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AIG Earnings Show Improved Property-Casualty Business

American International Group posted second-quarter earnings that showed further improvement in its big property-casualty insurance operations, although stock-market volatility has delayed an initial public offering of its life-and-retirement business that had been expected by midyear.

The global insurance giant had anticipated a partial sale of shares in the unit in the second quarter, subject to regulatory approvals and market conditions. In March, AIG began rebranding the business, one of the nation’s largest providers of retirement and insurance products to institutional buyers and individuals, as Corebridge Financial.