AIG deconsolidates Corebridge Financial for accounting purposes; waives board majority right

AMERICAN INTERNATIONAL GROUP, INC.

AIG waived right to majority Corebridge board representation; director Chris Schaper resigned.
Deconsolidation for accounting purposes effective June 10, 2024; AIG owns ~48.35% of CRBG.
CEO Peter Zaffino calls deconsolidation a 'major achievement'; he remains Chairman of Corebridge board.
Corebridge board reduced to 12 members; AIG retains significant stake but no longer controls.

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