AIG Reaches Key Milestone With Deconsolidation of Corebridge

Zacks06-12

American International Group, Inc. AIG has recently marked a major milestone with the deconsolidation of Corebridge Financial, Inc. CRBG for accounting purposes. It gave up majority control over ...

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It gave up majority control over ...</p>\n\n<a href=\"https://finance.yahoo.com/news/aig-reaches-key-milestone-deconsolidation-161900770.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AIG Reaches Key Milestone With Deconsolidation of Corebridge</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAIG Reaches Key Milestone With Deconsolidation of Corebridge\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-12 00:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/aig-reaches-key-milestone-deconsolidation-161900770.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>American International Group, Inc. AIG has recently marked a major milestone with the deconsolidation of Corebridge Financial, Inc. CRBG for accounting purposes. It gave up majority control over ...</p>\n\n<a href=\"https://finance.yahoo.com/news/aig-reaches-key-milestone-deconsolidation-161900770.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2065171402.SGD","symbol_name":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/aig-reaches-key-milestone-deconsolidation-161900770.html","article_id":"2442934872","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/rAGG8mz3wGjJ93PMA83gPw--~B/aD0zNDk7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/ccd636316c3bbb65a4880fc208088388"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2442934872","pubTimestamp":1718122740,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"This action finalizes the long-awaited separation of the two companies. For several years, AIG meticulously planned and carried out the separation of Corebridge into an independent company. As a result, Corebridge has emerged as a leading annuity provider. This allows AIG to dedicate its focus to its core operations.Following a successful IPO of CRBG in 2022, AIG continued lowering its stake in the company through a series of secondary offerings. This May, AIG launched a secondary offering of CRBG common stock, priced at $29.20 per share, and sold 30 million shares. It generated $872 million as net proceeds from the move. Currently, it owns around 48.35% of Corebridge's common stock.Also, last month, AIG reached an agreement to divest around 120 million CRBG shares, which accounts for 20% of Corebridge's total shares, to Nippon Life Insurance Company. The shares were priced at $31.47 each, making the total transaction value $3.8 billion.The deal with Nippon Life is likely to close in t","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","ROOT":"Root, Inc.","BK4566":"资本集团","BRO":"布朗保险经纪","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4588":"碎股","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","AIG":"美国国际集团","BK4551":"寇图资本持仓","LU0106831901.USD":"贝莱德世界金融基金A2","BK4585":"ETF&股票定投概念","BK4117":"多元化保险","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","BK4505":"高瓴资本持仓","CRBG":"Corebridge Financial, Inc.","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4173":"保险经纪商","BK4107":"财产与意外伤害保险","BK4184":"其它综合性金融服务","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC"},"translate_title":"AIG通过拆分Corebridge达到重要里程碑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ROOT":1,"BRO":1,"CRBG":1,"AIG":1},"content_text":"American International Group, Inc. AIG has recently marked a major milestone with the deconsolidation of Corebridge Financial, Inc. CRBG for accounting purposes. It gave up majority control over Corebridge's board of directors, signified by the resignation of Chris Schaper, AIG's executive vice president and global chief underwriting officer, from Corebridge's board, which now has 12 members.\nThis action finalizes the long-awaited separation of the two companies. For several years, AIG meticulously planned and carried out the separation of Corebridge into an independent company. As a result, Corebridge has emerged as a leading annuity provider. This allows AIG to dedicate its focus to its core operations.\nFollowing a successful IPO of CRBG in 2022, AIG continued lowering its stake in the company through a series of secondary offerings. This May, AIG launched a secondary offering of CRBG common stock, priced at $29.20 per share, and sold 30 million shares. It generated $872 million as net proceeds from the move. Currently, it owns around 48.35% of Corebridge's common stock.\nAlso, last month, AIG reached an agreement to divest around 120 million CRBG shares, which accounts for 20% of Corebridge's total shares, to Nippon Life Insurance Company. The shares were priced at $31.47 each, making the total transaction value $3.8 billion.\nThe deal with Nippon Life is likely to close in the first quarter of 2025. At the first-quarter 2024 end, Corebridge had more than $390 billion in assets under management and administration.\nPrice Performance\nAIG shares have gained 35.2% in the past year compared with the 19.5% growth of the industry.\nImage Source: Zacks Investment Research\nZacks Rank & Key Picks\nAIG currently has a Zacks Rank #3 (Hold).\nInvestors interested in the broader Finance space may look at some better-ranked players like Brown & Brown, Inc. BRO and Root, Inc. ROOT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe Zacks Consensus Estimate for Brown & Brown’s current-year earnings is pegged at $3.61 per share, which indicates 28.5% year-over-year growth. It has witnessed one upward estimate revision against none in the opposite direction during the past month. BRO beat earnings estimates in each of the past four quarters, with an average surprise of 11.9%.\nThe consensus mark for ROOT’s current-year earnings indicates a 53% year-over-year improvement. It beat earnings estimates in all the past four quarters, with an average surprise of 34.1%. Furthermore, the consensus estimate for Root’s 2024 revenues suggests 125.3% year-over-year growth.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAmerican International Group, Inc. (AIG) : Free Stock Analysis Report\nBrown & Brown, Inc. (BRO) : Free Stock Analysis Report\nRoot, Inc. (ROOT) : Free Stock Analysis Report\nCorebridge Financial, Inc. (CRBG) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2442934872"}