AIG Announces Board of Directors for Corebridge Financial as it Prepares its Life & Retirement Business to be a Standalone Company

Elbert Grims

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NEW YORK, March 28, 2022–(Company WIRE)–American Worldwide Group, Inc. (NYSE: AIG) nowadays declared Administrators for the Board of Directors (Board) of Corebridge Money, Inc. as it continues to get ready its Daily life & Retirement business to be a standalone firm.

“Demonstrating yet another crucial milestone towards the separation of Daily life & Retirement from AIG, I am delighted to announce a group of accomplished, knowledgeable and extremely credible Administrators for Corebridge Fiscal, the earlier declared new name for this company,” reported Peter Zaffino, Chairman & Main Government Officer of AIG. “We are committed to extraordinary corporate governance, which commences with Administrators who deliver numerous views, encounters, backgrounds, and insights to the boardroom.”

Peter Zaffino serves as Chairman of Corebridge Economical, and the Board will incorporate the adhering to impartial directors:

– Alan Colberg, Retired Chief Executive Officer, Assurant, Inc.
– Christopher Lynch, former National Partner in Charge of KPMG LLP’s Financial Expert services Line of Company
– Amy Schioldager, previous Senior Taking care of Director and International Head of Beta Approaches at BlackRock, Inc.
– Trish Walsh, Main Authorized Officer, Stripe, Inc.

Jonathan Grey, President & Chief Running Officer, Blackstone, Inc. joined the Board in November 2021 subsequent Blackstone’s 9.9 % fairness financial investment in the business. Kevin Hogan, Chief Executive Officer of Corebridge Economic, is also a member of the Board.

AIG expects to carry on to very own extra than 50 p.c of Corebridge Financial next its first public providing (IPO), thus, an more 6 directors will be senior executives of AIG.

No assurance can be supplied concerning the kind that long run separation transactions could consider or the unique terms or timing thereof, or that a separation will in actuality happen. Any separation transaction will be matter to the satisfaction of a variety of conditions and approvals, like receipt of insurance coverage office and other expected regulatory approvals, and satisfaction of any applicable prerequisites of the Securities and Trade Commission (SEC).

This information launch is not an supply to provide, or a solicitation of an give to purchase, any securities.

Biographies

Mr. Zaffino has served as Chairman of the Board of Corebridge Fiscal considering that November 2021. He turned Chairman of the Board of AIG in January 2022. Mr. Zaffino has served as Main Government Officer of AIG because March 2021 and President since January 2020. He joined AIG in July 2017 as Govt Vice President, World Chief Operating Officer and was also appointed Main Govt Officer, Normal Insurance policy in November 2017. Prior to joining AIG, Mr. Zaffino served in various executive roles at Marsh McLennan, a global qualified products and services firm, which includes as Chairman for the Possibility and Insurance policy Services segment from 2015 to 2017 and Chief Executive Officer of Marsh, LLC from 2011 to 2017. Prior to that, Mr. Zaffino served as President and Chief Government Officer of Guy Carpenter, a subsidiary of Marsh McLennan, from 2008 to 2011, a corporation he first joined in 2001.

Mr. Colberg is predicted to be part of the Board as of the day of the IPO. He previously served as the Main Executive Officer and a Director of Assurant, Inc. from January 2015 right until his retirement in January 2022. Prior to this part, he held a variety of positions at Assurant, together with Govt Vice President of Advertising and marketing and Small business Improvement. Ahead of joining Assurant in March 2011, Mr. Colberg was a expert for Bain & Company, Inc. for 22 yrs, foremost the firm’s world economic companies exercise.

Mr. Hogan has served as a Director of Corebridge Money considering that June 2021. Mr. Hogan has also served as President and Main Executive Officer of Corebridge Fiscal since December 2014. He was also a founding board member of Alliance for Life time Money, wherever he at this time serves as a director. Mr. Hogan started off his vocation in 1984 at AIG in New York, and subsequently held management positions in AIG Property Casualty in Chicago, Tokyo, Hong Kong, Singapore and China and AIG Existence & Retirement in China, Taiwan, and New York. From 2009 right until rejoining AIG in 2013, he was Chief Executive Officer, World Life for the Zurich Insurance policy Group. Prior to his present-day role, he served as Main Executive Officer of AIG’s Client group and senior officer for Japan.

Mr. Grey has served as a Director of Corebridge Financial given that November 2021, next the closing of Blackstone’s 9.9% equity investment decision in AIG’s Lifetime & Retirement small business. Mr. Gray is the President and Chief Working Officer of Blackstone Inc., acquiring joined Blackstone Inc. in 1992. Mr. Gray is a member of Blackstone Inc.’s Administration Committee and beforehand served as its World-wide Head of Genuine Estate. Mr. Gray has served as a board member of Blackstone Inc. given that February 2012, and as Chair of the Hilton Globally Holdings Board of Administrators the place he at this time serves as a director.

Mr. Lynch has served as a Director of Corebridge Money since November 2021. Mr. Lynch has been an unbiased specialist considering that 2007, supplying a range of services to public and privately held organizations. Prior to that, Mr. Lynch was the previous National Companion in Charge of KPMG LLP’s Fiscal Products and services Line of Small business. He held a range of positions with KPMG over his 29-12 months occupation, which includes chairing KPMG’s Americas Financial Solutions Management team and becoming a member of the World-wide Monetary Solutions Leadership and the U.S. Industries Management teams. Mr. Lynch also served as a Partner in KPMG’s National Section of Qualified Exercise and as a Practice Fellow at the Economical Accounting Requirements Board. Mr. Lynch now serves as a director of AIG. Mr. Lynch will not stand for re-election to the AIG Board at the Annual Assembly in Could 2022.

Ms. Schioldager has served as a Director of Corebridge Money considering the fact that November 2021. Ms. Schioldager is the former Senior Managing Director and World wide Head of Beta Strategies at BlackRock, Inc. a world-wide investment decision management corporation. In this part, which she held from 2006 to 2017, Ms. Schioldager was liable for managing the Index Fairness small business across 7 world offices. Through her more than 25 decades at BlackRock, Ms. Schioldager held numerous other management positions and also served as a member of the World-wide Government 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 Yearly Conference in Might 2022.

Ms. Walsh is envisioned to be a part of the Board as of the day of the IPO. She has served as Chief Legal Officer of Stripe Inc. given that January 2020. Prior to becoming a member of Stripe, Ms. Walsh served as Chief Authorized Officer for Voya Monetary, Inc. from 2015 to 2020. Ahead of signing up for Voya, Ms. Walsh served as Deputy Normal Counsel at Cigna and at MassMutual. Prior to that, Ms. Walsh was an associate at Cleary, Gottlieb, Steen & Hamilton LLP and also labored for the Business of the General Counsel at the SEC.

About AIG

American International Team, Inc. (AIG) is a primary world-wide insurance policy firm. AIG member businesses give a broad selection of home casualty insurance policies, lifestyle insurance coverage, retirement remedies, and other financial products and services to buyers in approximately 70 nations and jurisdictions. These various choices consist of products and solutions and companies that assist organizations and people today safeguard their belongings, take care of risk, and provide for retirement safety. AIG prevalent inventory is listed on the New York Inventory Exchange.

Extra information and 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/organization/aig. These references with added information about AIG have been presented as a convenience, and the data contained on this kind of websites is not incorporated by reference into this push launch.

AIG is the promoting identify for the around the globe residence-casualty, lifestyle and retirement, and common insurance coverage operations of American International Group, Inc. For further data, remember to take a look at our website at www.aig.com. All goods and companies are penned or supplied by subsidiaries or affiliate marketers of American Worldwide Group, Inc. Solutions or services may possibly not be obtainable in all nations and jurisdictions, and coverage is issue to underwriting specifications and genuine policy language. Non-insurance policies merchandise and expert services may well be supplied by independent third get-togethers. Particular assets-casualty coverages may possibly be delivered by a surplus lines insurance provider. Surplus lines insurers do not frequently take part in state guaranty funds, and insureds are consequently not protected by these funds.

About AIG’s Lifetime & Retirement Enterprise

AIG’s Daily life & Retirement company, which will be renamed Corebridge Fiscal as of date of its IPO, delivers together a wide portfolio of security, retirement savings, investment decision, and life time profits options to aid men and women attain economical and retirement safety. The business consists of four operating segments – Personal Retirement, AIG Retirement Companies, Everyday living Insurance policy, and Institutional Marketplaces – and retains longstanding, leading market place positions in a lot of of the marketplaces it serves.

AIG’s Lifetime & Retirement enterprise consists of AIG member insurance policies businesses American Normal Life Coverage Enterprise (Houston, TX), The United States Everyday living Insurance Enterprise in the Metropolis of New York, and The Variable Annuity Daily life Insurance policy Company (VALIC), Houston, TX as effectively as their affiliate marketers. AIG’s Everyday living & Retirement business also features the Uk lifetime coverage enterprise AIG Everyday living Confined and Laya Healthcare in Ireland. Securities merchandise are dispersed by AIG Funds Solutions, Inc., member FINRA. More facts about AIG Everyday living & Retirement can be identified at lifeandretirement.aig.com.

Check out supply version on businesswire.com: https://www.businesswire.com/news/home/20220328005691/en/

Contacts

AIG Contacts:
Quentin McMillan (Investors): [email protected]
Dana Ripley (Media): [email protected]



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