1. Don Bailey is retiring as CEO of North America Commercial Insurance at AIG. 2. Bailey's leadership repositioned AIG in the North American insurance market. 3. New leadership structure to take effect on January 1, 2026. 4. Allison Cooper, Barbara Luck, and Lou Levinson will assume key roles. 5. Peter Zaffino praised Bailey's impact on AIG’s growth and relationships.
The transition in leadership may introduce new strategies, sustaining positive momentum. Historical shifts in executive roles often lead to renewed investor confidence.
Executive changes are critical for operational direction. Investor sentiment can shift significantly based on leadership announcements, especially given Bailey's contributions.
While leadership changes typically have immediate impacts, long-term effects depend on execution. Similar past changes at AIG often resulted in initial stock reactions but long-term stability is uncertain.
Today, American International Group, Inc. (NYSE:AIG) announced the retirement of Don Bailey, Executive Vice President and Chief Executive Officer, North America Commercial Insurance, who will step down at year-end to focus on his health, and announced a new leadership structure for North America.
Mr. Bailey's retirement concludes a distinguished career in the insurance industry spanning nearly 40 years. Mr. Bailey has played a critical leadership role in repositioning the Company's North America Commercial business in the marketplace as part of AIG's strategic repositioning. During his tenure, AIG revitalized its North America broker and client relationships and implemented a successful distribution strategy which achieved record levels of client retention and new business.
AIG's new North America leadership structure will take effect on January 1, 2026, and the following leaders will report to John Neal, the incoming President of AIG:
- Allison Cooper will be promoted to Co-President, Retail, North America Commercial
- Barbara Luck, will be promoted to Co-President, Retail, North America Commercial
- Lou Levinson, will be promoted to President, Wholesale, North America Commercial
Peter Zaffino, Chairman & CEO of AIG, said, "Don Bailey has made a tremendous impact on AIG during his tenure. He revitalized AIG's distribution and client relationships and galvanized our North America team as we instilled underwriting excellence and established leadership in the marketplace. I am particularly grateful to Don for his deep commitment to AIG and for serving as a trusted partner to me and our Executive Leadership Team. I have worked with Don for many years and his tenure at AIG was his most impactful work, and I am grateful for all that he contributed. I am pleased that Allison, Barbara and Lou will assume new leadership roles and work closely with John Neal as we continue to deliver expertise, value and service to our clients and partners in North America."
Mr. Bailey commented, "Joining AIG at a pivotal moment in its turnaround and having the opportunity to work closely with Peter Zaffino again is the capstone of my career. It has been an honor to lead the incredibly talented and committed team of colleagues across North America. I am confident that Allison, Barbara and Lou serving on John Neal's leadership team will build on AIG's significant momentum in the marketplace."
About AIG
American International Group, Inc. (NYSE:AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in more than 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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Quentin McMillan (Investors): quentin.mcmillan@aig.com
Leah Gerstner (Media): leah.gerstner@aig.com