Dear AIG Shareholder,
2018 marked Brian Duperreault’s first full year as President and Chief Executive Officer of AIG. During his tenure, Brian and his leadership team have worked quickly to implement a strategy that is repositioning AIG to be an industry leader delivering sustainable, profitable growth. To date, they have undertaken a number of actions, including:
- Continuing to add world-class talent across the organization
- Reducing risk and volatility in AIG’s portfolio
- Recommitting to underwriting excellence
- Leveraging the benefits of AIG’s diversified global footprint
- Demonstrating a commitment to expense discipline while prudently deploying capital to invest in AIG’s businesses
We are also in the midst of a significant refreshment of the Board of Directors, adding additional insurance and investment expertise. In January, we announced the election of Thomas Motamed to the Board. Tom is an insurance industry veteran who previously served as Chairman and CEO of CNA Financial Corporation and before that spent 31 years with The Chubb Corporation.
We are pleased to introduce three new director candidates for election at this year’s Annual Meeting:
- Peter Porrino, formerly Executive Vice President and Chief Financial Officer of XL Group Ltd;
- Amy Schioldager, formerly Senior Managing Director and Global Head of Beta Strategies at BlackRock, Inc.; and
- Therese Vaughan, former CEO of the National Association of Insurance Commissioners and the Robb B. Kelley Visiting Distinguished Professor and former Dean of the College of Business and Public Administration at Drake University.
Theresa Stone will be retiring as a Director at this year’s Annual Meeting, as she has reached our general retirement age under our corporate governance guidelines, and Ronald Rittenmeyer has advised us that he will not stand for election, given other professional commitments. I want to thank them for their service and many contributions.
The Board is also grateful for the continued dedication of AIG’s employees around the world who serve the needs of the company’s clients, brokers and customers.
Thank you, our shareholders, for continuing to entrust us with your capital. I want to assure you that your Board is highly focused on ensuring that AIG is best positioned to deliver sustainable value for you over the long term.
Douglas M. Steenland
Independent Chairman of the Board