AIG named Douglas M. Steenland as the insurers seventh chairman since 2005, replacing Steve Miller who oversaw the promotion of Peter Hancock to CEO last year.
American International Group Inc., the largest commercial insurer in the U.S. and Canada, named Michael Brady to the new post of chief technology officer as Chief Executive Officer Peter Hancock works to modernize the company.
American International Group Inc.s Steve Miller plans to relinquish his position as chairman of the insurers board, according to a person familiar with the matter.
The combative former chief executive officer of American International Group led the insurer, once the worlds largest, to repay a $182.3 billion taxpayer bailout.
American International Group Inc., the largest commercial insurer in the U.S. and Canada, said profit declined 67 percent on costs to pay down debt and add to reserves.