AIG names new CEO, breaks up its insurance business | Malay Mail

Once the world's largest insurer, AIG was teetering on the verge of collapse under tens of billions of dollars of souring, unhedged derivatives contracts in September 2008 when it sought liquidity from the New York Fed.― Reuters pic

Once the world's largest insurer, which needed a US government bailout to survive the 2008 global financial crisis, named Peter S. Zaffino to lead AIG starting March 1, 2021, in addition to his current role as the company's president. “Peter has been instrumental in the significant turnaround and transformation at AIG and his vision, determination and pursuit of excellence will help ensure the company's future success,” Duperreault said.

Once the world's largest insurer, AIG was teetering on the verge of collapse under tens of billions of dollars of souring, unhedged derivatives contracts in September 2008 when it sought liquidity from the New York Fed.

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