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AIG Announces Expanded Global Leadership Role for Jon Hancock

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AIG (NYSE: AIG) has announced an immediate organizational restructuring into three distinct segments: North America Commercial Insurance, International Commercial Insurance, and Global Personal Insurance. Jon Hancock will expand his leadership role, taking on additional responsibilities as EVP, Chief Executive Officer of International Commercial Insurance and Global Personal Insurance.

The Global Personal Insurance segment consolidates AIG's Global Accident & Health, Personal Home and Auto, Global Warranty & Services, and High-Net-Worth businesses. Don Bailey will continue as EVP, Chief Executive Officer, leading the North America Commercial Insurance business.

According to CEO Peter Zaffino, this new structure aims to simplify reporting segments while enhancing operational efficiency and stakeholder value.

AIG (NYSE: AIG) ha annunciato una ristrutturazione organizzativa immediata in tre segmenti distinti: Assicurazione Commerciale Nord America, Assicurazione Commerciale Internazionale e Assicurazione Personale Globale. Jon Hancock amplierà il suo ruolo di leadership, assumendo ulteriori responsabilità come EVP, Amministratore Delegato dell'Assicurazione Commerciale Internazionale e dell'Assicurazione Personale Globale.

Il segmento dell'Assicurazione Personale Globale riunisce le attività di AIG in materia di Accidentalità e Salute Globale, Home e Auto Personale, Garanzia e Servizi Globali e attività per Clientes con Alte Patrimoniale. Don Bailey continuerà come EVP, Amministratore Delegato, dirigendo l'attività dell'Assicurazione Commerciale Nord America.

Secondo il CEO Peter Zaffino, questa nuova struttura mira a semplificare i segmenti di reporting migliorando al contempo l'efficienza operativa e il valore per gli stakeholders.

AIG (NYSE: AIG) ha anunciado una reestructuración organizativa inmediata en tres segmentos distintos: Seguro Comercial de América del Norte, Seguro Comercial Internacional y Seguro Personal Global. Jon Hancock ampliará su rol de liderazgo, asumiendo responsabilidades adicionales como EVP, Director Ejecutivo de Seguro Comercial Internacional y Seguro Personal Global.

El segmento de Seguro Personal Global consolida las actividades de AIG en Accidentes y Salud Global, Hogar y Auto Personal, Garantía y Servicios Globales, y negocios de Alto Patrimonio. Don Bailey continuará como EVP, Director Ejecutivo, liderando el negocio de Seguro Comercial de América del Norte.

Según el CEO Peter Zaffino, esta nueva estructura tiene como objetivo simplificar los segmentos de informes mientras se mejora la eficiencia operativa y el valor para los interesados.

AIG (NYSE: AIG)는 즉각적인 조직 재구성을 발표했습니다. 재구성은 북미 상업 보험, 국제 상업 보험, 글로벌 개인 보험의 세 가지 구분된 섹션으로 나뉘어집니다. Jon Hancock는 EVP, 국제 상업 보험 및 글로벌 개인 보험의 CEO로서 추가적인 책임을 지게 되며, 그의 리더십 역할을 확장할 것입니다.

글로벌 개인 보험 섹션은 AIG의 글로벌 사고 및 건강, 개인 주택 및 자동차, 글로벌 보증 및 서비스, 그리고 고액 자산 관리 비즈니스를 통합합니다. Don Bailey는 계속해서 EVP, CEO로서 북미 상업 보험 사업을 이끌 것입니다.

CEO Peter Zaffino에 따르면, 이 새로운 구조는 보고 구성을 간소화하면서 운영 효율성과 이해관계자 가치를 높이는 것을 목표로 합니다.

AIG (NYSE: AIG) a annoncé une restructuration organisationnelle immédiate en trois segments distincts : Assurance Commerciale Amérique du Nord, Assurance Commerciale Internationale et Assurance Personnelle Globale. Jon Hancock élargira son rôle de leadership en prenant des responsabilités supplémentaires en tant qu’EVP, Directeur Général de l’Assurance Commerciale Internationale et de l’Assurance Personnelle Globale.

Le segment de l'Assurance Personnelle Globale regroupe les activités d'AIG dans les domaines du Accidents & Santé Mondiaux, de l'Assurance Habitation et Automobile Personnelle, des Garanties et Services Mondiaux, ainsi que des affaires pour les très riches. Don Bailey continuera en tant qu’EVP, Directeur Général, en dirigeant le secteur de l'Assurance Commerciale Amérique du Nord.

Selon le PDG Peter Zaffino, cette nouvelle structure vise à simplifier les segments de reporting tout en améliorant l'efficacité opérationnelle et la valeur pour les parties prenantes.

AIG (NYSE: AIG) hat eine sofortige organisatorische Umstrukturierung in drei verschiedene Segmente angekündigt: Nordamerika Gewerbeversicherung, Internationale Gewerbeversicherung und Globale Personenversicherung. Jon Hancock wird seine Führungsrolle erweitern und zusätzliche Verantwortung als EVP, Geschäftsführer der Internationalen Gewerbeversicherung und Globalen Personenversicherung übernehmen.

Das Segment der Globalen Personenversicherung fasst AIGs Global Accident & Health, Privatheim- und Autoversicherung, Global Warranty & Services sowie Hochvermögen-Geschäfte zusammen. Don Bailey wird weiterhin als EVP, Geschäftsführer, das Geschäft Nordamerika Gewerbeversicherung leiten.

Laut CEO Peter Zaffino zielt diese neue Struktur darauf ab, die Berichtssegmente zu vereinfachen und gleichzeitig die operative Effizienz sowie den Stakeholder-Wert zu erhöhen.

Positive
  • Organizational restructuring aimed at improving operational efficiency
  • Consolidation of personal insurance businesses under unified leadership
  • Simplified reporting structure through three distinct business segments
Negative
  • None.

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:

(Photo: Business Wire)

(Photo: Business Wire)

  • 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.

Quentin McMillan (Investors): quentin.mcmillan@aig.com

Claire Talcott (Media): claire.talcott@aig.com

Source: American International Group, Inc.

FAQ

What are AIG's three new business segments announced in the restructuring?

AIG's three new business segments are: North America Commercial Insurance, International Commercial Insurance, and Global Personal Insurance.

What is Jon Hancock's new role at AIG?

Jon Hancock's new role is EVP, Chief Executive Officer of International Commercial Insurance and Global Personal Insurance, overseeing both segments.

What businesses are included in AIG's new Global Personal Insurance segment?

The Global Personal Insurance segment includes Global Accident & Health, Personal Home and Auto, Global Warranty & Services, and High-Net-Worth businesses.

How will AIG's new organizational structure benefit stakeholders?

According to AIG, the new structure will simplify reporting segments while driving operational efficiency and enhanced value for all stakeholders.

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