Corebridge Financial completed the sale of AIG Life Limited to Aviva plc. The results of AIG Life are now reported in Life and Retirement, affecting segment performance and future strategic direction.

The company is focusing on targeted growth through underwriting discipline, improved retentions, and new business development. They are also deploying capital efficiently and taking a disciplined approach to exposure management.

AIG is actively managing its asset-liability profile and optimizing reinsurance programs to manage volatility and protect the balance sheet. This includes strategic partnerships with reinsurers like Fortitude Re.

Management is focused on expense reduction and operational efficiency, as evidenced by restructuring initiatives and cost savings opportunities. However, specific details on the magnitude of these savings are not provided.

The company continues to execute its capital return program through share repurchases and dividends. A new $10 billion share repurchase program was authorized, and the dividend was increased by 11%.

Management is actively integrating acquired businesses and divesting non-core assets, such as the sale of AIG Life. Successful execution of these strategies is critical for long-term performance.

The filing highlights the impact of adverse developments affecting economic conditions, geopolitical events, and conflicts, including the conflict between Russia and Ukraine and the conflict in Israel. These events could impact financial results.

The occurrence of catastrophic events, both natural and man-made, including the effects of climate change, geopolitical events and conflicts and civil unrest, could negatively impact the company's financial results.

Disruptions in IT systems and the inability to safeguard data due to cyberattacks and security breaches are identified as potential risks.

The General Insurance segment operates in a highly competitive industry against global, national and local insurers and reinsurers and underwriting syndicates. Competition is based on risk acceptance criteria, product pricing, service levels and terms and conditions.

The Life and Retirement segment operates in a highly competitive insurance and financial services industry. Competition is primarily based on product pricing and design, distribution, financial strength, customer service and ease of doing business.

General Insurance seeks to differentiate itself by providing leading expertise and insight to clients, distribution partners and other stakeholders, delivering underwriting excellence and value-driven insurance solutions and providing high quality, tailored end-to-end support to stakeholders.

Management is focused on expense reduction and operational efficiency, as evidenced by restructuring initiatives and cost savings opportunities. The company is also simplifying processes and operating environments to increase competitiveness.

The company is closely monitoring loss cost trends, particularly loss cost trend uncertainty, to ensure that pricing and loss reserving assumptions are proactive and considerate of current and future economic conditions.

AIG is focused on enhancing risk selection, driving consistent underwriting best practices and building robust monitoring standards to improve underwriting results.

AIG is focused on effectively implementing technological advancements, including the use of artificial intelligence (AI), and responding to competitors' AI and other technology initiatives.

The company is investing in consumer-centric efforts to reduce traditional barriers to securing life protection by simplifying the sales and service experience. Digitally enabled processes and tools provide a fast, friendly and simple path to life insurance protection.

Group Retirement continues to enhance its technology platform to improve the customer experience for plan sponsors and individual participants. Retirement Services' self-service tools paired with its employee financial advisors provide a compelling service platform.

A new $10 billion share repurchase program was authorized, and the dividend was increased by 11%. This demonstrates a commitment to returning capital to shareholders.

The redemption of all outstanding shares of Series A Preferred Stock simplifies the capital structure and reduces future dividend obligations.

Capital resources are used to support insurance operations and business strategies, AIG's funding capacity, and capital resources in comparison to internal benchmarks, expectations for capital generation, rating agency expectations for capital, and regulatory standards for capital.

The company is evaluating the potential impacts of the SEC's climate-related disclosure rules, which require detailed climate-related disclosures in registration statements and periodic reports.

AIG's ability to effectively execute on sustainability targets and standards is a key focus of the company.

AIG's ability to address evolving stakeholder expectations and regulatory requirements with respect to environmental, social and governance matters is a key area of focus.

The rising rate environment and the partnership with Blackstone have provided a strong tailwind for fixed and fixed index annuity sales. However, higher interest rates have also resulted in an increase in surrenders.

The company's financial results are impacted by the performance of equity markets, which impacts the performance of the alternative investment portfolio, fee income and net amount at risk.

The company is monitoring the impact of inflation, ongoing labor force and supply chain disruptions and volatile commodity prices, among other factors, on rate adequacy and loss cost trends.