The 67-year-old Benmosche joined AIG in August 2009, and is largely credited for saving the company from financial ruin. AIG was at the center of the 2008 government-sponsored Troubled Asset Relief Program (TARP) rescue funds bailout. Diagnosed with cancer in late 2010, Benmosche said in an interview with the Journal that, health permitting, he plans to run New York-based AIG beyond next year. He had previously stated his desire to return to retirement sometime in 2012.
"I've talked to the board and said that if I stay healthy—and I'm still hopeful—I would like to stay on for another year," he told the Journal. "I want to stay active and energized, and having too much time on my hands is not healthy, I think."
Benmosche does not need AIG board approval to remain in the job, the Wall Street Journal said, citing people familiar with the matter. The CEO had previously threatened to quit two years ago after a run-in with government officials, the Journal said.
AIG spokesman Mark Herr confirmed that Benmosche said he would like to continue as CEO beyond 2012, health permitting.
Benmosche said he has told investors that AIG expects to rebound as markets start to improve, and the company is focusing on profitability by being selective about the insurance policies it writes.
