Corebridge’s $1 Billion Secondary Offering

November 10, 2025

Cleary Gottlieb is representing J.P. Morgan Securities LLC, as the underwriter, in a $1 billion secondary public offering by American International Group Inc. (AIG) of shares of common stock of Corebridge Financial Inc. (Corebridge) at a price to the public of $31.10 per share.

Corebridge is the former life and retirement subsidiary of AIG.

AIG is offering 32.6 million shares of Corebridge common stock. All of the shares are being offered by AIG as the selling stockholder, and Corebridge will not receive any proceeds from the sale of shares by AIG.

The offering priced on November 4, 2025, and closed on November 6, 2025.

Cleary has represented the underwriters in numerous prior securities offerings by AIG and by Corebridge, including Corebridge’s IPO in 2022. Most recently, Cleary represented:

  • the underwriter in the $1 billion secondary public offering by AIG of shares of Corebridge common stock in August 2025;
  • the underwriters in Corebridge’s hybrid notes offering that raised $600 million in November 2024;
  • the underwriters in Corebridge’s hybrid notes offering that raised $750 million in September 2024; and
  • the underwriters in Corebridge’s senior notes offering that raised $750 million in December 2023.

For more information, please see the press release.

The Cleary corporate team included partners Synne Chapman, Craig Brod, and Jeff Karpf; and associates Harry Morgan, Marc Chien, and Saleh Ismail. Partner Matthew Brigham and associate Nathaniel Pribil advised on tax matters. Partners Chase Kaniecki and Samuel Chang, and associate Ryan Brown advised on regulatory matters.