AIG said it held 48.4% of Corebridge's common stock as of June 9, 2024 (the Deconsolidation Date). The company said it met the requirements to deconsolidate Corebridge on that date because it waived its right to majority representation on Corebridge's board and one of its 1 designees resigned from the board.

8-KRegulation FD DisclosureFiled Jun 25, 2024Period of report Jun 24, 2024Summary published (UTC) Oct 26, 2026

Key points

AI summary

AIG said it held 48.4% of Corebridge's common stock as of June 9, 2024 (the Deconsolidation Date). The company said it met the requirements to deconsolidate Corebridge on that date because it waived its right to majority representation on Corebridge's board and one of its 1 designees resigned from the board.
The company said it will reflect Corebridge's historical results for all periods presented as discontinued operations after the Deconsolidation Date. It said it elected the fair value option for its retained interest, using Corebridge's stock price as fair value, and will include Corebridge dividends and changes in its stock price in net investment income.
AIG said the recast Other Operations segment results exclude Corebridge's corporate expenses, interest expense and asset management business. The results include certain legacy life reinsurance arrangements previously reported in the Life and Retirement segment. The company said its previously reported General Insurance segment results were not affected.

Summary

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Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call. Some paragraphs were omitted because their support in the source could not be confirmed.

Corebridge Deconsolidation Timing and Accounting Requirements

AIG said it held 48.4% of Corebridge's common stock as of June 9, 2024 (the Deconsolidation Date). The company said it met the requirements to deconsolidate Corebridge on that date because it waived its right to majority representation on Corebridge's board and one of its 1 designees resigned from the board.

Source · Based on the filing body and exhibits

Accounting Treatment After Deconsolidation

The company said it will reflect Corebridge's historical results for all periods presented as discontinued operations after the Deconsolidation Date. It said it elected the fair value option for its retained interest, using Corebridge's stock price as fair value, and will include Corebridge dividends and changes in its stock price in net investment income.

Source · Based on the filing body and exhibits

Scope of Other Operations Segment Recast

AIG said the recast Other Operations segment results exclude Corebridge's corporate expenses, interest expense and asset management business. The results include certain legacy life reinsurance arrangements previously reported in the Life and Retirement segment. The company said its previously reported General Insurance segment results were not affected.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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