Boston, MA 09/22/2014 (wallstreetpr) – According to reports, American International Group Inc (NYSE:AIG) has appointed Kevin Hogan as the new leader of its main life insurance business. He will be in-charge of financial offerings for individuals worldwide. The decision was taken soon after the new CEO Peter Hancock joined the company.
Hogan replaces Jay Wintrob to take on a challenging role:
Right after the joining, Hogan has decided to fuel in new energy in the management. He took on his new responsibilities from Jay Wintrob, Life-Unit Chief Executive Officer of the company. Wintrob worked for American International Group Inc (NYSE:AIG) for close to 15 years and took charge of various businesses before finally being put-forth to pass on his responsibilities. It will be the first time in company’s history when all the business segments including car, travel, home and life insurance will be headed by one person.
There are different rumors about this step of the company in the market. According to Josh Stirlin, Analyst at Sanford C. Bernstein & Co., it is a logical step taken by the company for consolidating the senior leadership team. Hancock replaced Robert Benmosche at the starting of this month as the CEO of American International Group Inc (NYSE:AIG), who took over the charge five years back. He has gone through various challenging situations and has bailed out company quite a few times through his extensive managerial skills and exemplary leadership. Along with the appointment of Hogan, John Doyle, CEO of operations commercial insurance was also given extra responsibilities. Recently Hancock announced that Donna DeMaio will directly report to Hogan from now onwards. DeMaio runs the mortgage insurer of the company. Apart from DeMaio, Jonathan Novak, who takes care of institutional-life business will also report to Hogan.
Few other changes in senior leadership include change of authority for Stephen Maginn. From now onwards, he will report to Rob Schimek, head of operations at Americas.
