American International Group Inc. (AIG) announced Monday that it is making some major changes to its organizational structure.
The company will no longer have Commercial and Consumer segments, and will transition to: General Insurance, led by Peter Zaffino, as CEO; Life & Retirement, led by Kevin Hogan, CEO; and a stand-alone, technology-enabled platform, led by Seraina Macia, CEO.
General Insurance and Life & Retirement will each have distinct business units that reflect how business is marketed and underwritten. General Insurance will include Commercial, Personal Insurance, and U.S. and international field operations. Life & Retirement will include Group Retirement, Individual Retirement, Life, and Institutional Markets.
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