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AIG Is Moving In The Right Direction

AIG reported Q1 results on May 3rd, beating expectations for earnings and revenue. There were a number of positive items discussed in management commentary, beyond the strong quarterly performance. First, AIG is progressing in the spinoff of the Life and Retirement business into a new entity, named Corebridge, in order to allow AIG to focus on property and casualty business lines. Second, AIG has entered an agreement with BlackRock to manage assets for AIG and Corebridge. Third, the board increased the authorized share repurchase to $6.5 Billion.
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