AIG's General Insurance Chief Jon Hancock to Retire, Transition to Senior Advisor Role — American International Group, Inc. (AIG)

Event summary

Jon Hancock, Executive Vice President and CEO of AIG’s General Insurance business, to retire on December 31, 2026 after over six years in leadership roles at AIG.
Hancock will transition to a Senior Advisor role, reporting to AIG CEO Eric Andersen, focusing on strategic priorities and underwriting excellence.
Hancock joined AIG in 2020 as CEO of International Insurance and took over General Insurance in 2025, playing a key role in the company’s turnaround.
Prior to AIG, Hancock held senior roles at Lloyd’s of London and RSA, bringing a 40-year career in the insurance industry.

The big picture

Jon Hancock’s retirement marks the end of a significant leadership chapter for AIG, particularly in its General Insurance business. His tenure coincided with a critical turnaround phase for the company, emphasizing underwriting performance and global risk management. The transition to a Senior Advisor role suggests AIG aims to retain his expertise while preparing for the next phase of leadership. The move also highlights the broader industry trend of experienced executives transitioning to advisory roles to support long-term strategic goals.

What we're watching

Leadership Continuity: How AIG will manage the transition of Hancock’s responsibilities and whether the company can sustain its underwriting momentum under new leadership.
Strategic Focus: Whether Hancock’s shift to Senior Advisor will allow AIG to maintain its strategic direction, particularly in underwriting excellence and talent development.
Industry Impact: The pace at which AIG can integrate Hancock’s industry experience into its long-term growth initiatives, especially in global markets.