CEO and President Robert ‘Bob’ Benmosche died today at NYU Langone Medical Center.
“We announce this news with profound sadness, and our thoughts and prayers are with Bob's family at this difficult time,” said Chairman Robert S. Miller in a statement. “Bob was one of the most inspirational and successful leaders in corporate America by any measure.”
Benmosche was 70 and had been undergoing treatment for lung cancer since 2010.
Benmosche was the commercial insurer's president and CEO from August 2009 until last September, leading the company through the difficult years following the Wall Street crash and recession.
After bad bets on derivatives nearly sank the company during the financial crisis, Benmosche is credited with helping turn the company around and steer it to profitability.
During his tenure, AIG repaid the $182 billion government bailout it received during the financial crisis to avoid bankruptcy.
Before AIG, Benmosche was chairman, president and CEO of MetLife
. He also served two terms as a board member at Credit Suisse.
The funeral service will be held in at New York's Riverside Memorial Chapel Sunday.