AIG Amends Corebridge Agreement, Enhances Board Independence

The latest update is out from American International Group (AIG).

American International Group, Inc. (AIG) has waived its rights to dominate the candidate slate for Corebridge Financial, Inc.’s Board of Directors, effectively allowing more independence in Corebridge’s governance. The waiver, part of a separation agreement amendment, leads to AIG’s deconsolidation from Corebridge for accounting purposes following the resignation of AIG’s Executive Vice President from the Board. This strategic shift signifies a pivotal change in the relationship between AIG and Corebridge, with detailed information to be disclosed in AIG’s upcoming quarterly report.

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