Corebridge Financial to Sell Laya Healthcare to AXA
3.8.2023 08:00:00 EEST | Business Wire | Press release
Corebridge Financial, Inc. (NYSE: CRBG) today announced that it has entered into a definitive agreement to sell its subsidiary, Laya Healthcare Limited (“laya healthcare”), to AXA for a total consideration of €650 million in cash. The sale of laya healthcare is expected to close in the fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions.
Peter Zaffino, Chairman and Chief Executive Officer of majority shareholder American International Group (NYSE: AIG), and Chairman of the Board of Directors of Corebridge, said: “This divestiture allows Corebridge to streamline its portfolio and focus on core Life & Retirement products and solutions in the United States. AXA is an excellent owner for laya healthcare, with a global platform that will enable the business to continue to build on the success of its highly regarded member-centric approach to health insurance.”
Laya healthcare, which is the second largest health insurance provider in Ireland, is a full-service managing general agent headquartered in Cork, Ireland and offers a diverse suite of innovative health insurance benefits and services in the Irish health insurance market, along with life insurance and travel insurance.
Kevin Hogan, President and Chief Executive Officer of Corebridge, said: “Since AIG’s acquisition of laya healthcare in 2015, the company has solidified its position as a leading wellness and connected healthcare provider, while developing a strong track record of growth and profitability. We look forward to working with the AXA team and our laya healthcare colleagues on a smooth transition of the business.”
Morgan Stanley & Co. LLC acted as financial advisor and A&L Goodbody LLP acted as legal counsel to Corebridge.
About Corebridge Financial
Corebridge Financial, Inc. makes it possible for more people to take action in their financial lives. With more than $365 billion in assets under management and administration as of March 31, 2023, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us on LinkedIn, YouTube and Facebook.
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide insurance solutions that help businesses and individuals in approximately 70 countries and jurisdictions protect their assets and manage risks. For additional information, visit www.aig.com. AIG common stock is listed on the New York Stock Exchange.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
Forward Looking Statements
Certain statements in this press release and any related oral statements constitute forward-looking statements. These statements are not historical facts but instead represent only the relevant party’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside the relevant party’s control. It is possible that the transaction will not be completed within the expected timeframe or at all, or that the transaction will take a materially different form from those contemplated by these statements. Each party referenced in this press release only assumes responsibility for its statements and does not affirm or otherwise adopt the statements of any other party.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230802222558/en/
Contact information
Corebridge
Josh Smith (Investors): investorrelations@corebridgefinancial.com
Matt Ward (Media): media.contact@corebridgefinancial.com
AIG
Quentin McMillan (Investors): quentin.mcmillan@aig.com
Dana Ripley (Media): dana.ripley@aig.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LLMs Are Getting Smarter, But Not Safer: Veracode 2026 GenAI Code Security Report Finds AI-Generated Code Security Has Stalled at 56% Pass Rate28.7.2026 14:50:00 EEST | Press release
Veracode, the global leader in application risk management, today released its 2026 GenAI Code Security Report which reveals that, despite rapid advances in AI coding capabilities, security has stalled. Across four testing snapshots and more than 100 models tracked since the program began, the average security pass rate sits at 56 percent — virtually unchanged since last year’s report. Each model was evaluated on code-generation tasks spanning multiple programming languages and vulnerability categories, under standardized conditions with no security-specific prompting. AI now generates roughly half of all committed code, but the security gap isn’t narrowing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260728207685/en/ Fig. 1: The GenAI Code Security Report Leaderboard: Summer 2026 The contrast is stark: models generate compilable code at a near-universal syntax pass rate of ~100 percent. When it comes to security, they fa
Bending Spoons enters into €500 million SACE-backed term loan facility28.7.2026 14:30:00 EEST | Press release
Bending Spoons S.p.A. (NASDAQ: BSP) announced today that it has entered into a new €500 million medium-long-term financing provided by HSBC Continental Europe (acting as Sole Coordinator and MLA), Intesa Sanpaolo S.p.A. (acting as SACE Agent and MLA), and BPER Banca Corporate & Investment Banking (acting as Structuring Advisor and MLA). The facility, which matures in March 2031, benefits from a guarantee provided by SACE, in advancement of SACE’s mission to support the international growth of Italian businesses. Together with €495 million of additional term loan A financing and a €490 million increase in commitments under Bending Spoons’ revolving credit facility, the transaction brings the aggregate amount of new and expanded facilities agreed by Bending Spoons from the beginning of the second quarter to €1.49 billion. Both the term loan A financing and the additional revolving credit facility commitments are available for general corporate purposes and acquisitions, with each of the
Promega Achieves 100% Renewable Electricity Across Global Operations28.7.2026 14:00:00 EEST | Press release
Promega Corporation today released its 2026 Corporate Responsibility Report, detailing significant environmental and social progress across its global operations. The report marks three milestones for the company: achievement of 100% renewable electricity across all global operations, the completion of a comprehensive value chain emissions inventory and validation of near-term emissions reduction targets by the Science Based Targets initiative (SBTi). “Our 100% renewable electricity reflects years of deliberate investment, from solar arrays on the Madison campus to renewable partnerships in the communities where we operate,” says Corey Meek, Promega Global Sustainability Manager. “Looking forward, we will continue working to strategically reduce the environmental impact of our global business.” Promega recently completed its first comprehensive greenhouse gas inventory across its global operations and value chain. Scope 3 emissions, which occur outside direct operations, represent abou
Lenovo Powers Esports World Cup 2026 as a Founding Partner28.7.2026 12:00:00 EEST | Press release
The Esports Foundation (EF) and Lenovo today announced an expanded partnership, with Lenovo becoming a Global Partner of the Esports World Cup 2026 (EWC) and powering the world’s largest esports event with its high-performance Legion gaming devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260712251027/en/ The EWC 2026 will be bringing the world’s largest esports event to Paris for the first time, welcoming more than 2,000 players, 200 esports teams and fans from over 100 countries between July 6 and August 23. As EWC expands into the international stage, Lenovo joins the event’s Founding Partner roster, bringing its latest Legion desktop PCs and monitors to competition arenas, training facilities, broadcast studios, and festival spaces during the seven-week event. “We are excited to welcome Lenovo as a Global Founding Partner for the Esports World Cup 2026, as we prepare to bring thousands of players and millions of f
Ten Finalists Announced for the Reply AI Film Festival, the International Competition Bringing Together Cinema and Artificial Intelligence28.7.2026 11:00:00 EEST | Press release
The Reply AI Film Festival returns for its third edition, reaffirming its role as a meeting point for cinema, creativity and artificial intelligence. The international competition created by Reply – open to creatives experimenting with new AI technologies and tools in the production of short films – has announced its ten finalists. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260728146486/en/ The international competition created by Reply – open to creatives experimenting with new AI technologies and tools in the production of short films – has announced its ten finalists. The festival will take place in Veniceduring the days of the 83rd Venice International Film Festival of La Biennale di Venezia. Selected from more than 3,000 short films submitted from 76 countries, the finalist works will take centre stage at the awards ceremony organised by Reply and Mastercard, scheduled for Sunday, 6 September, at the Match Point Are
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom