NEW YORK, March 28, 2022–(Business enterprise WIRE)–American International Team, Inc. (NYSE: AIG) now announced Directors for the Board of Directors (Board) of Corebridge Fiscal, Inc. as it carries on to prepare its Lifetime & Retirement company to be a standalone business.
“Demonstrating one more significant milestone toward the separation of Lifetime & Retirement from AIG, I am pleased to announce a team of accomplished, seasoned and extremely credible Directors for Corebridge Financial, the previously declared new title for this enterprise,” stated Peter Zaffino, Chairman & Chief Govt Officer of AIG. “We are committed to fantastic corporate governance, which commences with Directors who provide assorted views, ordeals, backgrounds, and insights to the boardroom.”
Peter Zaffino serves as Chairman of Corebridge Monetary, and the Board will contain the pursuing impartial administrators:
– Alan Colberg, Retired Main Government Officer, Assurant, Inc.
– Christopher Lynch, former Nationwide Associate in Demand of KPMG LLP’s Monetary Companies Line of Business
– Amy Schioldager, former Senior Handling Director and World wide Head of Beta Approaches at BlackRock, Inc.
– Trish Walsh, Chief Legal Officer, Stripe, Inc.
Jonathan Grey, President & Main Functioning Officer, Blackstone, Inc. joined the Board in November 2021 following Blackstone’s 9.9 per cent fairness financial commitment in the business. Kevin Hogan, Main Executive Officer of Corebridge Monetary, is also a member of the Board.
AIG expects to proceed to possess additional than 50 percent of Corebridge Financial subsequent its preliminary community giving (IPO), for that reason, an more six directors will be senior executives of AIG.
No assurance can be given relating to the variety that potential separation transactions might consider or the particular conditions or timing thereof, or that a separation will in simple fact happen. Any separation transaction will be matter to the fulfillment of a variety of disorders and approvals, including receipt of insurance policies office and other needed regulatory approvals, and fulfillment of any applicable requirements of the Securities and Exchange Commission (SEC).
This information release is not an supply to market, or a solicitation of an present to purchase, any securities.
Biographies
Mr. Zaffino has served as Chairman of the Board of Corebridge Economic due to the fact November 2021. He became Chairman of the Board of AIG in January 2022. Mr. Zaffino has served as Chief Govt Officer of AIG due to the fact March 2021 and President considering the fact that January 2020. He joined AIG in July 2017 as Government Vice President, Global Main Working Officer and was also appointed Main Govt Officer, General Insurance plan in November 2017. Prior to becoming a member of AIG, Mr. Zaffino served in a variety of executive roles at Marsh McLennan, a worldwide professional products and services firm, together with as Chairman for the Threat and Insurance policies Expert services section from 2015 to 2017 and Main Govt Officer of Marsh, LLC from 2011 to 2017. Prior to that, Mr. Zaffino served as President and Chief Government Officer of Man Carpenter, a subsidiary of Marsh McLennan, from 2008 to 2011, a organization he very first joined in 2001.
Mr. Colberg is predicted to be part of the Board as of the day of the IPO. He formerly served as the Main Govt Officer and a Director of Assurant, Inc. from January 2015 until his retirement in January 2022. Prior to this part, he held many positions at Assurant, which include Govt Vice President of Promoting and Small business Development. Prior to joining Assurant in March 2011, Mr. Colberg was a guide for Bain & Enterprise, Inc. for 22 yrs, foremost the firm’s world-wide economical products and services exercise.
Mr. Hogan has served as a Director of Corebridge Monetary considering that June 2021. Mr. Hogan has also served as President and Main Govt Officer of Corebridge Economic considering the fact that December 2014. He was also a founding board member of Alliance for Lifetime Income, where by he currently serves as a director. Mr. Hogan began his vocation in 1984 at AIG in New York, and subsequently held administration positions in AIG Home Casualty in Chicago, Tokyo, Hong Kong, Singapore and China and AIG Lifestyle & Retirement in China, Taiwan, and New York. From 2009 until eventually rejoining AIG in 2013, he was Main Executive Officer, International Lifestyle for the Zurich Coverage Group. Prior to his present role, he served as Chief Government Officer of AIG’s Consumer organization and senior officer for Japan.
Mr. Grey has served as a Director of Corebridge Economical considering that November 2021, adhering to the closing of Blackstone’s 9.9% fairness financial commitment in AIG’s Everyday living & Retirement business enterprise. Mr. Grey is the President and Chief Functioning 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 Genuine Estate. Mr. Gray has served as a board member of Blackstone Inc. due to the fact February 2012, and as Chair of the Hilton Around the globe Holdings Board of Directors the place he now serves as a director.
Mr. Lynch has served as a Director of Corebridge Fiscal due to the fact November 2021. Mr. Lynch has been an unbiased marketing consultant considering that 2007, offering a variety of services to public and privately held companies. Prior to that, Mr. Lynch was the previous Countrywide Spouse in Cost of KPMG LLP’s Economic Products and services Line of Business. He held a variety of positions with KPMG over his 29-yr career, like chairing KPMG’s Americas Money Providers Management team and getting a member of the World wide Economical Products and services Leadership and the U.S. Industries Leadership groups. Mr. Lynch also served as a Lover in KPMG’s National Department of Experienced Observe and as a Observe Fellow at the Monetary Accounting Requirements Board. Mr. Lynch at the moment serves as a director of AIG. Mr. Lynch will not stand for re-election to the AIG Board at the Yearly Meeting in Could 2022.
Ms. Schioldager has served as a Director of Corebridge Economical considering that November 2021. Ms. Schioldager is the former Senior Running Director and Global Head of Beta Procedures at BlackRock, Inc. a global investment decision administration company. In this role, which she held from 2006 to 2017, Ms. Schioldager was dependable for controlling the Index Equity enterprise throughout seven world wide places of work. Through her more than 25 several years at BlackRock, Ms. Schioldager held various other leadership positions and also served as a member of the World wide Executive 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 at present serves as director of AIG. Ms. Schioldager will not stand for re-election to the AIG Board at the Yearly Conference in Could 2022.
Ms. Walsh is expected to sign up for the Board as of the date of the IPO. She has served as Main Lawful Officer of Stripe Inc. given that January 2020. Prior to becoming a member of Stripe, Ms. Walsh served as Main Authorized Officer for Voya Monetary, Inc. from 2015 to 2020. Prior to joining Voya, Ms. Walsh served as Deputy Basic Counsel at Cigna and at MassMutual. Prior to that, Ms. Walsh was an affiliate at Cleary, Gottlieb, Steen & Hamilton LLP and also worked for the Workplace of the General Counsel at the SEC.
About AIG
American Global Team, Inc. (AIG) is a main world coverage corporation. AIG member corporations present a wide range of assets casualty insurance, life insurance policies, retirement methods, and other economic expert services to prospects in around 70 international locations and jurisdictions. These diverse choices contain goods and services that help businesses and folks safeguard their property, manage danger, and provide for retirement security. AIG typical inventory is outlined on the New York Stock Exchange.
Supplemental data about AIG can be located at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/corporation/aig. These references with more information and facts about AIG have been provided as a ease, and the information and facts contained on these types of internet sites is not included by reference into this press release.
AIG is the promoting identify for the around the globe residence-casualty, existence and retirement, and general insurance plan functions of American International Team, Inc. For extra information, be sure to stop by our site at www.aig.com. All merchandise and solutions are created or supplied by subsidiaries or affiliate marketers of American International Team, Inc. Products and solutions or expert services may not be obtainable in all countries and jurisdictions, and coverage is matter to underwriting prerequisites and real policy language. Non-insurance policies goods and products and services may possibly be supplied by impartial 3rd events. Certain assets-casualty coverages might be furnished by a surplus lines insurance company. Surplus lines insurers do not frequently take part in state warranty funds, and insureds are hence not protected by these kinds of resources.
About AIG’s Existence & Retirement Small business
AIG’s Everyday living & Retirement business enterprise, which will be renamed Corebridge Money as of day of its IPO, delivers with each other a broad portfolio of security, retirement financial savings, financial investment, and life span revenue alternatives to support people today obtain financial and retirement security. The organization is composed of four functioning segments – Personal Retirement, AIG Retirement Companies, Everyday living Coverage, and Institutional Marketplaces – and retains longstanding, top current market positions in a lot of of the markets it serves.
AIG’s Existence & Retirement enterprise involves AIG member insurance firms American Normal Lifestyle Insurance policy Enterprise (Houston, TX), The United States Daily life Insurance policies Firm in the City of New York, and The Variable Annuity Existence Insurance policies Corporation (VALIC), Houston, TX as perfectly as their affiliate marketers. AIG’s Existence & Retirement organization also features the United kingdom existence insurance policies company AIG Existence Restricted and Laya Health care in Ireland. Securities solutions are distributed by AIG Funds Products and services, Inc., member FINRA. Added information about AIG Existence & Retirement can be uncovered at lifeandretirement.aig.com.
See supply variation on businesswire.com: https://www.businesswire.com/news/residence/20220328005691/en/
Contacts
AIG Contacts:
Quentin McMillan (Traders): [email protected]
Dana Ripley (Media): [email protected]