|[June 10, 2014]
A.M. Best Comments on Ratings of American International Group, Inc. Following Appointment of Peter D. Hancock as President and CEO
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
The announcement of AIG's next chief executive had been anticipated as
Mr. Benmosche hadpreviously 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.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
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