Changes in positions
On March 1, 2018, American International Group (AIG) announced that changes had been made to its leadership positions. Naohiro Mouri had been appointed as the new executive vice president and chief auditor, and Donna DeMaio would be the global chief operating officer of the company’s general insurance division.
According to the chair of the audit committee, the appointment of Mouri will be a value addition due to his experience and his understanding of the company’s day-to-day activities.
According to Brian Duperreault, Mouri’s strong performance capabilities and international mindset will act as value enhancers in the field of risk management. Duperrault added that DeMaio will perform her duties with complete focus and will be a valuable addition to the general insurance division, helping it to witness long-term growth.
Zaffino’s and DeMaio’s viewpoints
According to the general insurance division’s CEO, Peter Zaffino, the appointment of DeMaio will help make the general insurance division a successful one, as DeMaio has a wealth of experience with respect to the financial sector.
DeMaio will focus on making the general insurance division profitable. According to the company, she plans to effectively utilize the division’s strengths in order to improve its performance.
AIG’s return on assets stands at 0.13% on a trailing-12-month basis, and its peers (XLF) Arch Capital Group (ACGL), CNO Financial Group (CNO), and Travelers Companies (TRV) have returns on assets of 2.1%, 0.54%, and 2.2%, respectively, on a trailing-12-month basis.