AIG prices $1 billion secondary offering of Corebridge shares

HOUSTON - American International Group, Inc. (NYSE:AIG), a prominent insurance industry player with a market capitalization of $45.56 billion and a "Fair" financial health rating according to InvestingPro, has priced its secondary offering of Corebridge Financial, Inc. (NYSE:CRBG) common stock at $33.65 per share, according to a press release statement. The offering consists of 30 million existing shares, representing approximately $1.0 billion in gross proceeds.

The transaction, which represents about 5.6% of Corebridge’s approximately 538 million total outstanding shares, is expected to close on Thursday, August 8, 2025, subject to customary closing conditions.

AIG, as the selling stockholder, will receive all net proceeds from the offering. The company has also granted the underwriter, Morgan Stanley & Co. LLC, a 30-day option to purchase up to an additional 4.5 million shares.

This secondary offering follows a registration statement filed with the U.S. Securities and Exchange Commission on November 6, 2023, which became effective automatically. According to InvestingPro’s analysis, AIG’s stock has shown strong momentum with a 14.4% return over the past year, and their research indicates the stock is currently undervalued.

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 ownership 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 launched a secondary offering of 30 million shares of Corebridge Financial, Inc. This offering is part of AIG’s holdings in Corebridge, which has approximately 538 million total shares outstanding. Additionally, AIG has given Morgan Stanley & Co. LLC a 30-day option to purchase up to an additional 4.5 million shares. In another development, AIG announced the appointment of John Neal as President, effective December 1, 2025. Neal will lead AIG’s General Insurance organization and join the Executive Leadership team. At its recent Annual Meeting of Shareholders, AIG’s shareholders approved the election of board members and executive compensation policies, indicating strong shareholder support. Furthermore, Keefe, Bruyette & Woods raised their price target for AIG shares to $97, maintaining an Outperform rating. The firm cited solid growth and expense reductions as reasons for their optimistic outlook, adjusting earnings per share estimates for 2025, 2026, and 2027.

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