The quarter was heralded as “excellent” by AIG chairman and CEO Peter Zaffino.
“General insurance reported outstanding results and life and retirement again delivered a solid performance considering the significant market headwinds in the second quarter,” Zaffino said.
The group deferred the launch of the Corebridge Financial initial public offering (IPO) due to a “high degree of equity market volatility in May and June”, Zaffino updated.
“Deferring the IPO provided us with an opportunity to further accelerate progress on numerous separation initiatives and to solidify the capital structure of this business as a standalone company,” the CEO said.
“Completing the IPO is a significant priority for us and we remain ready to execute, subject to regulatory approvals and market conditions.”
Zaffino hailed a…