4th May 2022

AIG has active and improved first quarter

AIG highlights for first quarter 2022 results are:
-Significant progress on Life and Retirement separation from AIG, with key steps taken toward the establishment of a standalone capital structure, public filing of the S-1
registration statement, Corebridge Financial brand debut and strong independent additions to the Corebridge Board of Directors
-Announced asset management relationship with BlackRock to manage up to $150bn of liquid assets for AIG and Corebridge
-General Insurance combined ratio of 92.9 improved by 5.9 points from the prior year quarter
-General Insurance adjusted accident year combined ratio of 89.5 improved by 2.9 points
-Net income per diluted common share was $5.15 compared to $4.41
-Adjusted after-tax income (AATI) per diluted common share increased 24% to $1.30 from $1.05, driven by a $373m increase in General Insuranc underwriting income
-Repurchased $1.4bn of AIG common stock
-AIG Board of Directors increased the share repurchase authorisation to $6.5bn
-$9.1bn of AIG Parent liquidity at 31st March 2022

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