Corebridge Financial, Inc. will be a standalone public company. Alan Colberg and Trish Walsh will join the Board of Directors effective September 1, 2022. No assurance can be given regarding the form that future separation transactions may take or the specific terms or timing thereof.

American International Group, Inc. (NYSE: AIG) announced today that Alan Colberg, retired CEO of Assurant, Inc., and Trish Walsh, Chief Legal Officer of Stripe, Inc., will join the Board of Directors of Corebridge Financial, Inc. (Corebridge) on September 1, 2022.

"The official appointment of Alan and Trish as independent directors is another important step in preparing Corebridge to be a standalone public company,"

said Peter Zaffino, Chairman and CEO of AIG and Chairman of the Board of Corebridge.

"They each bring substantial experience and industry expertise that will benefit Corebridge and its stakeholders in the long run."

Mr. Colberg previously served as Assurant, Inc.'s Chief Executive Officer and a Director from January 2015 until his retirement in January 2022. Prior to this position, he was Executive Vice President of Marketing and Business Development at Assurant. Mr. Colberg joined Assurant in March 2011 after 22 years as a consultant for Bain & Company, Inc., where he led the firm's global financial services practice.

Since January 2020, Ms. Walsh has served as Stripe, Inc.'s Chief Legal Officer. Ms. Walsh previously worked as the Chief Legal Officer for Voya Financial, Inc. from 2015 to 2020. She was Deputy General Counsel at Cigna and MassMutual before joining Voya. Ms. Walsh previously worked as an associate at Cleary, Gottlieb, Steen & Hamilton LLP and for the SEC's Office of General Counsel.

There can be no assurances about the form that future separation transactions will take, the specific terms or timing thereof, or that a separation will occur. Any separation transaction will be subject to various conditions and approvals, including receipt of insurance department and other required regulatory approvals, as well as satisfaction of any applicable Securities and Exchange Commission requirements (SEC).

Source: AIG news