Nippon Life to Buy 20% of Corebridge From AIG for $3.8 Billion [BNN Bloomberg (Canada)]
American International Group, Inc. New (AIG)
Last american international group, inc. new earnings: 2/13 06:45 am
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Source: BNN Bloomberg
Japan's largest insurer plans to acquire shares from American International Group Inc. which owns more than 50% of Corebridge, according to a spokesperson for Nippon Life. Under the agreement, Nippon Life will also have a strategic partnership with both firms, the Japanese company said in a statement on Thursday. Nippon Life said the transaction is subject to regulatory approval. The deal marks a major step towards growth in the US for Nippon Life, which said it has been looking for acquisition opportunities at home and overseas. For Houston-based Corebridge, it gains a new anchor investor. AIG spun off its life and retirement business in 2022 in an IPO and has since further pared its interest. Read More: AIG's Corebridge Falls in Debut After Year's Biggest US IPO (1) Corebridge is one of the largest providers of retirement solutions and insurance products in the US and has maintained a strong presence, especially in the individual retirement market, according to the statemen
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