An internal probe found 11 secondees across seven agencies removed 379 items of operational data, prompting tighter controls and one-month voluntary pay cuts for senior executives.
The company will consolidate its domestic operations and appoint a new leadership team effective Wednesday, 1 April 2026 to support growth in its insurance and global asset management businesses.
The firm's new CEO, Hiromitsu Tokumaru, said it would overhaul its life planner model and pay structure to curb aggressive sales pressures following the fraud scandal.
The company's minimum 90 day voluntary suspension of new sales begins on 9 February, as the insurer moves to implement governance and sales-practice reforms.
The insurer says that Kan Mabara will step down from Feb 1, after an internal probe found 100 staff profited from improper schemes affecting nearly 500 clients.
Confirmation of the independent investigation, which commenced last month, comes amid Neal’s withdrawal from AIG President role he was due to commence in December.
