It’s been a tumultuous stretch for AIG, which replaced CEO Peter Hancock in 2017, less than three years after he started. The insurance company, which nearly collapsed during the financial crisis, has been struggling to improve its results for years under pressure from activist investor Carl Icahn, who ultimately sold his stake this spring. AIG’s new CEO, former employee Brian Duperreault, still has work to do to accomplish a turnaround. While the more than $6 billion loss the insurer booked last year was largely due to a charge from the new tax law, the triple whammy of hurricanes, California wildfires and the Mexican earthquake didn’t help either.
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News about AIG
The stock price reached $300,000 for the first time.
A Trump ally and Obama holdover are vying to be director.
A successor has yet to be named.