AIG LIFE AND RETIREMENT

AIG Life and Retirement was the life insurance and retirement services division of American International Group (AIG) for decades, operating as one of the largest providers of annuities, life insurance, and retirement plans in the United States. The business traced its origins to the American General Insurance Company, founded in Houston, Texas, in 1926, and grew through a series of acquisitions including the Variable Annuity Life Insurance Company (VALIC) in 1977. AIG acquired American General in 2001 for USD 23 billion.

In September 2022, AIG completed a spinoff of the Life and Retirement division, creating Corebridge Financial, Inc. as an independent, publicly traded company. The IPO launched on September 15, 2022, on the New York Stock Exchange under the ticker symbol CRBG, raising USD 1.68 billion -- the largest U.S. IPO of 2022. Blackstone Group had previously acquired a 9.9% strategic stake for USD 2.2 billion in July 2021 as part of a long-term asset management partnership. In December 2024, Nippon Life Insurance acquired a 21.6% ownership stake from AIG for approximately USD 3.8 billion.

As of 2025, Corebridge Financial manages over USD 385 billion in assets under management and administration, serves nearly 4 million in-force life insurance policies, and administers nearly 20,000 retirement plans across all 50 states. In March 2026, Corebridge announced a definitive all-stock merger with Equitable Holdings valued at approximately USD 22 billion; the combined company will operate under the Equitable name with Corebridge shareholders owning approximately 51% of the combined entity.