LONDON, UK / ACCESSWIRE / September 27, 2017 / Pro-Trader Daily looks at the latest corporate events and news making the headlines for American International Group, Inc. (NYSE: AIG) ("AIG"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=AIG. The Company announced on September 25, 2017, the restructuring of its organizational structure into three new business units, while the Commercial and Consumer units will be eliminated. The new structure is likely to be reflected in AIG's year-end financial reporting and will align its incentive and performance management systems accordingly. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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New Organization Structure

AIG plans to have three new business units, namely: (i) General Insurance, (ii) Life & Retirement, and (iii) a technology-enabled unit.

Peter Zaffino will serve as the Chief Executive Officer (CEO) of General Insurance; Kevin Hogan will serve as the CEO of Life & Retirement, and the technology-enabled platform will be led by Seraina Macia as CEO.

Both General Insurance and Life & Retirement will have distinct business units each, in order to reflect how business is marketed and underwritten.

The General Insurance unit will include commercial and personal insurance, along with US and international field operations.

The Life & Retirement unit will comprise group retirement, individual retirement, life, and institutional markets.

Rob Schimek, CEO of the Commercial Business, will be leaving the Company at the end of October to seek alternative opportunities.

New Structure Likely to Maximize AIG's Global Platform by Empowering Local Geographies

Brian Duperreault, President and CEO of AIG, stated that these changes are designed to best positions in AIG for the future, as a growing, profitable leader in the insurance industry that is famous for its underwriting excellence. The Company believes this structure will maximize its global platform by empowering local geographies and provide its businesses with the greatest competitive advantage and ability to serve clients.

Duperreault thanked Schimek for his many contributions to AIG over his 12 years with the Company, and for being a valued member of the leadership team, a great colleague, and friend to many.

Leadership Team of New Business Divisions

Kevin Hogan rejoined AIG in October 2013 as CEO of the Consumer unit. He is responsible for AIG's Retirement, Life, and Personal Insurance businesses, providing annuities, mutual funds, life, health, disability, auto, personal accident, personal property, and service programs including extended warranty and travel insurance products and services.

In July 2017, the Company appointed Peter Zaffino as Executive Vice President and Global Chief Operating Officer (COO). Zaffino's role includes leading the day-to-day business of all country operations, including US Commercial field operations and AIG's multinational organization, as well as Global Business Services, Administration, and Communications.

In the same month, AIG appointed Seraina Macia as Executive Vice President and CEO of a new planned subsidiary. She serves the Company's Executive Leadership Team (ELT).

About American International Group, Inc.

Founded in 1919, AIG is a leading global insurance organization serving commercial, institutional, and individual customers in more than 80 countries and jurisdictions. AIG's common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. The Company is headquartered in New York City.

Last Close Stock Review

On Tuesday, September 26, 2017, the stock closed the trading session at $60.47, marginally down 0.89% from its previous closing price of $61.01. A total volume of 7.69 million shares have exchanged hands, which was higher than the 3-month average volume of 4.82 million shares. American Intl.'s stock price advanced 3.81% in the previous twelve months. The stock has a dividend yield of 2.12% and currently has a market cap of $55.98 billion.

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