AIG CEO Hancock to Depart Under Pressure from Icahn, Other Investors

By , and | March 9, 2017

  • March 9, 2017 at 10:36 am
    Baxtor says:
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    I’ll take the job! All I need is one year of pay, I mean, if I can’t turn it around in a year, then let me go.

  • March 9, 2017 at 10:36 am
    Dave says:
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    AIG’s problems and issues are deep. So deep I don’t know anybody well versed in P&C that can fix them. And certainly a person with no P&C expertise could fix them. Next!

  • March 9, 2017 at 11:53 am
    UnderwriterIL says:
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    You can’t fix VAST past writings of long-tail liability insurance in 6 quarters. There is no quick-fix to the hole AIG has got themselves in over the past two decades.

  • March 9, 2017 at 12:59 pm
    Mr. Integrity says:
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    No surprise here, as it was only a matter of time. He was never qualified or capable to run an insurer, despite decimating the companies asset portfolio, experienced leaders, etc. Bankers are bankers.

    I can only hope his abysmal performance is reflected in any severance comp he is eligible to receive.

    • March 9, 2017 at 3:01 pm
      Agent says:
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      Integrity, I have been watching them for my whole insurance career. They were the big boy bullies and thought they could do whatever they wanted. Remember the bid rigging scandals they were heavily into? Thugs!

      • March 9, 2017 at 3:06 pm
        underbroker says:
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        Agent,

        Get over the “bid rigging” line you have beaten that into the dirt 5 years ago.

        Being big and being able to create products first in the market with that product is not being a bully. Is Marsh a Bully, was J&H, AON, Sedgwick James because they were all big or is because you did not have access to their products because they were not big BOP underwriters and Hartford and Travelers served your needs….

        • March 11, 2017 at 3:48 pm
          PolarBeaRepeal says:
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          @underbroker; Agent wasn’t referring to AIG creating products first. And many in the market agree with him. I’m just sayin’.

          When the right person gets into the big chair, they’ll unwind the problems. It will take an underwriter, CPA, or an actuary to do so, not a marketing person or …. banker?

  • March 9, 2017 at 2:57 pm
    Underwriter says:
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    I wonder what the former senior people who were let go are thinking now.

  • March 9, 2017 at 6:32 pm
    Underwriter says:
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    Underbroker,

    Being big? They are not nearly the company they were and will never be again. You cant shrink yourself to greatness!

    They still are bully’s, they haven’t had a new product since when?, their contracts are at least 10 years old, they are working on systems that are already outdated before they could get them up and running, this will be their 7th CEO in 9 years and if you have really been paying attention you would know that Hancock has posted 4 losses in 6 quarters. But AIG sold off another asset United Guaranty during one of those profitable quarters so technically Hancock had 5 quarterly losses out of 6.
    Clue in like the rest of the Country and get off your AIG horse, its not making you sound smart.

    • March 11, 2017 at 3:49 pm
      PolarBeaRepeal says:
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      Prob has a big position.

  • March 9, 2017 at 9:42 pm
    Julie McIntosh says:
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    Each misfortune that one encounters will carry in it the seed of tomorrow’s good-will.

    • March 15, 2017 at 2:47 pm
      PolarBeaRepeal says:
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      Success depends on previous preparation, and without such preparation, there is sure to be failure – Confucious

      • March 15, 2017 at 2:48 pm
        PolarBeaRepeal says:
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        Fortune cookies are tasty – PolarBeaRepeal

  • March 15, 2017 at 9:43 am
    PolarBeaRepeal says:
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    The Wrath of Icahn.



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