“we continue to expect that post deconsolidation of Corebridge, AIG will achieve a return on common equity at or above 10%.”

In context

“not had in many years. As we look to 2023, our lockup agreement with the underwriters of the IPO with respect to Corebridge common stock expires in March. Subject to ordinary course blackout periods, this means that our likely windows for a secondary offering of Corebridge common stock in the first half of 2023 will be in mid- to late March as well as mid-May to late June. Our current expectation is that the net proceeds will largely be deployed to share repurchases. While we remain committed to consistently returning capital through share repurchases for the foreseeable future, we believe there will be attractive organic growth opportunities in General Insurance and AIG Re given current market dislocations that may prove compelling. Lastly, as we discussed on our second quarter call, we continue to expect that post deconsolidation of Corebridge, AIG will achieve a return on common equity at or above 10%. Shane will provide more details in his remarks. As we approach year-end and plan for 2023, our path forward is clear with General Insurance solidifying its position as a global market leader, the deconsolidation and eventual full separation of Corebridge firmly underway and a significantly strengthened balance sheet. With that, Shane, I'll turn the call over to you. Shane Fitzsimons: Thank you, Peter. As Peter noted, I will provide more detail on the third quarter results, specifically EPS, reserve reviews, net investment income, capital management and the path to achieving an above 10% return on common equity. Adjusted after-tax income was $509 million or $0.66 per share compared to $837 million or $0.97 per share in the prior year quarter. This was driven by a $741 million decline in”