AIG subsidiary files for Chapter 11 bankruptcy protection

By The Associated Press
A subsidiary of insurer American International Group Inc. has filed for Chapter 11 bankruptcy protection. AIG Financial Products Corp. made the filing Wednesday in the U.S. Bankruptcy Court for the District of Delaware and plans to reorganize. AIG said in a regulatory filing that the reorganization won’t have a material impact on its consolidated balance sheets or those of Corebridge Financial Inc. The reorganization will complete AIG’s winding down of AIG Financial Products, which it’s been working on since the 2008 financial crisis.