ADDED
As of February 6, 2026, there were 481,685,891 shares outstanding of the registrant s common stock.
Certain Relationships and Related Transactions, and Director Independence 255 ITEM 14 .
federal income or other tax laws or the interpretation of tax laws; differences between actual experience and the estimates used in the preparation of financial statements and modeled results used in various areas of our business; our inability to attract and retain key employees and highly skilled people needed to support our business; our relationships with American International Group, Inc.
( AIG ), Nippon Life Insurance Company, a mutual company organized under the laws of Japan ( Nippon ) and Blackstone and conflicts of interests arising due to such relationships; the indemnification obligations we have to AIG; potentially higher U.S.
income taxes of the entire AIG Consolidated Tax Group for all taxable years or portions thereof in which we (or our subsidiaries) were members of such group; and the risk that anti-takeover provisions could discourage, delay, or prevent our change in control, even if the change in control would be beneficial to our shareholders.
For the year ended December 31, 2025, our businesses generated spread income of $3.9 billion, fee income of $1.2 billion and underwriting margin of $1.4 billion, resulting in a balanced mix of 60%, 18% and 22%, respectively, among these income sources.
We are well-diversified across our operating businesses with our Individual Retirement, Group Retirement, Life Insurance and Institutional Markets businesses representing 52%, 20%, 12% and 16% of associated Adjusted Pre-Tax Operating Income ( APTOI ), respectively, for the year ended December 31, 2025.
We rely on third-party asset managers as well as our own internal capabilities to generate a wide array of asset classes to best position our investment portfolio.
Additionally, BlackRock s scale and fee structure make BlackRock an excellent outsourcing partner for certain asset classes and allows us to further optimize our investment management operating model while improving overall performance.
For the year ended December 31, 2025, we recorded $20.6 billion in total individual annuity premiums and deposits.
REMOVED
As of February 11, 2025, there were 555,995,957 shares outstanding of the registrant s common stock.
Certain Relationships and Related Transactions, and Director Independence 261 ITEM 14 .
income taxes of the entire AIG Consolidated Tax Group for all taxable years or portions thereof in which we (or our subsidiaries) were members of such group; the risk that anti-takeover provisions could discourage, delay, or prevent our change in control, even if the change in control would be beneficial to our shareholders; and challenges related to compliance with applicable laws incident to being a public company, which is expensive and time-consuming.
and its subsidiaries ( Blackstone ), which we believe will allow us to further grow both our retail and institutional product lines, and enhance risk-adjusted returns; our high-quality liability profile, supported by our strong balance sheet and disciplined approach to risk management, which has limited our exposure to product features and portfolios with less attractive risk-adjusted returns; our ability to deliver attractive cash flows and financial returns; and our strong and experienced senior management team.
For the year ended December 31, 2024, our businesses generated spread income of $4.0 billion, fee income of $2.1 billion and underwriting margin of $1.4 billion, resulting in a balanced mix of 53%, 28% and 19%, respectively, among these income sources.
We are well-diversified across our operating businesses with our Individual Retirement, Group Retirement, Life Insurance and Institutional Markets businesses representing 59%, 18%, 11% and 12% of associated Adjusted Pre-Tax Operating Income ( APTOI ), respectively, for the year ended December 31, 2024.
Additionally, we believe BlackRock's scale and fee structure make BlackRock an excellent outsourcing partner for certain asset classes and will allow us to further optimize our investment management operating model while improving overall performance.
For the year ended December 31, 2024, we recorded $22.2 billion in total individual annuity sales.
In October 2024, we launched Corebridge MarketLock Annuity, a registered index linked annuity ( RILA ) contract.
Similar to our fixed annuities, our fixed index and registered index linked annuities generate spread-based income on the difference between the investment income earned on the general account assets backing the policy and the interest credits our clients earn.