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AIG's Life Insurance Division Completes Successful $1.68 Billion Listing

Life insurance and pension savings subdivision Corebridge Financial controlled by AIG completed a successful $1.68 billion IPO.
AIG's Life Insurance Division Completes Successful $1.68 Billion Listing

The Internet resource UkrStrakhovanie reported earlier that the initial public offering provided for the sale of 80 million shares at a price from $21 to $24. The expected amount of funds raised was $1.9 billion.

Thus, the IPO result is in line with the lower valuer of the range set by the company, but is the largest U.S. listing in 2022. According to Bloomberg information, the funds raised by Corebridge will be used by AIG, which will also control nearly 78% of Corebridge's shares.

Let us remind you that the AIG listing was scheduled for the year beginning but was postponed due to unstable capital markets. At half year-end, group’s investment return decreased by almost a third to $2.6 billion due to the low yield of alternative capital.

Source: https://www.ukrstrahovanie.com.ua/news/podrazdelenie-aig-po-strahovaniyu-zhizni-provelo-uspeshnyj-listing-na-summu-168-mlrd

Photos are from open sources.

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