American International Group (AIG) announced it has met the requirements for the deconsolidation of Corebridge Financial (CRBG) for accounting purposes. The deconsolidation is a result of AIG’s decision to waive its right to majority representation on the Corebridge Financial Board of Directors and the resignation of Chris Schaper, Executive Vice President, Global Chief Underwriting Officer, AIG, from Corebridge Financial’s Board of Directors. Zaffino will continue as Chairman of the Corebridge Financial Board of Directors which has been reduced to 12 members. AIG owns approximately 48.35% of Corebridge Financial’s common stock.
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