AIG Restructures Operations for Improved Efficiency and Market Adaptability

AIG Restructures Business Model to Enhance Operational Efficiency

American International Group, Inc. (AIG) announces a significant reorganization of its operations into three distinct segments: North America Commercial Insurance, International Commercial Insurance, and Global Personal Insurance. This restructuring is aimed at simplifying the company's reporting structure and bolstering operational efficiency across its diverse portfolio. The changes are effective immediately and reflect AIG's commitment to adapt to the evolving insurance landscape while enhancing its service delivery model.

In this reorganization, Jon Hancock is appointed as the Executive Vice President and Chief Executive Officer of both the newly formed International Commercial Insurance and Global Personal Insurance divisions. His expanded role encompasses a range of services, including Global Accident & Health, Personal Home and Auto, Global Warranty & Services, and High-Net-Worth businesses. AIG's Chairman and CEO, Peter Zaffino, expresses confidence in Hancock’s extensive experience in the insurance industry and his global business management skills. This leadership change is expected to facilitate better integration of AIG’s offerings and improve collaboration among teams worldwide, ultimately supporting the company's strategic goals.

Hancock, enthusiastic about his new responsibilities, underscores AIG's significant position within the insurance sector. He emphasizes the importance of building momentum and strengthening partnerships with distribution channels globally. This focus on collaboration is critical as AIG seeks to enhance its market presence and drive innovation in its product offerings. The reorganization aims not only to streamline operations but also to leverage AIG's extensive network to better serve its clients and adapt to changing market demands.

In addition to the structural changes, Don Bailey remains at the helm of the North America Commercial Insurance segment, ensuring continuity in leadership and strategic direction within that critical area of the business. The reorganization reflects AIG’s proactive approach to addressing market challenges and enhancing customer service across its global operations.

As a leading global insurance organization, AIG operates in approximately 190 countries, providing tailored solutions to businesses and individuals alike. The company continues to adapt its strategy to meet the needs of its diverse clientele, ensuring that its offerings are both relevant and accessible across various jurisdictions. For more information, stakeholders can visit AIG's official website at www.aig.com.