AIG subsidiary files bankruptcy amid ongoing lawsuit by former execs
December 20, 2022 by
A subsidiary of insurer American International Group Inc. filed for Chapter 11 bankruptcy Tuesday, a move panned by a group of former executives suing the insurer.
AIG Financial Products Corp. made the filing Wednesday in the U.S. Bankruptcy Court for the District of Delaware and plans to reorganize. AIG said in a regulatory filing that the reorganization won’t have a material impact on its consolidated balance sheets or those of Corebridge Financial Inc. (formerly AIG Life & Retirement).