AIG Says Met Requirements For Deconsolidation Of Corebridge For Accounting Purposes; Peter Zaffino To Continue As Chairman Of Corebridge
Portfolio Pulse from Benzinga Newsdesk
AIG has met the requirements for the deconsolidation of Corebridge Financial for accounting purposes. AIG owns approximately 48.35% of Corebridge's common stock. The deconsolidation follows AIG's decision to waive its right to majority representation on Corebridge's Board of Directors and the resignation of Chris Schaper from Corebridge's Board.
June 10, 2024 | 10:33 am
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NEUTRAL IMPACT
Corebridge Financial has been deconsolidated from AIG's financial statements. Peter Zaffino will continue as Chairman of Corebridge, ensuring continuity in leadership.
The deconsolidation from AIG's financial statements may not have a significant immediate impact on Corebridge's operations. However, the continuity in leadership with Peter Zaffino remaining as Chairman provides stability.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AIG has deconsolidated Corebridge Financial for accounting purposes, retaining 48.35% ownership. This move could streamline AIG's financial reporting and potentially improve its financial metrics.
The deconsolidation of Corebridge Financial allows AIG to potentially improve its financial metrics by removing Corebridge's financials from its consolidated statements. This could be seen positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100