AIG CEO Peter Hancock Resigns

American International Group’s president and chief executive officer, Peter Hancock, has resigned, just weeks after the company reported a $3 billion loss for the fourth quarter of 2016. Hancock will remain as CEO until a successor has been named, AIG said in a news release on Thursday. The board of directors will conduct a comprehensive search for a successor. Last month, AIG posted a $3.04 billion loss for the fourth quarter, a period that included a $5.6 billion impact from prior year adverse loss reserve development. For the full year, AIG reported a loss of $849 million, ...