(Bloomberg) — American International Group Inc.'s new chief executive officer can expect to deal with a volatile industry, pressure from ratings firms and a restless board. And if the past is any guide, the new leader won't get an industry-leading compensation package for the trouble.
Peter Hancock, who is staying on until a successor is found, had reported compensation of $12.5 million in 2015, among the lowest for CEOs at industry peers. Dan Glaser, the head of broker Marsh & McLennan Cos. who is seen as a potential replacement at AIG, got $15.6 million. Mike McGavick received $12.7 million from XL Group Ltd. and told staff there that he isn't interested in the AIG job.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.