Who will replace Benmosche?

As Robert Benmosche looks to retire, AIG considers who will be next in its current line of troubled CEOs.

Who will replace Benmosche?

Insurance News


The forthcoming replacement of American International Group (AIG) Chief Executive Robert Benmosche, who hopes to retire in early 2015, has generated no small comment. Now, however, it appears that the insurer’s board of directors has homed in on two current AIG executives as the most likely to succeed the current CEO.

Peter Hancock and Jay Wintrob are now considered the top two candidates most likely to replace Benmosche, according to a report from the Wall Street Journal.  Hancock, who runs AIG’s global property/casualty business, was considered the most likely appointment before Wintrob’s performance as executive vice president of life and retirement began to stand out.

The board also said it was considering external appointments, but that isn’t a likely option unless Hancock and Wintrob both fall out of favor, said persons familiar with the matter.

A replacement could be announced as soon as September, the board disclosed.

Whoever is appointed will follow the somewhat controversial reins of Benmosche and Maurice “Hank” Greenberg, who was forced to resign from his post following criticism from New York Attorney General Eliot Spitzer.

Greenberg is currently involved in a civil lawsuit with Spitzer, alleging Spitzer made repeated defamatory statements against him.

Benmosche, who made headlines in his attempts to stabilize AIG following its bailout by the US government, is stepping down in order to spend more time with his family in Croatia. He is also currently being treated for cancer.

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