The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

Stage

Spinoff / Spinout | Alive

Total Raised

$2.2B

About AIG - Life & Retirement Business

American International Group (NYSE:AIG), aka AIG, is a global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States.

AIG - Life & Retirement Business Headquarter Location

2919 Allen Parkway Woodson Tower

Houston, Texas, 77019,

United States

212-458-2020

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Latest AIG - Life & Retirement Business News

AIG beats profit estimates on strong underwriting gains

Aug 9, 2022

NEW YORK: Insurer American International Group Inc beat market estimates for quarterly profit on Monday (Aug 8) as a jump in underwriting income cushioned the blow from lower investment returns.Net premiums written in the company's general insurance business rose 5% on a constant currency basis in the April-June quarter to US$6.9 billion (RM30.7 billion), while underwriting income climbed 73%.That helped AIG – one of the world’s biggest commercial insurers – report adjusted after-tax income attributable to common shareholders of US$1.19 per share. Analysts had expected a figure of US$1.10 a share, according to Refinitiv IBES data.But the insurer’s consolidated net investment income fell 29% to US$2.6 billion, partly hurt by weakness in alternative investments such as private equity.An unabating surge in inflation, rising interest rates and the toll of the Russia-Ukraine war have rattled financial markets this year, sapping the investment income that had powered insurers’ profits last year.AIG also blamed the market volatility for a delay in the initial public offering (IPO) of its life and retirement unit.The unit – set to be renamed Corebridge Financial Inc when it goes public – had filed for its offering in March and planned to complete its listing by the end of June, subject to market conditions.“Completing the IPO is a significant priority for us and we remain ready to execute,” CEO Peter Zaffino said without giving a new deadline for the offering.AIG had first announced the move in 2020 and it sold a 9.9% stake in the unit to private equity firm Blackstone Group Inc for US$2.2 billion last year. – Reuters

  • Where is AIG - Life & Retirement Business's headquarters?

    AIG - Life & Retirement Business's headquarters is located at 2919 Allen Parkway, Houston.

  • What is AIG - Life & Retirement Business's latest funding round?

    AIG - Life & Retirement Business's latest funding round is Spinoff / Spinout.

  • How much did AIG - Life & Retirement Business raise?

    AIG - Life & Retirement Business raised a total of $2.2B.

  • Who are the investors of AIG - Life & Retirement Business?

    Investors of AIG - Life & Retirement Business include American International Group and Blackstone.

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