AIG Announces Board of Directors for Corebridge Financial as it Prepares its Life & Retirement Business to be a Standalone Company
NEW YORK, March 28, 2022–(Enterprise WIRE)–American International Team, Inc. (NYSE: AIG) nowadays announced Administrators for the Board of Directors (Board) of Corebridge Monetary, Inc. as it continues to get ready its Life & Retirement enterprise to be a standalone corporation.
“Demonstrating a further significant milestone toward the separation of Daily life & Retirement from AIG, I am pleased to announce a team of attained, skilled and very credible Directors for Corebridge Money, the previously announced new identify for this enterprise,” said Peter Zaffino, Chairman & Chief Government Officer of AIG. “We are committed to extraordinary corporate governance, which starts with Administrators who convey diverse perspectives, encounters, backgrounds, and insights to the boardroom.”
Peter Zaffino serves as Chairman of Corebridge Fiscal, and the Board will incorporate the subsequent impartial administrators:
– Alan Colberg, Retired Chief Executive Officer, Assurant, Inc.
– Christopher Lynch, previous National Spouse in Demand of KPMG LLP’s Economic Solutions Line of Organization
– Amy Schioldager, previous Senior Handling Director and World-wide Head of Beta Methods at BlackRock, Inc.
– Trish Walsh, Main Authorized Officer, Stripe, Inc.
Jonathan Gray, President & Chief Running Officer, Blackstone, Inc. joined the Board in November 2021 adhering to Blackstone’s 9.9 % equity financial investment in the firm. Kevin Hogan, Chief Government Officer of Corebridge Financial, is also a member of the Board.
AIG expects to continue to have a lot more than 50 % of Corebridge Money adhering to its preliminary community offering (IPO), consequently, an more six administrators will be senior executives of AIG.
No assurance can be specified pertaining to the type that long run separation transactions could get or the unique phrases or timing thereof, or that a separation will in fact occur. Any separation transaction will be subject matter to the satisfaction of different ailments and approvals, together with receipt of insurance policies division and other demanded regulatory approvals, and pleasure of any applicable prerequisites of the Securities and Exchange Commission (SEC).
This news launch is not an provide to provide, or a solicitation of an supply to purchase, any securities.
Mr. Zaffino has served as Chairman of the Board of Corebridge Monetary considering that November 2021. He became Chairman of the Board of AIG in January 2022. Mr. Zaffino has served as Main Government Officer of AIG since March 2021 and President considering that January 2020. He joined AIG in July 2017 as Government Vice President, World-wide Chief Working Officer and was also appointed Main Govt Officer, General Insurance policies in November 2017. Prior to signing up for AIG, Mr. Zaffino served in various executive roles at Marsh McLennan, a worldwide professional solutions firm, which includes as Chairman for the Hazard and Insurance plan 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 Government Officer of Person Carpenter, a subsidiary of Marsh McLennan, from 2008 to 2011, a firm he initial joined in 2001.
Mr. Colberg is envisioned to be part of the Board as of the date of the IPO. He previously served as the Main Executive Officer and a Director of Assurant, Inc. from January 2015 until eventually his retirement in January 2022. Prior to this role, he held many positions at Assurant, including Executive Vice President of Marketing and advertising and Company Progress. Right before becoming a member of Assurant in March 2011, Mr. Colberg was a guide for Bain & Corporation, Inc. for 22 several years, primary the firm’s world financial providers follow.
Mr. Hogan has served as a Director of Corebridge Monetary considering that June 2021. Mr. Hogan has also served as President and Chief Government Officer of Corebridge Economic considering the fact that December 2014. He was also a founding board member of Alliance for Lifetime Earnings, the place he at present serves as a director. Mr. Hogan began his occupation 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 Chief Executive Officer, World-wide Life for the Zurich Insurance Team. Prior to his current position, he served as Main Government Officer of AIG’s Buyer corporation and senior officer for Japan.
Mr. Grey has served as a Director of Corebridge Money because November 2021, subsequent the closing of Blackstone’s 9.9% fairness expenditure in AIG’s Life & Retirement organization. Mr. Grey is the President and Chief Operating Officer of Blackstone Inc., owning joined Blackstone Inc. in 1992. Mr. Gray is a member of Blackstone Inc.’s Administration Committee and previously served as its World wide Head of True Estate. Mr. Gray has served as a board member of Blackstone Inc. since February 2012, and as Chair of the Hilton Globally Holdings Board of Administrators in which he at present serves as a director.
Mr. Lynch has served as a Director of Corebridge Money given that November 2021. Mr. Lynch has been an unbiased specialist considering that 2007, providing a variety of services to public and privately held organizations. Prior to that, Mr. Lynch was the former National Partner in Cost of KPMG LLP’s Money Expert services Line of Business. He held a range of positions with KPMG above his 29-year career, which include chairing KPMG’s Americas Economic Products and services Management workforce and becoming a member of the World Financial Providers Management and the U.S. Industries Management groups. Mr. Lynch also served as a Partner in KPMG’s Nationwide Division of Professional Exercise and as a Practice Fellow at the Economical Accounting Standards Board. Mr. Lynch now serves as a director of AIG. Mr. Lynch will not stand for re-election to the AIG Board at the Yearly Assembly in May 2022.
Ms. Schioldager has served as a Director of Corebridge Financial due to the fact November 2021. Ms. Schioldager is the previous Senior Running Director and World wide Head of Beta Approaches at BlackRock, Inc. a world financial investment administration corporation. In this part, which she held from 2006 to 2017, Ms. Schioldager was liable for managing the Index Equity small business throughout seven international workplaces. In the course of her a lot more than 25 decades at BlackRock, Ms. Schioldager held several other management positions and also served as a member of the International 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 presently serves as director of AIG. Ms. Schioldager will not stand for re-election to the AIG Board at the Yearly Conference in May 2022.
Ms. Walsh is expected to join the Board as of the date of the IPO. She has served as Chief Lawful Officer of Stripe Inc. because January 2020. Prior to joining Stripe, Ms. Walsh served as Chief Lawful Officer for Voya Monetary, Inc. from 2015 to 2020. Prior to joining Voya, Ms. Walsh served as Deputy Normal 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 Business office of the Basic Counsel at the SEC.
American Global Group, Inc. (AIG) is a top world-wide insurance plan firm. AIG member companies supply a vast range of home casualty insurance policy, everyday living insurance, retirement answers, and other financial services to consumers in approximately 70 international locations and jurisdictions. These diverse choices consist of products and providers that assistance enterprises and men and women safeguard their belongings, deal with risk, and give for retirement protection. AIG common inventory is mentioned on the New York Inventory Exchange.
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AIG is the advertising and marketing name for the around the globe house-casualty, life and retirement, and common insurance coverage operations of American International Team, Inc. For further details, please go to our website at www.aig.com. All items and solutions are published or furnished by subsidiaries or affiliates of American Global Team, Inc. Merchandise or expert services may well not be offered in all international locations and jurisdictions, and protection is subject to underwriting requirements and genuine coverage language. Non-insurance policies merchandise and services could be delivered by independent third functions. Certain residence-casualty coverages may well be delivered by a surplus strains insurance provider. Surplus lines insurers do not usually take part in point out warranty funds, and insureds are as a result not secured by such funds.
About AIG’s Lifetime & Retirement Organization
AIG’s Life & Retirement organization, which will be renamed Corebridge Money as of day of its IPO, brings with each other a broad portfolio of defense, retirement price savings, investment, and life span earnings methods to assist folks achieve fiscal and retirement stability. The company is composed of 4 working segments – Personal Retirement, AIG Retirement Expert services, Existence Insurance plan, and Institutional Markets – and retains longstanding, top market place positions in lots of of the markets it serves.
AIG’s Lifestyle & Retirement enterprise includes AIG member coverage organizations American Basic Everyday living Insurance policies Business (Houston, TX), The United States Daily life Coverage Business in the City of New York, and The Variable Annuity Daily life Insurance policies Corporation (VALIC), Houston, TX as perfectly as their affiliates. AIG’s Lifetime & Retirement business enterprise also features the United kingdom existence insurance plan enterprise AIG Life Limited and Laya Healthcare in Ireland. Securities goods are distributed by AIG Cash Providers, Inc., member FINRA. Added data about AIG Daily life & Retirement can be found at lifeandretirement.aig.com.
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