Peter D. Hancock, AIG's president and chiefexecutive officer, has announced he is resigning from the titanP&C insurer.

Hancock, 57, will continue to serve as CEO until a successor hasbeen named. AIG's board will conduct a comprehensive search for asuccessor.

“I believe this is the right decision to make for the companyand all its stakeholders,” Hancock said in a statement. “Withoutwholehearted shareholder support for my continued leadership, aprotracted period of uncertainty could undermine the progress wehave made and damage the interests of our policyholders, employees,regulators, debtholders, and shareholders.”

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Shawn Moynihan

Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].