AIG to restructure its business

Send a link to a friend  Share

[September 25, 2017]  (Reuters) - American International Group Inc said on Monday it would reorganize into three new business units and will no longer have Commercial and Consumer businesses.

 American International Group Inc. (AIG) headquarters seen on the day of the company's 2017 annual shareholder meeting at 175 Water Street, New York, U.S., June 28, 2017. REUTERS/Suzanne Barlyn

Instead, AIG will have General Insurance led by Peter Zaffino, as chief executive; Life & Retirement, led by Kevin Hogan; and a stand-alone technology-enabled platform, led by Seraina Macia.

Rob Schimek, CEO of the Commercial unit will leave the company at the end of October as part of the structural changes, AIG said in a statement.

(Reporting by Sweta Singh in Bengaluru; Editing by Bernard Orr)

[© 2017 Thomson Reuters. All rights reserved.]

Copyright 2017 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

Back to top