AIG Announces Segment Shake-Up

American International Group on Monday announced a restructuring that will eliminate the company’s commercial and consumer segments, a move that includes the departure of Rob Schimek, the commercial segment’s chief executive officer. Instead of commercial and consumer, the company’s segments will instead include General Insurance and Life & Retirement segments. In addition, there will be a stand-alone, technology-enabled platform, led by Seraina Macia as CEO. General Insurance will include commercial, personal insurance, and U.S. and international fie...