AIG appoints former Aon executive as CEO-elect

Group 1 - American International Group (AIG) has appointed Eric Andersen as president and CEO-elect, succeeding Peter Zaffino, who will transition to executive chair by mid-year 2026 [1] - Andersen's appointment as president and CEO-elect will take effect on 16 February 2026, and he will formally become CEO and join the Board of Directors after 1 June 2026 [1] - Zaffino has led AIG since March 2021, focusing on operational refocusing, divesting non-essential units, and enhancing technology systems, resulting in over $19 billion returned to shareholders through buybacks and dividends in the past three years [2][3] Group 2 - Zaffino expressed pride in AIG's progress during his tenure, highlighting improved profitability, a strengthened balance sheet, and enhanced financial flexibility [3] - Eric Andersen is recognized as an accomplished insurance executive, previously part of Aon's executive committee, and has nearly 30 years of experience in senior roles at Aon [4] - Andersen led global initiatives at Aon from 2020 to 2025 that focused on efficiency, performance improvements, and increasing market capitalization [5]