Jay S. Wintrob, president and CEO of AIG Life & Retirement, is leaving the company after more than 25 years. He will be replaced by Kevin Hogan, head of the consumer business, including accident and health; personal lines; life insurance; retirement income solutions, including variable, fixed, and indexed annuities; group benefits; group retirement; and retail mutual funds.
AIG also announced that Michael R. Cowan, EVP and chief administrative officer, will retire.
“Our leadership team through both its composition and its operating practices will be focused on making sure that we develop and execute clear strategies to continue to earn high value business, lower our expenses, devote capital to the right opportunities, and advance trust in AIG with all of our stakeholders,” Mr. Hancock concluded.
The newly announced operating committee includes:
- Murli Buluswar, chief science officer
- William Dooley, investments
- John Doyle, commercial, including global capabilities such as property; casualty; financial lines; specialty lines; institutional markets; and mortgage guaranty
- Philip Fasano, chief information officer
- Jose Hernandez, Asia Pacific, representing 16 countries and jurisdictions
- David Herzog, chief financial officer
- Kevin Hogan, consumer, including accident and health; personal lines; life insurance; retirement income solutions, including variable, fixed, and indexed annuities; group benefits; group retirement; and retail mutual funds
- Jeffrey Hurd, human resources, communications and administration
- Seraina Maag, Europe, Middle East, and Africa, representing 47 countries
- Eric Martinez, claims and operations
- Thomas Russo, general counsel
- Sid Sankaran, chief risk officer
- Robert Schimek, Americas, representing 29 countries and jurisdictions
“I would like to extend my sincere gratitude and appreciation to Jay,” said Peter D. Hancock, AIG’s president and CEO. “He has played an instrumental role in AIG’s success. Under his leadership, AIG’s life and retirement businesses have consistently been top performers, Jay leaves behind a strong leadership team and businesses that are well-positioned for the future. Along with everyone else at AIG, I am incredibly thankful for his contributions and wish him continued success.
Wintrob said: “It has been a privilege to have helped shape and lead such an incredible company. I am immensely proud of all that we have done together and excited by Peter’s vision for the company. There is tremendous opportunity ahead for AIG. I have great confidence that the company’s leadership team has the experience and commitment to continue to meet the goal of making AIG the most valued insurance company in the world.”
Cowan is retiring from the company after nearly five years of service. “I also would like to thank Mike for his dedication and professionalism as AIG’s CAO since he joined the firm in 2010,” Hancock said. “He has been an asset to the company, and we are grateful for all that he accomplished while at AIG. We wish him well in his retirement.”
Cowan said, “It has been a pleasure to work at AIG over the past five years, and I look forward to seeing what the company can achieve in the future. I wish all of my colleagues continued success.”
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