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HOUSTON - American International Group, Inc. (NYSE:AIG), a prominent player in the insurance industry with a market capitalization of $45.6 billion, has initiated a secondary offering of 30 million shares of Corebridge Financial, Inc. (NYSE:CRBG) common stock, according to a press release statement issued by Corebridge Financial. InvestingPro analysis indicates AIG is currently trading below its Fair Value, suggesting potential upside opportunity.
The offering represents a portion of AIG’s holdings in Corebridge, which has approximately 538 million total shares of common stock outstanding. AIG has also granted the underwriter, Morgan Stanley & Co. LLC, a 30-day option to purchase up to an additional 4.5 million shares.
All net proceeds from the offering will go to AIG, with Corebridge not receiving any funds from the transaction.
The offering is being made through a prospectus and accompanying prospectus supplement. A registration statement for these securities was filed with the U.S. Securities and Exchange Commission on November 6, 2023, and became effective automatically.
Corebridge Financial is a major provider of retirement solutions and insurance products in the United States, with more than $415 billion in assets under management and administration as of June 30, 2025.
The transaction represents AIG’s continued reduction of its stake in Corebridge Financial, which was previously part of AIG’s life and retirement business before being partially spun off.
In other recent news, American International Group, Inc. (AIG) has been the focus of several notable developments. Keefe, Bruyette & Woods raised AIG’s stock price target to $97, up from $94, while maintaining an Outperform rating. This adjustment came after AIG’s first quarter earnings report for 2025, with analyst Meyer Shields citing solid growth and expense reductions as key factors. Shields also increased the earnings per share estimates for 2025, 2026, and 2027, reflecting AIG’s recent performance and future projections. In addition, AIG announced the appointment of John Neal as President, effective December 1, 2025, where he will oversee various insurance businesses and join the executive leadership team. At the recent Annual Meeting of Shareholders, AIG’s board members were re-elected with strong shareholder support, and the executive compensation policies received majority approval. These developments highlight AIG’s strategic moves and shareholder confidence in the company’s direction.
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