 to 2017, Ms. Schioldager was liable for taking care of the Index Fairness business enterprise across 7 global workplaces. Through her more than 25 yrs at BlackRock, Ms. Schioldager held different other leadership positions and also served as a member of the World wide Govt Committee from 2012 to 2017 and Vice Chair of the Company Governance Committee from 2008 to 2015. She also launched and led BlackRock’s Women’s Initiative. Ms. Schioldager currently serves as director of AIG. Ms. Schioldager will not stand for re-election to the AIG Board at the Annual Meeting in May perhaps 2022.
Ms. Walsh is predicted to be part of the Board as of the day of the IPO. She has served as Main Authorized Officer of Stripe Inc. given that January 2020. Prior to becoming a member of Stripe, Ms. Walsh served as Main Authorized Officer for Voya Economical, Inc. from 2015 to 2020. In advance of joining Voya, Ms. Walsh served as Deputy Normal Counsel at Cigna and at MassMutual. Prior to that, Ms. Walsh was an affiliate at Cleary, Gottlieb, Steen & Hamilton LLP and also labored for the Business office of the Basic Counsel at the SEC.
American Intercontinental Group, Inc. (AIG) is a main world wide insurance policy firm. AIG member businesses provide a vast assortment of assets casualty insurance plan, everyday living insurance coverage, retirement remedies, and other financial providers to prospects in about 70 nations and jurisdictions. These diverse choices contain items and solutions that assist businesses and individuals shield their assets, control danger, and provide for retirement security. AIG popular inventory is mentioned on the New York Inventory Exchange.
Added facts about AIG can be observed at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with extra info about AIG have been offered as a usefulness, and the info contained on these internet sites is not integrated by reference into this push release.
AIG is the internet marketing identify for the throughout the world house-casualty, lifetime and retirement, and normal coverage operations of American Worldwide Group, Inc. For further info, be sure to go to our web page at www.aig.com. All products and solutions and expert services are composed or furnished by subsidiaries or affiliates of American Worldwide Group, Inc. Solutions or companies could not be available in all international locations and jurisdictions, and protection is issue to underwriting specifications and genuine policy language. Non-insurance policies merchandise and providers may be delivered by impartial third functions. Sure residence-casualty coverages could be furnished by a surplus strains insurance company. Surplus traces insurers do not typically take part in state guaranty cash, and insureds are consequently not safeguarded by these types of funds.
About AIG’s Lifestyle & Retirement Company
AIG’s Lifestyle & Retirement small business, which will be renamed Corebridge Economical as of day of its IPO, brings collectively a wide portfolio of defense, retirement financial savings, investment, and life span income alternatives to assist people today reach economic and retirement protection. The company is composed of 4 operating segments – Specific Retirement, AIG Retirement Providers, Existence Insurance coverage, and Institutional Marketplaces – and retains longstanding, primary market place positions in several of the marketplaces it serves.
AIG’s Daily life & Retirement organization incorporates AIG member insurance corporations American Normal Everyday living Coverage Firm (Houston, TX), The United States Existence Insurance Enterprise in the Metropolis of New York, and The Variable Annuity Life Insurance Enterprise (VALIC), Houston, TX as very well as their affiliates. AIG’s Life & Retirement business also consists of the United kingdom lifestyle insurance coverage company AIG Daily life Restricted and Laya Health care in Ireland. Securities merchandise are distributed by AIG Capital Solutions, Inc., member FINRA. Added details about AIG Everyday living & Retirement can be uncovered at lifeandretirement.aig.com.
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