secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN INTERNATIONAL GROUP, INC. (AIG)
CIK:        0000005272
Form:       8-K
Filed at:   2024-06-13T23:59:59+00:00
Accession:  0000005272-24-000063
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AIG deconsolidates Corebridge after stake drops to 48.4%; reports pro forma results as discontinued ops
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- AIG reduced Corebridge ownership to 48.4% and waived board majority rights on June 9, 2024, ending consolidation.
- Historical Corebridge results will be reported as discontinued operations starting Q2 2024; fair value option elected for retained stake.
- AIG sold ~5% (30M shares) of Corebridge on May 30, 2024 for $876M; pending sale of 20% to Nippon Life for $3.8B ($31.47/sh) expected Q1 2025.
- Pro forma Q1 2024 net income attributable to AIG common shareholders is $2,370M vs. reported $1,194M, reflecting deconsolidation adjustments.
- AIG will account for its 48.4% Corebridge interest as an equity method investment at fair value; changes in stock price included in net investment income.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/5272/000000527224000063/0000005272-24-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/5272/000000527224000063/aig-20240609.htm
  HTML page:      https://secwatch.observer/filing/0000005272-24-000063

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