American International Group, Inc. announced that AIG and Peter Zaffino, President & Chief Executive Officer and Chairman of the Board, have entered into an agreement securing Mr. Zaffino’s employment through November 10, 2027.

Speaking on behalf of the AIG Board of Directors, John G. Rice said, “We are fortunate to have Peter continue as the CEO of AIG for at least the next five years. Throughout his career, Peter has developed an excellent track record as a visionary, insightful leader, with an ability to execute comprehensive transformational programs that turn his strategic vision into tangible, measurable success. Under Peter’s leadership, AIG has delivered on ambitious operational and financial objectives and is well positioned to continue to drive long-term value for the company’s shareholders and other stakeholders.”

Peter Zaffino stated, “Over the last few years, our global team has executed a complex, multi-faceted turnaround and transformation to elevate AIG’s performance, and deliver value to our clients, distribution partners, shareholders, and other stakeholders. We instilled a culture of underwriting and operating excellence, dramatically changed our risk tolerance, and transformed the way we work and collaborate across the organization. It is a privilege to lead AIG and our talented group of colleagues, and I look forward to continuing to build on our significant momentum on our journey to become a top performing company and market leader in everything we do.”

More information is available in the Company’s Form 8-K, filed today with the U.S. Securities and Exchange Commission.