NEW YORK, March 28, 2022–(Small business WIRE)–American International Group, Inc. (NYSE: AIG) nowadays introduced Administrators for the Board of Directors (Board) of Corebridge Monetary, Inc. as it proceeds to put together its Everyday living & Retirement business to be a standalone company.
“Demonstrating one more critical milestone toward the separation of Life & Retirement from AIG, I am delighted to announce a team of accomplished, knowledgeable and very credible Directors for Corebridge Monetary, the formerly declared new identify for this business,” claimed Peter Zaffino, Chairman & Main Govt Officer of AIG. “We are committed to exceptional corporate governance, which commences with Administrators who bring diverse perspectives, encounters, backgrounds, and insights to the boardroom.”
Peter Zaffino serves as Chairman of Corebridge Monetary, and the Board will include the following unbiased administrators:
– Alan Colberg, Retired Main Government Officer, Assurant, Inc.
– Christopher Lynch, previous Nationwide Associate in Demand of KPMG LLP’s Economical Services Line of Business enterprise
– Amy Schioldager, former Senior Taking care of Director and International Head of Beta Approaches at BlackRock, Inc.
– Trish Walsh, Main Lawful Officer, Stripe, Inc.
Jonathan Gray, President & Main Running Officer, Blackstone, Inc. joined the Board in November 2021 next Blackstone’s 9.9 % fairness financial commitment in the organization. Kevin Hogan, Main Govt Officer of Corebridge Money, is also a member of the Board.
AIG expects to keep on to possess more than 50 per cent of Corebridge Monetary pursuing its first community giving (IPO), consequently, an further 6 administrators will be senior executives of AIG.
No assurance can be offered regarding the sort that long run separation transactions could acquire or the distinct conditions or timing thereof, or that a separation will in point come about. Any separation transaction will be subject matter to the satisfaction of several situations and approvals, such as receipt of insurance plan division and other necessary regulatory approvals, and satisfaction of any applicable requirements of the Securities and Trade Commission (SEC).
This information launch is not an give to sell, or a solicitation of an offer to acquire, any securities.
Mr. Zaffino has served as Chairman of the Board of Corebridge Economic considering the fact that November 2021. He became Chairman of the Board of AIG in January 2022. Mr. Zaffino has served as Chief Executive Officer of AIG considering that March 2021 and President since January 2020. He joined AIG in July 2017 as Government Vice President, World-wide Main Running Officer and was also appointed Chief Executive Officer, Common Coverage in November 2017. Prior to joining AIG, Mr. Zaffino served in a variety of government roles at Marsh McLennan, a global expert expert services company, such as as Chairman for the Danger and Insurance policies Solutions phase from 2015 to 2017 and Main Government Officer of Marsh, LLC from 2011 to 2017. Prior to that, Mr. Zaffino served as President and Main Govt Officer of Male Carpenter, a subsidiary of Marsh McLennan, from 2008 to 2011, a business he very first joined in 2001.
Mr. Colberg is anticipated to be a part of the Board as of the day of the IPO. He previously served as the Chief Executive Officer and a Director of Assurant, Inc. from January 2015 right up until his retirement in January 2022. Prior to this purpose, he held several positions at Assurant, which include Executive Vice President of Advertising and Enterprise Progress. In advance of signing up for Assurant in March 2011, Mr. Colberg was a consultant for Bain & Business, Inc. for 22 decades, leading the firm’s world-wide money companies apply.
Mr. Hogan has served as a Director of Corebridge Economic since June 2021. Mr. Hogan has also served as President and Main Govt Officer of Corebridge Economic considering that December 2014. He was also a founding board member of Alliance for Life time Earnings, wherever he currently serves as a director. Mr. Hogan started off his vocation in 1984 at AIG in New York, and subsequently held administration positions in AIG House Casualty in Chicago, Tokyo, Hong Kong, Singapore and China and AIG Existence & Retirement in China, Taiwan, and New York. From 2009 until rejoining AIG in 2013, he was Chief Government Officer, International Lifetime for the Zurich Insurance plan Group. Prior to his existing role, he served as Main Govt Officer of AIG’s Shopper corporation and senior officer for Japan.
Mr. Grey has served as a Director of Corebridge Economical given that November 2021, following the closing of Blackstone’s 9.9% fairness financial investment in AIG’s Everyday living & Retirement enterprise. Mr. Grey is the President and Main Running Officer of Blackstone Inc., having joined Blackstone Inc. in 1992. Mr. Grey is a member of Blackstone Inc.’s Management Committee and beforehand served as its International Head of Genuine Estate. Mr. Grey has served as a board member of Blackstone Inc. since February 2012, and as Chair of the Hilton Around the world Holdings Board of Directors exactly where he now serves as a director.
Mr. Lynch has served as a Director of Corebridge Economic due to the fact November 2021. Mr. Lynch has been an impartial specialist due to the fact 2007, furnishing a assortment of expert services to public and privately held firms. Prior to that, Mr. Lynch was the former Countrywide Companion in Demand of KPMG LLP’s Monetary Expert services Line of Enterprise. He held a selection of positions with KPMG in excess of his 29-12 months job, like chairing KPMG’s Americas Fiscal Solutions Management workforce and remaining a member of the World wide Financial Solutions Management and the U.S. Industries Management teams. Mr. Lynch also served as a Associate in KPMG’s National Department of Qualified Follow and as a Exercise Fellow at the Economic Accounting Criteria Board. Mr. Lynch presently serves as a director of AIG. Mr. Lynch will not stand for re-election to the AIG Board at the Annual Assembly in May possibly 2022.
Ms. Schioldager has served as a Director of Corebridge Monetary due to the fact November 2021. Ms. Schioldager is the previous Senior Running Director and World-wide Head of Beta Techniques at BlackRock, Inc. a worldwide expenditure management corporation. In this role, which she held from 2006 to 2017, Ms. Schioldager was responsible for handling the Index Equity organization throughout 7 worldwide places of work. In the course of her extra than 25 many years at BlackRock, Ms. Schioldager held various 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 at this time serves as director of AIG. Ms. Schioldager will not stand for re-election to the AIG Board at the Yearly Conference in May possibly 2022.
Ms. Walsh is envisioned to join the Board as of the day of the IPO. She has served as Main Authorized Officer of Stripe Inc. because January 2020. Prior to becoming a member of Stripe, Ms. Walsh served as Main Authorized Officer for Voya Fiscal, Inc. from 2015 to 2020. In advance of becoming a member of Voya, Ms. Walsh served as Deputy Standard Counsel at Cigna and at MassMutual. Prior to that, Ms. Walsh was an associate at Cleary, Gottlieb, Steen & Hamilton LLP and also worked for the Business office of the Basic Counsel at the SEC.
American Worldwide Group, Inc. (AIG) is a primary world wide insurance policies corporation. AIG member businesses present a extensive range of assets casualty insurance, existence insurance, retirement options, and other economical expert services to consumers in close to 70 countries and jurisdictions. These various choices incorporate merchandise and solutions that enable enterprises and people today shield their assets, control threat, and give for retirement safety. AIG popular inventory is mentioned on the New York Stock Trade.
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AIG is the promoting title for the around the globe house-casualty, everyday living and retirement, and typical coverage operations of American Worldwide Group, Inc. For supplemental data, please stop by our site at www.aig.com. All goods and companies are published or offered by subsidiaries or affiliates of American Intercontinental Group, Inc. Items or providers could not be out there in all countries and jurisdictions, and protection is topic to underwriting needs and real policy language. Non-insurance plan products and solutions and solutions may be supplied by unbiased 3rd events. Particular home-casualty coverages may perhaps be delivered by a surplus strains insurance company. Surplus strains insurers do not typically take part in point out guaranty funds, and insureds are consequently not guarded by these types of money.
About AIG’s Everyday living & Retirement Organization
AIG’s Everyday living & Retirement small business, which will be renamed Corebridge Financial as of day of its IPO, provides alongside one another a broad portfolio of safety, retirement discounts, investment decision, and life time earnings solutions to help individuals obtain economic and retirement safety. The enterprise is composed of four running segments – Specific Retirement, AIG Retirement Products and services, Life Insurance plan, and Institutional Markets – and retains longstanding, primary market positions in numerous of the marketplaces it serves.
AIG’s Everyday living & Retirement business enterprise consists of AIG member insurance policies organizations American Typical Lifetime Insurance policy Company (Houston, TX), The United States Everyday living Insurance plan Business in the City of New York, and The Variable Annuity Everyday living Insurance plan Business (VALIC), Houston, TX as effectively as their affiliate marketers. AIG’s Lifetime & Retirement small business also contains the Uk existence insurance coverage business AIG Lifetime Minimal and Laya Healthcare in Eire. Securities goods are dispersed by AIG Money Providers, Inc., member FINRA. Added information and facts about AIG Life & Retirement can be identified at lifeandretirement.aig.com.
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