American International Group (AIG) said it is organizing into three segments and Jon Hancock will lead two of them.
Hancock will continue to lead AIG’s international commercial business and will also take on leadership of the newly formed global personal business, which includes AIG’s global accident & health, personal home and auto, global warranty, and high net worth businesses.
Hancock’s new title will be EVP, chief executive officer of international commercial insurance and global personal insurance. He had been CEO of international insurance following a series of executive appointments in October 2023.
Hancock has been with AIG since the start of 2020, when he joined from Lloyd’s.
Don Bailey will continue in his CEO role of the third segment – North America commercial insurance. He has held this position since October 2023.
“Our new structure simplifies our reporting segments, while driving operational efficiency and enhanced value for all of our stakeholders,” said Peter Zaffino, chairman and CEO of AIG, in a statement.
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