Hancock will continue to oversee the International Commercial Insurance division while assuming responsibility for the newly established Global Personal Insurance business. This new segment consolidates AIG’s Global Accident & Health, Personal Home and Auto, Global Warranty & Services, and High-Net-Worth operations. 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 segment. Peter Zaffino, Chairman and CEO of AIG, emphasised Hancock’s qualifications for the expanded role, stating: “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. Our new structure simplifies our reporting segments, while driving operational efficiency and enhanced value for all of our stakeholders.”
Commenting on his new responsibilities, Hancock expressed enthusiasm for the opportunity: “I am thrilled to take on this expanded leadership role at this inspiring time as AIG’s industry leadership positions the company for continued success. I look forward to working closely with our Personal Insurance teams across the globe to build on our momentum, unlock opportunities for our clients, and strengthen relationships with our distribution partners around the world.”
The organizational changes reflect AIG’s commitment to streamlining operations and delivering enhanced value to clients and partners worldwide.