AIG Files 8-K for Regulation FD and Financial Disclosures
Ticker: AIG · Form: 8-K · Filed: Jun 25, 2024 · CIK: 5272
Sentiment: neutral
Topics: financial-reporting, regulation-fd, disclosure
Related Tickers: AIG
TL;DR
AIG dropped an 8-K on 6/24 for Reg FD and financials - check it out.
AI Summary
On June 24, 2024, American International Group, Inc. (AIG) filed an 8-K report to disclose information regarding Regulation FD and financial statements. The filing includes details about their common stock and junior subordinated debentures.
Why It Matters
This filing provides important updates on AIG's financial reporting and regulatory compliance, which can influence investor decisions.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of financial information and regulatory compliance, not indicating any immediate operational or financial distress.
Key Numbers
- 1-8787 — Commission File Number (SEC File Number for AIG)
- 13-2592361 — IRS Employer Identification No. (AIG's IRS Number)
Key Players & Entities
- AMERICAN INTERNATIONAL GROUP, INC. (company) — Registrant
- 0000005272-24-000068 (filing_id) — Accession Number
- June 24, 2024 (date) — Date of earliest event reported
- 1271 Avenue of the Americas (address) — Company Business Address
FAQ
What specific financial statements are being disclosed in this 8-K filing?
The filing indicates that financial statements and exhibits are included, but the specific details of these statements are not elaborated upon in the provided text.
What is the significance of the 'Regulation FD Disclosure' item?
Regulation FD (Fair Disclosure) ensures that material information is disclosed to the public simultaneously, preventing selective disclosure to analysts or institutional investors.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on June 24, 2024.
What is AIG's state of incorporation and fiscal year end?
American International Group, Inc. is incorporated in Delaware and its fiscal year ends on December 31.
What types of securities are mentioned in relation to the filing date?
The filing mentions AIG's common stock and junior subordinated debentures 4.875% Series A, both associated with the date June 24, 2024.
Filing Stats: 953 words · 4 min read · ~3 pages · Grade level 12.7 · Accepted 2024-06-24 21:11:33
Key Financial Figures
- $2.50 — ich registered Common Stock, Par Value $2.50 Per Share AIG New York Stock Exchange
Filing Documents
- aig-20240624.htm (8-K) — 42KB
- aigfinsupprecastcrbgdisc.htm (EX-99.1) — 25KB
- aigfinsupprecastcrbgdisc001.jpg (GRAPHIC) — 193KB
- aigfinsupprecastcrbgdisc002.jpg (GRAPHIC) — 50KB
- aigfinsupprecastcrbgdisc003.jpg (GRAPHIC) — 181KB
- aigfinsupprecastcrbgdisc004.jpg (GRAPHIC) — 188KB
- aigfinsupprecastcrbgdisc005.jpg (GRAPHIC) — 164KB
- aigfinsupprecastcrbgdisc006.jpg (GRAPHIC) — 232KB
- aigfinsupprecastcrbgdisc007.jpg (GRAPHIC) — 132KB
- aigfinsupprecastcrbgdisc008.jpg (GRAPHIC) — 122KB
- aigfinsupprecastcrbgdisc009.jpg (GRAPHIC) — 197KB
- 0000005272-24-000068.txt ( ) — 2250KB
- aig-20240624.xsd (EX-101.SCH) — 3KB
- aig-20240624_def.xml (EX-101.DEF) — 15KB
- aig-20240624_lab.xml (EX-101.LAB) — 27KB
- aig-20240624_pre.xml (EX-101.PRE) — 16KB
- aig-20240624_htm.xml (XML) — 4KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. In September 2022, American International Group, Inc. ("AIG" or "we") closed on the initial public offering (the "IPO") of Corebridge Financial, Inc. ("Corebridge"), the holding company for AIG's former Life and Retirement business. Corebridge is traded on the New York Stock Exchange under the ticker symbol "CRBG." As of June 9, 2024 (the "Deconsolidation Date"), AIG held 48.4 percent of the outstanding common stock of Corebridge. On the Deconsolidation Date, AIG met the requirements for the deconsolidation of Corebridge for accounting purposes due to AIG's decision to waive its right to majority representation on the Corebridge Board of Directors (the "Board") and the resignation of one of AIG's designees from the Board. After the Deconsolidation Date, the historical financial results of Corebridge, for all periods presented, are reflected in AIG's condensed consolidated financial statements as discontinued operations in accordance with generally accepted accounting principles in the United States of America ("US GAAP"). Accordingly, after the Deconsolidation Date: (i) AIG has elected the fair value option and will reflect its retained interest in Corebridge as an equity method investment using Corebridge's stock price as its fair value, (ii) dividends received from Corebridge and changes in its stock price will be a component of net investment income in AIG's US GAAP condensed consolidated financial statements and (iii) AIG's adjusted pre-tax income will include Corebridge dividends and exclude changes in the fair value of Corebridge's stock price. As a result of the deconsolidation of Corebridge, we will no longer present the Life and Retirement segment in its entirety and will no longer include asset management within the Other Operations segment. Previously reported results for the General Insurance segment were not impacted by the deconsolidation of Corebridge. The selected financial information attached hereto as Exh
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 99.1 Selected Financial Information Reflecting Treatment of Corebridge Financial, Inc. as Discontinued Operations. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). EXHIBIT INDEX Exhibit No. Description 99.1 Selected Financial Information Reflecting Treatment of Corebridge Financial, Inc. as Discontinued Operations. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
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: June 24, 2024 By: /s/ Christina Banthin Name: Christina Banthin Title: Senior Vice President and Corporate Secretary