Article ID: cb58d3fed9d77cbe4db87ed777809085261edb18260dbcf912237183acf76b24
Source ID: secondary:businessinsurance.com
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URL: https://www.businessinsurance.com/former-aig-life-unit-in-22b-merger-with-equitable/
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Former AIG life unit in $22B merger with Equitable - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Former AIG life unit in $22B merger with Equitable Mergers and Acquisitions AIG Mar 26, 2026 (Reuters) – U.S. insurers Equitable and Corebridge Financial said on Thursday they will merge in an all-stock deal that would create a $22 billion retirement, life insurance and asset management company. Corebridge, carved out of AIG in 2022, is one of the largest U.S. providers of retirement and insurance products. Equitable, which owns asset manager AllianceBernstein, provides retirement and protection strategies. The combined company will have more than $1.5 trillion in assets under management and administration and serve more than 12 million customers. Insurers are seeking scale to stay competitive, diversify their business, and strengthen their position in expanding markets such as retirement and wealth. “The combined company will benefit from a strong competitive position and accelerated growth across retirement, life and institutional markets, as well as asset and wealth management,” Equitable CEO Mark Pearson said. Each outstanding Corebridge share will be exchanged for one share of the new parent company, while each outstanding Equitable share will be exchanged for 1.55516 shares. Equitable had a roughly $10.7 billion market capitalization as of last close, while Corebridge was valued at about $11.6 billion, according to LSEG. The combined entity will be headquartered in Houston and operate under the Equitable name. It is expected to generate more than $5 billion of operating earnings. Corebridge CEO Marc Costantini will lead the combined company, while Equitable CEO Mark Pearson will serve as executive chair. Corebridge shareholders will own about 51% of the combined company, while Equitable investors will hold roughly 49%. The companies set a breakup fee of $475 million if the deal falls through. Morgan Stanley advised Corebridge, while Goldman Sachs advised Equitable. 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