Jon Hancock, who is at the helm of the International Commercial Insurance division, will now also oversee the newly formed Global Personal Insurance segment. Credit: Business Wire/AIG.

American International Group (AIG) has restructured its operations into three business segments – North America Commercial Insurance, International Commercial Insurance and Global Personal Insurance.  

Jon Hancock, who is at the helm of the International Commercial Insurance division, will now also oversee the newly formed Global Personal Insurance segment. 

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The Global Personal Insurance segment includes personal home and auto, global accident and health, global warranty and services, and high-net-worth businesses.  

Hancock is assuming the role of executive vice-president (EVP) and CEO of International Commercial Insurance and Global Personal Insurance. 

North America CEO and EVP Don Bailey will maintain his leadership over the North America Commercial Insurance business.  

AIF CEO and chairman Peter Zaffino said: “Jon’s deep insurance industry expertise and significant experience managing global businesses ideally qualify him for this expanded role leading our International Commercial Insurance and Global Personal Insurance businesses.  

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“Our new structure simplifies our reporting segments, while driving operational efficiency and enhanced value for all of our stakeholders.”  

Hancock stated: “I look forward to working closely with our Personal Insurance teams across the globe to build on our momentum and unlock opportunities for our clients and strengthen relationships with our distribution partners around the world.” 

Earlier this month, AIG named Christopher Flatt as global chief underwriting officer.  

Flatt succeeds Christopher Schaper, who transitioned to the role of chief risk officer in November 2024.  

With Flatt’s new position, Erin Fry, EVP of AIG’s commercial lines programmes, will step into his previous role to lead AIG North America’s alternative channels. 

Last month, AIG headed the formation of a new reinsurance syndicate at Lloyd’s, named Syndicate 2478.