Peter Zaffino News

AIG Reports Strong First Quarter

American International Group (AIG) reported strong underwriting and investment results in in its General Insurance and its Life and Retirement divisions, despite catastrophe losses from winter storms and Covid-19 mortality claims. For the first quarter, net income was $3.9 billion …

Update: AIG Weighs IPO or 19.9% Stake Sale of Life and Retirement Unit

Insurer American International Group Inc said on Friday it is considering an initial public offering or a private sale of nearly 20% of its life and retirement business to separate the unit from the rest of the company over the …

AIG Names Zaffino to Succeed Duperreault as CEO; Will Spin Off Life Insurance Business

American International Group has disclosed significant leadership changes as well as plans to separate its Life & Retirement business into an independent company. Peter Zaffino, currently AIG’s president and chief operating officer, will become its next CEO as of March …

AIG’s Zaffino Sees COVID-19 Creating Beneficial ‘Flight to Quality’

AIG President and Chief Operating Officer Peter Zaffino said that the insurer has seen accelerated rate improvements and other gains as clients react to the ongoing COVID-19 pandemic. “We believe that COVID has resulted in a flight to quality and …

AIG Will Move to New Manhattan Headquarters in 2021

American International Group is moving its global headquarters in 2021 as part of a continued push to modernize its operations, the company disclosed on July 21. The property/casualty insurance giant will still maintain a Manhattan corporate address, which it has …

Zaffino, AIG’s No. 2, Fights to Turn Around the House That Hank Greenberg Built

American International Group Inc.’s Peter Zaffino drew a clear line ahead of his jump to the insurer almost three years ago. “I didn’t want any advice,” Zaffino, AIG’s president, said in a rare sit-down interview. “I needed to see things …

AIG Taps Hancock from Lloyd’s as CEO of International General Insurance

American International Group Inc. announced that Jon Hancock has been appointed chief executive officer, International General Insurance. In this role, Hancock will lead the International operations of AIG’s General Insurance business. He will report to Peter Zaffino, president & global …

AIG Maps Out Major Investment in Technology, Core Processes

American International Group said it will invest $1.3 billion over the next three years in its massive AIG 200 initiative, which is designed to revamp and improve core processes, technology infrastructure and services. The company has broken down the effort …

‘Numbers Guy’ Zaffino Expected to Succeed Duperreault as AIG CEO…Eventually

Peter Zaffino sat at 2 World Trade Center poring over financial reports on the morning of Sept. 11, 2001, when the first plane struck a neighboring building. Zaffino, known by colleagues for his laser-like focus, remained at his desk as …

Zaffino Assumes Added Role of President at AIG

American International Group (AIG) has named Peter S. Zaffino as president, effective Jan. 1, 2020. Zaffino will continue to serve as global chief operating officer of AIG and chief executive officer of General Insurance. Brian Duperreault, AIG chief executive officer, …