AIG expands Jon Hancock’s responsibilities amid business restructure

AIG has announced an expanded global leadership role for Jon Hancock as the company reorganises its business into three distinct segments: North America Commercial Insurance, International Commercial Insurance, and Global Personal Insurance.

According to the firm, Hancock will continue to lead the International Commercial Insurance business and will assume additional responsibility for the newly formed Global Personal Insurance business.

This new entity brings together the firm’s Global Accident & Health, Personal Home and Auto, Global Warranty & Services, and High-Net-Worth businesses.

Peter Zaffino, Chairman & Chief Executive Officer, AIG, commented, “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.”

Hancock’s new title will reportedly be EVP, Chief Executive Officer, International Commercial Insurance and Global Personal Insurance. Meanwhile, Don Bailey, EVP, Chief Executive Officer, North America, will continue to lead the North America Commercial Insurance business.

Hancock himself commented, “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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