AIG names Andersen CEO as Zaffino moves to exec chair

AIG has confirmed Eric Andersen will become CEO from 1 June 2026, with Peter Zaffino transitioning to executive chair of the board as part of a planned leadership succession.

Andersen will also join the board of directors, marking the conclusion of a transition process first outlined by the group.

The move follows Andersen’s appointment earlier this year as president and CEO-elect, during which he has engaged with clients and stakeholders across the business.

Zaffino, who has led AIG through a period of significant transformation, will remain closely involved in shaping strategy in his new role.

Andersen said he was honoured to take on the position.

“I am honored to serve as AIG’s next Chief Executive Officer and want to thank Peter and the AIG Board of Directors for the opportunity to lead this iconic company,” he said.

“Since joining AIG in February as President and CEO-Elect, I have had the opportunity to engage with our valued clients and stakeholders around the world,” he continued.

“These conversations have further reinforced my excitement in working alongside our talented colleagues to build on AIG’s strong momentum and deliver on the strategic priorities the Company announced at our 2025 Investor Day,” Andersen added.

Zaffino (pictured) reflected on his tenure leading the insurer.

“Serving as Chairman and CEO of AIG has been an immense privilege, and I am very proud of the many milestones we achieved as a company during that period,” he said.

“I am incredibly grateful for the dedication and teamwork of our world-class colleagues, whose deep technical expertise, ingenuity and commitment to excellence have positioned AIG as an industry leader,” Zaffino continued.

“In my new role as Executive Chair, I look forward to continuing to work with the AIG Board of Directors and Eric to advance AIG’s strategy in the future,” he added.

John Rice, lead independent director at AIG, said the transition positions the company for its next phase.

“During Peter’s tenure, AIG completed an unprecedented transformation and is now recognized once again as a leading global company with tremendous momentum and future opportunities,” Rice said.

“The Board and I look forward to continuing to work with Peter in his role as Executive Chair and partnering with Eric in his new role as CEO as he leads AIG into a new era of growth and innovation,” he added.