“Of the $1 billion of parent expenses, we expect that approximately $300 million will move to Corebridge upon deconsolidation.”

In context

“pieces that will get to this result, including the size and timing of the Corebridge IPO, additional capital management actions and continued progress on reducing expenses. As we've improved expense ratios in General Insurance, one of the key drags on ROCE is corporate expenses, which we have been reducing through AIG 200 and work on the separation, but there remains more work to be done. As Peter noted, with respect to AIG 200, we continue to achieve significant milestones and, in the first quarter, reached $890 million of exit run rate savings with $590 million of that realized to date. We currently expect to have full line of sight into the $1 billion of exit run rate savings either contracted or identified by the end of the second quarter, 6 months earlier than originally planned. Of the $1 billion of parent expenses, we expect that approximately $300 million will move to Corebridge upon deconsolidation. We will continue to provide updates over time, but the components to get to a 10% ROCE, our continued growth in underwriting profit; improved net investment income as we benefit from higher interest rates; continued execution on expense management, particularly at parent; and optimizing capital allocation in terms of leverage and returns to shareholders in the form of stock buybacks and dividends whilst making sure that we continue to grow the company. Peter, I will now hand it back to you. Peter Zaffino;President, CEO, Global COO & Director: Thank you, Shane. Operator, we're ready for questions. Operator: [Operator Instructions] We will begin with Elyse Greenspan with Wells Fargo. Elyse Greenspan: My first question is on the capital return that you guys laid out. So you guys have ju”