American International Group (AIG), a leading global insurance organisation, has announced that Jon Hancock will take on additional responsibilities as the company restructures its business into three distinct segments.
Effective immediately, Hancock will assume the role of executive vice president (EVP) and chief executive officer (CEO) of international commercial insurance and global personal insurance.
AIG operates as a major player in the global insurance market, offering a wide range of insurance solutions, including property, casualty, life, and retirement products.
The firm serves customers in over 80 countries and jurisdictions, catering to both commercial and personal insurance needs.
Hancock, who has been leading AIG’s international commercial insurance business, will now also oversee the newly formed global personal insurance division.
This segment consolidates AIG’s global accident & health (A&H), personal home and auto, global warranty & services, and high-net-worth insurance businesses.
In his expanded role, he will focus on enhancing efficiency and strengthening client relationships. Meanwhile, Don Bailey will continue as EVP and CEO of North America commercial insurance, leading that segment independently.
Prior to joining AIG, Hancock held leadership positions in the insurance industry, bringing extensive experience in managing international businesses. His expertise has been instrumental in driving growth and operational improvements within AIG’s commercial insurance unit.
AIG chairman and CEO Peter Zaffino commented on the appointment, stating, “Jon’s deep insurance industry expertise and significant experience managing global businesses ideally qualify him for this expanded role leading our international commercial insurance and global personal insurance businesses. Our new structure simplifies our reporting segments, while driving operational efficiency and enhanced value for all of our stakeholders.”
Expressing enthusiasm for his new role, Hancock said, “I am thrilled to take on this expanded leadership role at this inspiring time as AIG’s industry leadership positions the company for continued success. I look forward to working closely with our personal insurance teams across the globe to build on our momentum and unlock opportunities for our clients and strengthen relationships with our distribution partners around the world.”
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