AIG’s Hancock expects more asset sales after insurer shrank

April 1, 2015 by Sonali Basak

(Bloomberg) — American International Group Inc. Chief Executive Officer Peter Hancock, who took over the top job in September, said he plans to sell more businesses that don’t align with the insurer’s biggest moneymakers.

“Floating or selling businesses that lack current or realizable potential synergy with our core operations” remains a key initiative, Hancock, 56, said Monday in his first letter to investors as head of the company. He became CEO in September after his predecessor, Robert Benmosche, sold assets and cut jobs to help repay a $182.3 billion government bailout.
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Originally Posted at LifeHealthPro on March 31, 2015 by Sonali Basak.