American International Group has officially announced a major leadership transition in early 2026. Peter Zaffino, who has served as Chairman and CEO since March 2021, will transition to the role of Executive Chair of AIG and step down as CEO by mid-year. The move represents the culmination of AIG’s comprehensive succession planning efforts and marks a significant moment in the company’s ongoing transformation.
Peter Zaffino’s Tenure and Strategic Impact
During his nearly five-year tenure as CEO, Peter Zaffino has successfully navigated AIG through a remarkable business turnaround amid challenging macroeconomic and socio-economic conditions. His leadership has been instrumental in stabilizing and revitalizing the company’s operations and strategic positioning. The board’s decision to transition him to Executive Chair underscores the company’s commitment to maintaining continuity and preserving the institutional knowledge that Zaffino has accumulated during his transformative leadership period.
Eric Andersen: The Next CEO From Aon
To lead AIG into its next chapter, the board has appointed Eric Andersen as President and CEO-elect, effective February 16, 2026. Andersen brings nearly three decades of experience within the global insurance industry, most recently serving as a strategic advisor and member of the Executive Committee at Aon, one of the world’s largest insurance consulting firms. Throughout his career at Aon, Andersen has held an impressive array of senior leadership positions, including President of Aon, CEO of Aon Benfield, and CEO of Aon Risk Solutions Americas, along with extensive background in global account management and financial services leadership.
The Transition Timeline and Leadership Continuity
The succession process has been carefully structured to ensure operational continuity and a seamless transfer of power. Eric Andersen will report directly to Peter Zaffino during an orderly transition period, allowing for knowledge transfer and strategic alignment. After June 1, 2026, Andersen is expected to assume the full role of Chief Executive Officer and join AIG’s Board of Directors, signaling the formal completion of the leadership handoff. This deliberate timeline demonstrates AIG’s commitment to maintaining stability while embracing fresh leadership perspectives for sustainable long-term growth.
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Peter Zaffino Steps Aside As AIG CEO, Making Way For New Leadership Era
American International Group has officially announced a major leadership transition in early 2026. Peter Zaffino, who has served as Chairman and CEO since March 2021, will transition to the role of Executive Chair of AIG and step down as CEO by mid-year. The move represents the culmination of AIG’s comprehensive succession planning efforts and marks a significant moment in the company’s ongoing transformation.
Peter Zaffino’s Tenure and Strategic Impact
During his nearly five-year tenure as CEO, Peter Zaffino has successfully navigated AIG through a remarkable business turnaround amid challenging macroeconomic and socio-economic conditions. His leadership has been instrumental in stabilizing and revitalizing the company’s operations and strategic positioning. The board’s decision to transition him to Executive Chair underscores the company’s commitment to maintaining continuity and preserving the institutional knowledge that Zaffino has accumulated during his transformative leadership period.
Eric Andersen: The Next CEO From Aon
To lead AIG into its next chapter, the board has appointed Eric Andersen as President and CEO-elect, effective February 16, 2026. Andersen brings nearly three decades of experience within the global insurance industry, most recently serving as a strategic advisor and member of the Executive Committee at Aon, one of the world’s largest insurance consulting firms. Throughout his career at Aon, Andersen has held an impressive array of senior leadership positions, including President of Aon, CEO of Aon Benfield, and CEO of Aon Risk Solutions Americas, along with extensive background in global account management and financial services leadership.
The Transition Timeline and Leadership Continuity
The succession process has been carefully structured to ensure operational continuity and a seamless transfer of power. Eric Andersen will report directly to Peter Zaffino during an orderly transition period, allowing for knowledge transfer and strategic alignment. After June 1, 2026, Andersen is expected to assume the full role of Chief Executive Officer and join AIG’s Board of Directors, signaling the formal completion of the leadership handoff. This deliberate timeline demonstrates AIG’s commitment to maintaining stability while embracing fresh leadership perspectives for sustainable long-term growth.