
Corebridge Financial is an American multinational financial services company. It provides annuities, life insurance, retirement solutions, and other services. Corebridge was formed after AIG performed a spin-off on the company via an IPO in 2022.
Corebridge was formed as a result of a spin-off of AIG's retirement, life insurance, and wealth management segments. In 2020, AIG announced plans to perform the spin-off with a 2022 IPO. In July 2021, the company announced that Blackstone Group would acquire 9.9% of the new unit for $2.2 billion cash. Blackstone and AIG also entered a long-term asset management agreement for about one quarter of AIG's life and retirement portfolio, set to increase in subsequent years.