NEW YORK, March 28, 2022–(Enterprise WIRE)–American Worldwide Group, Inc. (NYSE: AIG) nowadays announced Directors for the Board of Administrators (Board) of Corebridge Financial, Inc. as it proceeds to put together its Life & Retirement business enterprise to be a standalone company.
“Demonstrating another important milestone toward the separation of Existence & Retirement from AIG, I am happy to announce a group of accomplished, skilled and highly credible Directors for Corebridge Financial, the earlier declared new title for this enterprise,” mentioned Peter Zaffino, Chairman & Chief Govt Officer of AIG. “We are fully commited to outstanding company governance, which starts off with Directors who deliver assorted perspectives, activities, backgrounds, and insights to the boardroom.”
Peter Zaffino serves as Chairman of Corebridge Fiscal, and the Board will involve the pursuing impartial administrators:
– Alan Colberg, Retired Chief Executive Officer, Assurant, Inc.
– Christopher Lynch, previous National Husband or wife in Demand of KPMG LLP’s Economical Expert services Line of Small business
– Amy Schioldager, previous Senior Managing Director and World Head of Beta Techniques at BlackRock, Inc.
– Trish Walsh, Main Lawful Officer, Stripe, Inc.
Jonathan Gray, President & Main Working Officer, Blackstone, Inc. joined the Board in November 2021 next Blackstone’s 9.9 % equity financial commitment in the corporation. Kevin Hogan, Chief Government Officer of Corebridge Monetary, is also a member of the Board.
AIG expects to go on to have extra than 50 percent of Corebridge Economical pursuing its preliminary public featuring (IPO), as a result, an more 6 administrators will be senior executives of AIG.
No assurance can be offered regarding the form that upcoming separation transactions may well just take or the unique conditions or timing thereof, or that a separation will in actuality arise. Any separation transaction will be issue to the fulfillment of a variety of conditions and approvals, together with receipt of insurance department and other necessary regulatory approvals, and fulfillment of any applicable requirements of the Securities and Trade Commission (SEC).
This news launch is not an offer you to provide, or a solicitation of an supply to purchase, any securities.
Mr. Zaffino has served as Chairman of the Board of Corebridge Monetary because November 2021. He grew to become Chairman of the Board of AIG in January 2022. Mr. Zaffino has served as Main Govt Officer of AIG since March 2021 and President because January 2020. He joined AIG in July 2017 as Government Vice President, World wide Main Running Officer and was also appointed Chief Govt Officer, Basic Coverage in November 2017. Prior to becoming a member of AIG, Mr. Zaffino served in many government roles at Marsh McLennan, a global expert services organization, such as as Chairman for the Risk and Insurance policy Companies segment from 2015 to 2017 and Chief Govt 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 enterprise he 1st joined in 2001.
Mr. Colberg is anticipated to be a part of the Board as of the day of the IPO. He earlier served as the Chief Govt Officer and a Director of Assurant, Inc. from January 2015 until eventually his retirement in January 2022. Prior to this purpose, he held several positions at Assurant, which include Executive Vice President of Promoting and Small business Improvement. Right before signing up for Assurant in March 2011, Mr. Colberg was a specialist for Bain & Organization, Inc. for 22 a long time, primary the firm’s world financial products and services observe.
Mr. Hogan has served as a Director of Corebridge Monetary because June 2021. Mr. Hogan has also served as President and Main Executive Officer of Corebridge Economical since December 2014. He was also a founding board member of Alliance for Life span Money, the place he at the moment serves as a director. Mr. Hogan commenced his career in 1984 at AIG in New York, and subsequently held management positions in AIG Assets Casualty in Chicago, Tokyo, Hong Kong, Singapore and China and AIG Lifestyle & Retirement in China, Taiwan, and New York. From 2009 until rejoining AIG in 2013, he was Main Executive Officer, Global Existence for the Zurich Coverage Team. Prior to his present purpose, he served as Main Government Officer of AIG’s Consumer corporation and senior officer for Japan.
Mr. Gray has served as a Director of Corebridge Economical because November 2021, subsequent the closing of Blackstone’s 9.9% fairness expense in AIG’s Daily life & Retirement small business. Mr. Gray is the President and Main Running Officer of Blackstone Inc., possessing joined Blackstone Inc. in 1992. Mr. Gray is a member of Blackstone Inc.’s Administration Committee and formerly served as its World wide Head of Actual Estate. Mr. Grey has served as a board member of Blackstone Inc. because February 2012, and as Chair of the Hilton Throughout the world Holdings Board of Directors exactly where he now serves as a director.
Mr. Lynch has served as a Director of Corebridge Money because November 2021. Mr. Lynch has been an impartial marketing consultant given that 2007, providing a range of expert services to general public and privately held companies. Prior to that, Mr. Lynch was the former Nationwide Husband or wife in Charge of KPMG LLP’s Economical Products and services Line of Organization. He held a selection of positions with KPMG more than his 29-yr job, like chairing KPMG’s Americas Financial Products and services Leadership crew and staying a member of the International Financial Services Leadership and the U.S. Industries Management teams. Mr. Lynch also served as a Associate in KPMG’s Countrywide Section of Professional Exercise and as a Practice Fellow at the Economical Accounting Benchmarks Board. Mr. Lynch currently serves as a director of AIG. Mr. Lynch will not stand for re-election to the AIG Board at the Once-a-year Conference in May possibly 2022.
Ms. Schioldager has served as a Director of Corebridge Economical because November 2021. Ms. Schioldager is the former Senior Taking care of Director and Global Head of Beta Approaches at BlackRock, Inc. a global financial investment management corporation. In this part, which she held from 2006 to 2017, Ms. Schioldager was responsible for managing the Index Fairness organization throughout seven worldwide offices. In the course of her more than 25 many years at BlackRock, Ms. Schioldager held several other leadership positions and also served as a member of the World Govt Committee from 2012 to 2017 and Vice Chair of the Corporate Governance Committee from 2008 to 2015. She also founded and led BlackRock’s Women’s Initiative. Ms. Schioldager now serves as director of AIG. Ms. Schioldager will not stand for re-election to the AIG Board at the Once-a-year Assembly in May 2022.
Ms. Walsh is predicted to sign up for the Board as of the date of the IPO. She has served as Chief Authorized Officer of Stripe Inc. because January 2020. Prior to joining Stripe, Ms. Walsh served as Chief Authorized Officer for Voya Monetary, Inc. from 2015 to 2020. Ahead of joining 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 Common Counsel at the SEC.
American Worldwide Team, Inc. (AIG) is a foremost international insurance business. AIG member companies give a extensive selection of residence casualty coverage, daily life insurance policy, retirement remedies, and other financial providers to consumers in around 70 nations around the world and jurisdictions. These varied choices include products and solutions and services that support corporations and persons defend their belongings, deal with chance, and supply for retirement security. AIG popular inventory is stated on the New York Stock Exchange.
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AIG is the internet marketing title for the globally home-casualty, lifestyle and retirement, and general coverage functions of American Worldwide Group, Inc. For supplemental information, remember to take a look at our web page at www.aig.com. All items and companies are published or presented by subsidiaries or affiliate marketers of American Intercontinental Team, Inc. Items or solutions may perhaps not be offered in all nations around the world and jurisdictions, and coverage is subject matter to underwriting requirements and true coverage language. Non-insurance merchandise and expert services may perhaps be furnished by impartial 3rd functions. Specified residence-casualty coverages may well be provided by a surplus lines insurer. Surplus traces insurers do not commonly take part in condition warranty cash, and insureds are thus not guarded by these types of money.
About AIG’s Daily life & Retirement Company
AIG’s Life & Retirement organization, which will be renamed Corebridge Financial as of day of its IPO, brings together a wide portfolio of security, retirement savings, financial investment, and life span earnings options to assist people today obtain monetary and retirement security. The business consists of four operating segments – Particular person Retirement, AIG Retirement Solutions, Lifestyle Insurance coverage, and Institutional Marketplaces – and holds longstanding, leading industry positions in several of the markets it serves.
AIG’s Existence & Retirement enterprise incorporates AIG member insurance plan corporations American General Daily life Insurance plan Business (Houston, TX), The United States Everyday living Insurance policy Corporation in the City of New York, and The Variable Annuity Existence Insurance policies Corporation (VALIC), Houston, TX as effectively as their affiliate marketers. AIG’s Existence & Retirement organization also features the Uk lifestyle coverage enterprise AIG Lifestyle Confined and Laya Health care in Eire. Securities merchandise are distributed by AIG Money Providers, Inc., member FINRA. Added facts about AIG Lifestyle & Retirement can be discovered at lifeandretirement.aig.com.
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