“As we progress our future state business model, we anticipate achieving approximately $500 million in cost reductions at AIG parent and a cost to achieve of around $400 million with substantially quicker earn-in of savings that we achieved with AIG 200.”

In context

“nate overlap and significantly reduce decentralized infrastructure across the company, which will lead to a leaner business model, particularly in our operations. In future state, we expect a redefined AIG parent expense structure to be approximately 1% to 1.5% of premiums, which today is roughly $250 million to $350 million. AIG parent will have 5 primary roles and objectives: public company matters, including finance, legal, compliance and regulatory oversight as well as corporate governance; communications with key stakeholders, including the investment community, rating agencies, regulators, policymakers and AIG colleagues; risk management, culture, performance and human capital management; and strategy, including business development, M&A and design and execution of key initiatives. As we progress our future state business model, we anticipate achieving approximately $500 million in cost reductions at AIG parent and a cost to achieve of around $400 million with substantially quicker earn-in of savings that we achieved with AIG 200. As expense savings begin to earn through, the reductions will largely be seen in other operations, which is where general operating expenses are currently accounted for. With respect to Corebridge, I took you through our current thinking on separation and timing of the secondary offerings. Lastly, on capital management. We continue to maintain appropriate levels of capital in our subsidiaries to support profitable growth. We remain on track to reduce AIG common stock outstanding to be between 600 million and 650 million shares and achieve a debt-to-capital leverage at the lower end of our 20% to 25% range post deconsolidation of Corebridge. As I noted earlier, we increased our common stock dividend by 12.5%, starting in the second quarter of this year. And in addition to our stock rep”