“We advanced each component during the first quarter and expect this to continue throughout 2023.”

In context

“ded us with financial flexibility to pay down a near-term debt maturity and complete additional share repurchases at what we viewed as attractive share prices. Turning to return on common equity. We remain highly committed and laser-focused on delivering a 10%-plus ROCE. Through the first quarter, we continued to make meaningful progress on the 4 components of our path to deliver on this commitment. As a reminder, these components include sustained and improved underwriting profitability; executing on a simpler, leaner business model across AIG; operational separation and deconsolidation of Corebridge; and continued balanced capital management. Given the number of strategic initiatives we are executing at once, we are taking a long-term view while measuring progress in 90-day increments. We advanced each component during the first quarter and expect this to continue throughout 2023. As I discussed earlier, our first quarter financial results were excellent, with continued top line growth and improvement in underwriting profitability in General Insurance. Over the last few months, we accelerated our work to establish AIG's future state business model. Sequencing has been very important on our journey and the work that's been accomplished over the last few years on the General Insurance turnaround, AIG 200, the separation and IPO of Corebridge and restructuring of our investment management group. This has positioned us to move forward as a more focused and simplified AIG. Evolving our future state business model will result in us moving away from the conglomerate structure AIG operated in for decades. We will eliminate overlap and significantly reduce decentralized i”