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AIG Sets Tentative September Date for Delayed Life Unit IPO

  • Volatility in May, June prompted the deferral, insurer says
  • The IPO is ‘something we are laser-focused on,’ Zaffino says
AIG CEO Peter Zaffino

AIG CEO Peter Zaffino

Photographer: Christopher Occhicone/Bloomberg
Updated on

American International Group Inc. said September is the next window for an initial public offering of life and retirement business Corebridge Financial Inc. after deferring the listing due to market volatility.

“While completing the IPO is a significant priority for us and something we are laser-focused on, we believe this is an attractive business and did not want to execute a transaction that would be detrimental to stakeholders in the long run,” AIG Chief Executive Officer Peter Zaffino said on a conference call with analysts and investors Tuesday.