AIG names Aon's Eric Andersen to succeed Peter Zaffino as CEO

AIG said Eric Andersen will join as president and CEO‑elect on Feb. 16 and will become CEO after June 1, while Peter Zaffino will step down as chief executive midyear and move to the role of executive chair.

American International Group announced a planned leadership change at the top of the company. Peter Zaffino will step down as chief executive after June and will transition to the role of executive chair. Eric Andersen, a long‑time Aon executive, will join AIG as president and CEO‑elect on Feb. 16 and is slated to assume the CEO position after June 1. Andersen spent nearly three decades at Aon, served as its president from 2020 through 2025 and later acted as a strategic adviser to Aon CEO Greg Case. Key facts: - Peter Zaffino joined AIG in 2017, became CEO in 2021 and chairman in 2022, and will move to executive chair after stepping down as CEO. - Eric Andersen will join AIG on Feb. 16 as president and CEO‑elect and will assume the CEO role after June 1. - Andersen spent almost 30 years at Aon, served as Aon president from 2020–2025 and worked as a strategic adviser to Aon leadership. - Sources report Zaffino led a multi‑year turnaround at AIG with five consecutive years of underwriting profitability through 2025, and AIG shares rose more than 85% during his tenure; the stock was reported down nearly 5% in premarket trading on the announcement. Summary: The company has announced a defined timeline for the transition, with Andersen joining in mid‑February and taking over as CEO after June 1 while Zaffino becomes executive chair. The change follows a period the company reports as improved underwriting results and significant share gains under Zaffino. Market reaction included a reported premarket decline on the day the news was released.