AIG Unveils Major Restructuring into Three Core Business Segments

AIG Announces Expanded Global Leadership Role for Jon Hancock

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01/28/2025 - 06:00 AM

NEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (NYSE: AIG) today announced that effective immediately Jon Hancock will take on additional responsibilities as it organizes its business into three distinct segments:

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North America Commercial Insurance
International Commercial Insurance
Global Personal Insurance

Mr. Hancock will continue to lead the International Commercial Insurance business and will assume additional responsibility for the newly formed Global Personal Insurance business, which brings together the company’s Global Accident & Health (A&H), Personal Home and Auto, Global Warranty & Services, and High-Net-Worth businesses. His new title will be EVP, Chief Executive Officer, International Commercial Insurance and Global Personal Insurance. Don Bailey, EVP, Chief Executive Officer, North America, will continue to lead the North America Commercial Insurance business.

“Jon’s deep insurance industry expertise and significant experience managing global businesses ideally qualify him for this expanded role leading our International Commercial Insurance and Global Personal Insurance businesses. Our new structure simplifies our reporting segments, while driving operational efficiency and enhanced value for all of our stakeholders,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG.

Mr. Hancock added, “I am thrilled to take on this expanded leadership role at this inspiring time as AIG’s industry leadership positions the company for continued success. I look forward to working closely with our Personal Insurance teams across the globe to build on our momentum and unlock opportunities for our clients and strengthen relationships with our distribution partners around the world.”

About AIG

American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in approximately 190 countries and jurisdictions protect their assets and manage risks through AIG operations and network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.