New AIG CEO Has Reputation Challenges to Overcome

 AIG has refocused on its main global property-casualty and U.S. life insurance units.

Still, the P&C operation has posted an underwriting profit in just two quarters since Hancock began running it in 2011, with most of the earnings coming from investments. Natural disasters such as superstorm Sandy elevated claims costs, and Hancock increased spending on technology and science in a bet that revamping the unit will pay off in the future.

“The mission is to take what is still, by many measures, the largest insurance company in the world and make it the most valued,” Hancock said in an interview.

Read more: Bloomberg

SHARE
Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.

PARTNER CENTER