OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best has commented that the ratings of American International Group, Inc. (AIG) (New York, NY) [NYSE:AIG] and its subsidiaries will remain unchanged following the recent appointment of Peter D. Hancock as President and Chief Executive Officer, effective Sept. 1, 2014. Mr. Hancock will also join AIG’s Board of Directors. Mr. Hancock currently serves as Executive Vice President, AIG, and Chief Executive officer of AIG Property Casualty, and will succeed Robert H. Benmosche. Mr. Benmosche will assume an advisory role at AIG and will continue to be involved in AIG’s internal leadership development programs.
The announcement of AIG’s next chief executive had been anticipated as Mr. Benmosche had previously announced his intention to step down from his leadership role. With the selection of an internal candidate, and given the organization’s strong senior management team, an orderly transition to Mr. Hancock’s leadership is expected.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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- Investment & Company Information
- Robert H. Benmosche
- Chief Executive Officer