AIG to restructure its business

[BENGALURU] American International Group said on Monday it would reorganize into three new business units and will no longer have Commercial and Consumer businesses.

Instead, AIG will have General Insurance led by Peter Zaffino, as chief executive; Life & Retirement, led by Kevin Hogan; and a stand-alone technology-enabled platform, led by Seraina Macia.

Rob Schimek, CEO of the Commercial unit will leave the company at the end of October as part of the structural changes, AIG said in a statement.

REUTERS