American International Group Inc. (AIG) on Wednesday announced that Eric Andersen would be joining the company as president and chief executive officer effective 16 February 2026, with current CEO Peter Zaffino transitioning to executive chair and retiring as CEO by mid-year.
Andersen joins AIG from Aon, where he most recently served on Aon’s executive committee and as a strategic advisor to the company’s president and CEO. In his nearly three decades with Aon, he held senior leadership roles, including president, CEO of Aon Benfield, and CEO of Aon Risk Solutions Americas. His prior leadership positions spanned global account management and financial services.
During his time as president of Aon from 2020 through 2025, Andersen led global programs that achieved gains in operational efficiency, improved performance for clients and the firm, increased shareholder returns, and grew market value from US$35bn to US$85bn.
In his new role at AIG, Andersen will report to Zaffino and is expected to assume the role of CEO and join the board after 1 June 2026, following an orderly transition period.
“Eric Andersen is a deeply experienced and widely respected leader, known across the insurance industry for his integrity, strategic vision, and proven ability to drive shareholder value,” John Rice, lead independent director at AIG said. “The Board is confident that he is the right executive to be the next CEO of AIG.”
Before his decision to retire as CEO, Zaffino had led AIG through a transformation amid macroeconomic and social challenges, reversed years of substantial underwriting losses through discipline, and delivered five consecutive years of underwriting profitability from his appointment as CEO in 2021 through 2025, the business said.
“Peter’s vision, tireless dedication, and laser-focused execution have fundamentally reshaped AIG, restoring its reputation as a global leader and delivering outstanding value for clients, colleagues, and shareholders,” said Rice. “As we onboard Eric, we are grateful to benefit from Peter’s continued leadership as CEO, and then as executive chair, where he will continue to drive AIG’s future-focused digital and data initiatives and strategic relationships.”
Andersen’s move to AIG follows the company’s announcements last month of high-ranking appointments: Adam Clifford as CEO of international commercial insurance, effective 5 January 2026, and Scott Leney as regional president for Asia-Pacific, effective 1 February 2026.
IT also arrives after AIG and John Neal mutually agreed not to proceed with Neal’s hire as president of general insurance, citing “personal circumstances”, amid an independent review into possible past conduct at Lloyd’s.
