NEW YORK, February 27, 2015 – American International Group, Inc. (NYSE: AIG) today announced with great sorrow the death of its former President and Chief Executive Officer, Robert H. Benmosche. Mr. Benmosche, 70, who had undergone treatment for lung cancer since 2010, died this morning at 8:15 a.m. at NYU Langone Medical Center, with his family at his side.
“We announce this news with profound sadness, and our thoughts and prayers are with Bob’s family at this difficult time,” said Robert S. Miller, Chairman of the AIG Board of Directors. “Bob was one of the most inspirational and successful leaders in corporate America by any measure. We will never forget that under Bob’s extraordinary leadership, the people of AIG repaid America in full plus a profit of nearly $23 billion. Everyone in the AIG family has been greatly blessed by Bob’s vision, his loyalty, and his friendship during his five years with the company. Bob was a brilliant man who brought tremendous leadership, energy, passion, and tenacity to his job. At AIG, we will honor his legacy by continuing to focus on integrity and performance. He will be deeply missed.”
“Like so many people who had the privilege to work with Bob, I am humbled and inspired by the example he set,” said Peter D. Hancock, President and Chief Executive Officer, AIG. “Bob was piercingly honest and driven by a remarkable belief in the possibility of greatness that exists in every person. He poured his energy and focus into enabling AIG’s people to live up to their potential, and that’s why this company today is a sustainable enterprise that understands the importance of meeting and exceeding the expectations all of our stakeholders. As we build on his legacy at AIG in so many ways, let’s remember him by living and working according to a belief he stated repeatedly and upheld in the most trying of circumstances: ‘There is no limit to the greatness that good people can accomplish when you give them the freedom to act.’”
Mr. Benmosche served as President and CEO of AIG from August 10, 2010, to September 1, 2014. Upon arriving at AIG, Mr. Benmosche was responsible for a company that had received taxpayer assistance in connection with the 2008 financial crisis totaling some $182 billion. By 2012, AIG had repaid that assistance plus a combined positive return of nearly $23 billion through divesting various businesses and other restructuring activities. By 2014, AIG had completely returned to profitability as a global leader in property, casualty, and consumer insurance.
Mr. Benmosche was the former Chairman, President, and Chief Executive Officer of MetLife, a leading provider of insurance and other financial services. Mr. Benmosche led the transition of MetLife from a mutual to a public company in 2000. He joined MetLife in 1995 as Executive Vice President responsible for business integration and product development, marketing and sales efforts focused on MetLife’s individual customers.
Earlier in his career he served as Executive Vice President for PaineWebber, Inc., where he directed the merger of Kidder Peabody into PaineWebber. He also served in various capacities with Chase Manhattan Bank from 1976 to 1982.
Mr. Benmosche was inducted into the Insurance Hall of Fame in 2013, and was named Insurance Leader of the Year by St. John’s University School of Risk Management in 2014.
Mr. Benmosche served two terms as a member of the Board of Directors of Credit Suisse Group. Mr. Benmosche served as a Lieutenant in the United States Army from 1966 to 1968. He received a B.A. degree in Mathematics from Alfred University in 1966, and was awarded an honorary doctorate in Business from Alfred University in 2013.
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American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.