AIG Announces Leadership Transition; Eric Andersen to Succeed Peter Zaffino as CEO

Apr 27, 2026 12:08 UTC

AIG

Short term

American International Group has named Eric Andersen as its next CEO and President, effective June 1. Current CEO Peter Zaffino will transition into the role of Executive Chair.

Eric Andersen named CEO and President
Peter Zaffino moves to Executive Chair
Effective date set for June 1
Shares traded at $74.85 (-0.35%) pre-market

American International Group, Inc. (AIG) announced a strategic shift in its top leadership on Monday, appointing Eric Andersen to lead the global insurance giant as its next Chief Executive Officer and President. The transition is scheduled to take effect on June 1. As part of the leadership reorganization, the current chief executive, Peter Zaffino, will move into the role of Executive Chair of the company, ensuring a period of continuity during the handover. This executive shuffle comes as the firm continues to navigate the global insurance landscape. The appointment of Andersen to the top operational role suggests a planned succession strategy to maintain stability within the organization's management structure. Market reaction to the announcement was muted. In pre-market activity on the New York Stock Exchange, AIG shares were trading at $74.85, reflecting a slight decrease of 0.35%.