Shares of American International Group Inc (NYSE:AIG) ended Thursday session in red amid volatile trading. The shares closed down -0.85 points or -1.41% at $59.59 with 6.13 million shares getting traded. Post opening the session at $59.80, the shares hit an intraday low of $58.93 and an intraday high of $59.93 and the price vacillated in this range throughout the day. The company has a market cap of $64.42 billion and the numbers of outstanding shares have been calculated to be 1.08 billion shares.
American International Group Inc (AIG) publicized that Peter Y. Solmssen will join AIG as Executive Vice President and General Counsel on October 18. Mr. Solmssen will oversee the Global Legal, Compliance, Regulatory and Government Affairs functions, and will report to Peter D. Hancock, AIG President and Chief Executive Officer. He will also serve as a member of AIG’s Executive Leadership Team, and participate in all strategic and policy decisions affecting the company’s operations.
Mr. Solmssen (61) previously served as General Counsel and Head of Corporate, Legal and Compliance for Siemens AG, and served as a member of its Managing Board with responsibility for Siemens’ businesses in the Americas. He succeeds Thomas Russo (73), who is retiring. Mr. Russo has served as Executive Vice President and General Counsel, Legal, Compliance and Regulatory since 2010. He was formerly Vice Chairman and Chief Legal Officer of Lehman Brothers. Prior to this, he was a senior partner of Cadwalader, Wickersham & Taft, following his role as the first director of the division of Trading and Markets of the Commodity Futures Trading Commission.
Shares of Metlife Inc (NYSE:MET) ended Thursday session in red amid volatile trading. The shares closed down -0.84 points or -1.77% at $46.68 with 6.33 million shares getting traded. Post opening the session at $46.90, the shares hit an intraday low of $46.03 and an intraday high of $46.90 and the price vacillated in this range throughout the day. The company has a market cap of $51.52 billion and the numbers of outstanding shares have been calculated to be 1.10 billion shares.
Metlife Inc (MET) stated that Brighthouse Financial, Inc. filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (the “SEC”). The filing of the Form 10 is an important step in MetLife’s plan to separate into two independent publicly traded companies. The filing provides information on the strategy and historical financial data of Brighthouse Financial and will be updated with additional information in subsequent amendments as the SEC reviews it.
The Form 10 reflects MetLife’s current plan to initiate the separation of Brighthouse Financial in the form of a spin-off. While MetLife and Brighthouse Financial are currently preparing for a spin-off transaction, the ultimate form and timing of a separation will be influenced by a number of factors, including regulatory considerations and economic conditions. MetLife continues to evaluate and pursue structural alternatives for the planned separation, including different forms of spin-off, a public offering of shares in an independent, publicly traded company, or a sale. The first step in the separation transaction is expected to take place in the first half of 2017. In conjunction with the Form 10, MetLife filed a Form 8-K with the SEC that includes additional financial information concerning MetLife related to the planned separation.