American International Group has announced that Jon Hancock (pictured above) will take on additional responsibility as the company reorganises its business into three segments, namely, North America Commercial Insurance, International Commercial Insurance and Global Personal Insurance.
Hancock will continue to lead the International Commercial Insurance business and will also assume oversight of the newly created Global Personal Insurance business. This unit combines the company’s Global Accident & Health (A&H), Personal Home and Auto, Global Warranty & services, and High-Net-Worth businesses.
His new title will be EVP, chief executive officer, International Commercial Insurance and Global Personal Insurance.
Don Bailey, EVP, chief executive officer, North America, will maintain leadership of the North America Commercial Insurance business.
“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,” said Peter Zaffino, chairman and chief executive officer of AIG. “Our new structure simplifies our reporting segments, while driving operational efficiency and enhanced value for all of our stakeholders.”
Meanwhile, Hancock said he is excited to take on the additional roles as the company positions itself 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,” he added.