Hancock joined AIG in 2010 and was named chief executive of AIG’s property casualty operation in March 2011.
He has spent his entire career in financial services, including 20 years at J P Morgan, where he established its global derivatives group, ran the global fixed income business and global credit portfolio, and served as the firm’s chief financial officer and chief risk officer.
Robert Miller, chairman of AIG’s board of directors said Hancock was “a strong risk manager” and that Benmosche had “worked tirelessly to transform AIG and position it for this next chapter: fully repaying the $182bn (€134bn, £108bn) of government support AIG received in 2008, plus a profit of $22.7bn, the largest turnaround in the history of corporate America”.
To read about how AIG reduced its presence in Hong Kong in 2012, click here.
