American International Group Inc. (AIG), a leading entity in the insurance sector, has successfully finalized the sale of approximately 120 million shares of its Corebridge Financial Inc. common stock to Nippon Life Insurance Company. The shares were sold at a price of $31.47 each, culminating in a total transaction value of $3.8 billion.
In an announcement made in May 2024, American International Group revealed its agreement to divest around 20% of its holdings in Corebridge common stock to Nippon Life Insurance Co. for the same amount of $3.8 billion. According to the terms of this agreement, AIG committed to retaining a 9.9% ownership stake in Corebridge for a period of two years following the completion of the sale.
