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NEW YORK, March 28, 2022–(Business WIRE)–American Global Team, Inc. (NYSE: AIG) now declared Administrators for the Board of Directors (Board) of Corebridge Monetary, Inc. as it carries on to prepare its Lifestyle & Retirement business to be a standalone company.
“Demonstrating yet another vital milestone toward the separation of Everyday living & Retirement from AIG, I am pleased to announce a group of attained, skilled and remarkably credible Administrators for Corebridge Economical, the earlier announced new title for this small business,” mentioned Peter Zaffino, Chairman & Chief Executive Officer of AIG. “We are dedicated to extraordinary company governance, which commences with Directors who deliver varied views, activities, backgrounds, and insights to the boardroom.”
Peter Zaffino serves as Chairman of Corebridge Monetary, and the Board will incorporate the pursuing independent directors:
– Alan Colberg, Retired Chief Govt Officer, Assurant, Inc.
– Christopher Lynch, previous Countrywide Associate in Demand of KPMG LLP’s Money Services Line of Organization
– Amy Schioldager, former Senior Handling Director and World-wide Head of Beta Methods at BlackRock, Inc.
– Trish Walsh, Main Lawful Officer, Stripe, Inc.
Jonathan Grey, President & Chief Working Officer, Blackstone, Inc. joined the Board in November 2021 subsequent Blackstone’s 9.9 per cent equity financial investment in the enterprise. Kevin Hogan, Chief Government Officer of Corebridge Monetary, is also a member of the Board.
AIG expects to keep on to very own extra than 50 p.c of Corebridge Financial next its preliminary public providing (IPO), for that reason, an supplemental six directors will be senior executives of AIG.
No assurance can be given concerning the sort that upcoming separation transactions could get or the distinct conditions or timing thereof, or that a separation will in point happen. Any separation transaction will be matter to the pleasure of many problems and approvals, together with receipt of insurance plan section and other essential regulatory approvals, and pleasure of any applicable demands of the Securities and Trade Fee (SEC).
This news launch is not an supply to provide, or a solicitation of an offer to acquire, any securities.
Biographies
Mr. Zaffino has served as Chairman of the Board of Corebridge Monetary considering the fact that November 2021. He became Chairman of the Board of AIG in January 2022. Mr. Zaffino has served as Main Govt Officer of AIG considering the fact that March 2021 and President since January 2020. He joined AIG in July 2017 as Government Vice President, World Main Functioning Officer and was also appointed Chief Government Officer, Standard Insurance policy in November 2017. Prior to becoming a member of AIG, Mr. Zaffino served in various govt roles at Marsh McLennan, a world wide skilled expert services agency, together with as Chairman for the Risk and Insurance Products and services segment from 2015 to 2017 and Main Govt Officer of Marsh, LLC from 2011 to 2017. Prior to that, Mr. Zaffino served as President and Main Govt Officer of Guy Carpenter, a subsidiary of Marsh McLennan, from 2008 to 2011, a corporation he initial joined in 2001.
Mr. Colberg is expected to join the Board as of the date of the IPO. He earlier served as the Main Govt Officer and a Director of Assurant, Inc. from January 2015 till his retirement in January 2022. Prior to this part, he held a variety of positions at Assurant, such as Government Vice President of Marketing and advertising and Enterprise Improvement. Ahead of signing up for Assurant in March 2011, Mr. Colberg was a marketing consultant for Bain & Organization, Inc. for 22 a long time, foremost the firm’s world-wide economic providers follow.
Mr. Hogan has served as a Director of Corebridge Monetary because June 2021. Mr. Hogan has also served as President and Chief Executive Officer of Corebridge Economical since December 2014. He was also a founding board member of Alliance for Life time Income, exactly where he at the moment serves as a director. Mr. Hogan commenced his profession in 1984 at AIG in New York, and subsequently held administration positions in AIG Assets 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 Existence for the Zurich Insurance Team. Prior to his latest function, he served as Main Executive Officer of AIG’s Consumer corporation and senior officer for Japan.
Mr. Grey has served as a Director of Corebridge Monetary since November 2021, following the closing of Blackstone’s 9.9% equity investment in AIG’s Lifestyle & Retirement enterprise. Mr. Gray is the President and Main Working Officer of Blackstone Inc., obtaining joined Blackstone Inc. in 1992. Mr. Grey is a member of Blackstone Inc.’s Administration Committee and previously served as its Worldwide Head of True Estate. Mr. Grey has served as a board member of Blackstone Inc. considering the fact that February 2012, and as Chair of the Hilton Globally Holdings Board of Administrators exactly where he at the moment serves as a director.
Mr. Lynch has served as a Director of Corebridge Money given that November 2021. Mr. Lynch has been an impartial consultant given that 2007, providing a wide variety of companies to community and privately held corporations. Prior to that, Mr. Lynch was the previous Nationwide Companion in Charge of KPMG LLP’s Fiscal Services Line of Business. He held a range of positions with KPMG above his 29-yr career, which includes chairing KPMG’s Americas Economic Services Leadership staff and remaining a member of the World wide Economic Services Management and the U.S. Industries Leadership teams. Mr. Lynch also served as a Husband or wife in KPMG’s Countrywide Division of Qualified Practice and as a Observe Fellow at the Economical Accounting Specifications Board. Mr. Lynch currently 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 due to the fact November 2021. Ms. Schioldager is the previous Senior Handling Director and International Head of Beta Tactics at BlackRock, Inc. a world-wide expense management company. In this position, which she held from 2006 to 2017, Ms. Schioldager was dependable for managing the Index Equity enterprise across seven world workplaces. In the course of her extra than 25 several years at BlackRock, Ms. Schioldager held different 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 started 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 Once-a-year Assembly in May possibly 2022.
Ms. Walsh is envisioned to be part of the Board as of the day of the IPO. She has served as Chief Legal Officer of Stripe Inc. because January 2020. Prior to signing up for 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 Basic 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 Workplace of the Standard Counsel at the SEC.
About AIG
American International Team, Inc. (AIG) is a leading world wide insurance policy business. AIG member firms deliver a vast selection of house casualty insurance coverage, life insurance policy, retirement answers, and other monetary expert services to prospects in roughly 70 nations and jurisdictions. These varied choices contain products and solutions that support firms and people today guard their property, deal with risk, and deliver for retirement security. AIG popular inventory is outlined on the New York Stock Trade.
More details about AIG can be discovered at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/corporation/aig. These references with supplemental data about AIG have been furnished as a usefulness, and the info contained on these types of websites is not incorporated by reference into this press release.
AIG is the advertising and marketing name for the globally residence-casualty, life and retirement, and typical coverage operations of American Worldwide Team, Inc. For additional info, make sure you go to our web site at www.aig.com. All products and solutions are composed or provided by subsidiaries or affiliates of American Intercontinental Team, Inc. Items or expert services might not be readily available in all international locations and jurisdictions, and coverage is issue to underwriting requirements and actual plan language. Non-insurance policy products and expert services may perhaps be offered by impartial third parties. Sure assets-casualty coverages may be presented by a surplus strains insurance company. Surplus strains insurers do not typically take part in state guaranty funds, and insureds are therefore not safeguarded by these kinds of funds.
About AIG’s Lifetime & Retirement Business enterprise
AIG’s Daily life & Retirement business enterprise, which will be renamed Corebridge Economic as of day of its IPO, delivers with each other a broad portfolio of safety, retirement personal savings, financial investment, and lifetime income options to assistance men and women obtain financial and retirement security. The company consists of four operating segments – Particular person Retirement, AIG Retirement Solutions, Daily life Coverage, and Institutional Marketplaces – and retains longstanding, primary market positions in lots of of the marketplaces it serves.
AIG’s Life & Retirement enterprise features AIG member insurance plan companies American Normal Life Insurance Corporation (Houston, TX), The United States Daily life Insurance policy Enterprise in the Town of New York, and The Variable Annuity Existence Insurance policy Organization (VALIC), Houston, TX as very well as their affiliate marketers. AIG’s Lifetime & Retirement enterprise also incorporates the United kingdom everyday living insurance company AIG Everyday living Minimal and Laya Healthcare in Ireland. Securities goods are distributed by AIG Funds Services, Inc., member FINRA. Supplemental details about AIG Existence & Retirement can be discovered at lifeandretirement.aig.com.
Check out source model on businesswire.com: https://www.businesswire.com/information/household/20220328005691/en/
Contacts
AIG Contacts:
Quentin McMillan (Traders): [email protected]
Dana Ripley (Media): [email protected]
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