UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Section 8 - Other Events
| Item 8.01. | Other Events. |
On November 2, 2021, American International Group, Inc. (the “Company”) completed its previously announced sale (the “Transaction”) of a 9.9% equity ownership interest in SAFG Retirement Services, Inc., which is the holding company for the Company’s Life & Retirement business, to Argon Holdco LLC (“Buyer”), a newly formed entity affiliated with Blackstone Inc., subject to the terms of a stock purchase agreement, dated as of July 14, 2021, by and between the Company and Buyer (the “Purchase Agreement”).
The foregoing description of the Purchase Agreement and the Transaction does not purport to be complete and is qualified in its entirety by the terms and conditions of the Purchase Agreement, a copy of which was attached as Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021.
On November 2, 2021, the Company issued a press release announcing the completion of the Transaction. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Section 9 - Financial Statements and Exhibits
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 99.1 | Press release of American International Group, Inc., dated November 2, 2021. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
EXHIBIT INDEX
|
Exhibit No. |
Description | |
| 99.1 | Press release of American International Group, Inc., dated November 2, 2021. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMERICAN INTERNATIONAL GROUP, INC. | ||
| (Registrant) | ||
| Date: November 2, 2021 | By: | /s/ Rose Marie E. Glazer |
| Name: Rose Marie E. Glazer | ||
| Title: Senior Vice President, Corporate Secretary and Deputy General Counsel | ||
Exhibit 99.1
 |
FOR IMMEDIATE RELEASE |
Press Release
www.aig.com
AIG Contacts:
Quentin McMillan (Investors): Quentin.Mcmillan@aig.com
Dana Ripley (Media): Dana.Ripley@aig.com
Blackstone Contacts:
Weston Tucker (Investors): Weston.Tucker@blackstone.com
Matt Anderson (Media): Matthew.Anderson@blackstone.com
AIG and Blackstone Close Transaction Relating to Life & Retirement Business
NEW YORK – Nov. 2, 2021 – American International Group, Inc. (NYSE: AIG) and Blackstone (NYSE: BX) today announced that the previously disclosed transaction for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business and for Blackstone to manage an initial $50 billion of Life & Retirement’s existing investment portfolio has closed.
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About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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FOR IMMEDIATE RELEASE |
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
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