“We exited 2024 achieving $450 million in run rate savings as part of the program and we expect the remaining benefits to be realized in the first half of 2025.”

In context

“rebridge journey included establishing a very important partnership with Blackstone through an initial 9.9% sale in 2021, executing the largest US IPO in 2022, setting up a strategic asset management partnership with BlackRock, divesting non-core foreign businesses, completing five successful secondary offerings, two of which were in 2024 and culminating in the fourth quarter with AIG sale of a 22% stake in Corebridge for $3.8 billion to Nippon Life, securing another strategic partner for the company. With the accounting deconsolidation of Corebridge, AIG is now a less complex and more streamlined global business. AIG Next was another operational accomplishment in the year, which further supported our journey to make the company leaner, weave the organization together and reduce expenses. We exited 2024 achieving $450 million in run rate savings as part of the program and we expect the remaining benefits to be realized in the first half of 2025. We also continue to successfully execute on our capital management strategy in a very disciplined manner with nearly $10 billion of actions in 2024. AIG reduced shares outstanding by 12% and increased the quarterly dividend per share by 11%, resulting in the return of $8.1 billion of capital to shareholders. We received over $4 billion in dividends from our subsidiaries due to the improved profitability of our operations. We further reduced our debt to total capital ratio to 17% and we ended the year with $7.7 billion of parent liquidity. Our capital management actions to-date have provided us with tremendous financial flexibility. Another strategic accomplishment in 2024 was the delivery of AIG's first generative artificial intelligence large language model powered solution to support bu”