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
Elliptic Sets the Engineering Bar for On-Chain Risk With “Built for Compliance” Paper as New Rules Take Hold and Banks Launch a Joint Stablecoin1.10.2026 16:40:00 EEST | Press release
Elliptic, the global leader in on-chain risk management, today published Built for compliance, a paper setting out the nine engineering decisions that determine whether an on-chain risk system can support fast, accurate and defensible compliance decisions at agentic scale. Machines are already moving money on their own, at machine speed. Compliance teams now have to make hundreds of thousands of decisions a day, at that same speed. However, many on-chain risk systems were never engineered to support that pace. A compliance system that computes exposure on a schedule delivers stale results. One that defines blockchain coverage loosely enough lets a screening miss exposure entirely. A system that skips testing disaster recovery, a spike or an outage, takes down the customer’s compliance system too. That gap between machine speed and system design is exactly what regulators are now closing. As US regulators put together market-structure regulation, the GENIUS Act's stablecoin rules take h
Andersen Global Enhances Pakistan Legal Presence with New Member Firm1.10.2026 16:30:00 EEST | Press release
Andersen Global strengthens its legal presence in Pakistan as Samdani & Qureshi, a collaborating firm since 2021, rebrands to Andersen Legal in Pakistan and is the latest member firm to join the organization. Headquartered in Islamabad, Andersen Legal in Pakistan advises domestic and international clients, including businesses, investors, financial institutions, public sector entities, development organizations, and individuals, on legal, commercial, and regulatory matters. The firm also handles arbitration and dispute resolution, advising on complex transactions, investments, finance, projects, and contentious matters in Pakistan and across borders. “Our approach is grounded in senior attention, clear communication, and disciplined analysis, with a focus on delivering advice that clients can put into action,” said Nudrat Ejaz Piracha, partner at Andersen Legal in Pakistan. “Joining Andersen Global enables us to build on this approach by drawing on additional capabilities and perspecti
Impartner Releases AI Ecosystem Playbook to Help Organizations Move from AI Experimentation to Execution1.10.2026 16:00:00 EEST | Press release
Impartner, the world’s leading partner revenue orchestration platform, today announced the release of its AI Ecosystem Playbook, a new resource designed to help leaders and teams assess their current AI capabilities, identify areas where AI can support business goals, and develop a practical path to implementation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001661549/en/ Impartner’s AI Ecosystem Playbook helps organizations assess AI readiness and identify opportunities to apply AI across PRM 3.0, partner revenue orchestration, and the partner lifecycle. As AI moves from experimentation into everyday operations, companies need more than a collection of potential applications. They need a framework for understanding where they are ready to apply AI, where foundational gaps could limit its impact, and which opportunities should be prioritized. Impartner’s AI Ecosystem Playbook provides guidance through a maturity model,
Whiteford Adds Six Partners in New York City, Expanding its Litigation, International and Corporate Practices1.10.2026 16:00:00 EEST | Press release
Whiteford, Taylor & Preston, a full-service law firm with offices across the East Coast, today announced that six partners from Chambers-rated Lazare Potter Glazer & Moyle LLP have joined Whiteford’s New York office: David E. Potter, James F. Moyle, Johannes K. Gäbel, Jaipat Singh Jain, Anna Pia D. Felix and Jacob Englander. This team expands Whiteford's New York office to more than two dozen attorneys and deepens the firm's commercial and securities litigation, employment, cross-border and corporate capabilities in the New York market. The six partners bring decades of combined experience representing mid-market companies, investment advisers, hedge funds, foreign corporations, entrepreneurs and executives in litigation, regulatory investigations, and complex business transactions. "We are expanding with our clients, our markets and our reputation," said Martin Fletcher, Whiteford's Managing Partner. "This team validates our approach. Whiteford’s platform is designed to help grow and
Skechers Enters Super Shoe Era With Innovative Skechers AERO Elite1.10.2026 15:20:00 EEST | Press release
Skechers is redefining what it means to run fast with the Skechers AERO Elite. The latest addition to the innovative Skechers AERO Series makes its global racing debut today—marking a landmark moment as the performance brand’s first super shoe. Engineered to perform from 5Ks to marathons, the design minimizes weight and maximizes responsiveness, all while delivering Skechers’ signature comfort. The AERO Elite is built to win with the performance runners at any level need to go further, faster, and achieve that next personal record. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001865320/en/ Introducing the Skechers AERO Elite, the brand’s first super shoe designed for racing. “The Skechers AERO Elite is the culmination of years of elite-level running innovation—our most technically advanced running shoe to date and a direct statement of intent as we look ahead to the 2028 Summer Games in Los Angeles,” said Catherine Zou,
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