AIG appoints former Aon executive as CEO-elect

American International Group (AIG) has named Eric Andersen arsenic president and CEO-elect, succeeding Peter Zaffino, who volition modulation to the relation of enforcement chair.

Zaffino volition permission his presumption arsenic CEO by mid-year, with the assignment of Andersen arsenic president and CEO-elect taking effect connected 16 February 2026.

Andersen volition study to Zaffino and formally go CEO and articulation the Board of Directors aft 1 June 2026.

During his tenure since March 2021, Zaffino led respective initiatives including refocusing the company’s operations, selling disconnected non-essential concern units, investing successful interior improvement and updating AIG’s exertion systems.

Under his leadership, AIG besides utilised generative AI tools to heighten information investigation and operational processes, highlighted AIG.

The institution reported returning much than $19bn to shareholders done stock buybacks and dividends implicit the past 3 years.

Zaffino said: “I americium incredibly arrogant of our colleagues and the bonzer advancement we person delivered during my tenure to marque AIG a apical manufacture performer. With important enactment from the AIG Board of Directors, we person returned AIG to vastly improved profitability, importantly strengthened our equilibrium expanse and built tremendous fiscal flexibility.

“We could not person chosen a amended idiosyncratic than Eric Andersen to steward the company’s adjacent chapter. Eric is an incredibly accomplished and wide respected security executive, and we person worked unneurotic intimately during my tenure astatine AIG.”

Andersen is acceptable to articulation AIG from Aon, wherever helium latterly was portion of the enforcement committee and an advisor to the president and CEO.

During astir 30 years astatine Aon, helium worked successful elder positions specified arsenic president, CEO of Aon Benfield and CEO of Aon Risk Solutions Americas.

From 2020 done 2025, Andersen led assorted planetary initiatives astatine Aon that focused connected ratio and show improvements, arsenic good arsenic an summation successful marketplace capitalisation, noted AIG.

Commenting connected his appointment, Andersen stated: “I americium honoured by the spot the committee has placed successful maine and energised by the accidental to service arsenic AIG’s president and CEO-elect. AIG is an iconic institution with a beardown instauration and strategically good positioned for the future.

"I look guardant to partnering with Peter, the committee and AIG’s talented colleagues astir the satellite to physique connected the momentum that has been established and to present for our clients, partners and shareholders.”

Last month, AIG named Adam Clifford arsenic CEO of its International Commercial Insurance division.

"AIG appoints erstwhile Aon enforcement arsenic CEO-elect " was primitively created and published by Life Insurance International, a GlobalData owned brand.