PRESS RELEASE
AIG
175 Water Street,
New York, NY 10038
www.aig.com

Contacts:
Sabra Purtill (Investors): sabra.purtill@aig.com
Shelley Singh (Investors): shelley.singh@aig.com
Claire Talcott (Media): claire.talcott@aig.com

AIG Announces Leadership TransitionsPeter S. Zaffino to Become Chief Executive Officer and Joins Board
Brian Duperreault to Become Executive Chairman
Douglas M. Steenland to Become Lead Independent Director

NEW YORK, October 26, 2020 -- American International Group, Inc.
(NYSE: AIG) today announced leadership transitions for its executive
team and Board of Directors.
The AIG Board of Directors has named Peter S. Zaffino Chief Executive
Officer of AIG, effective March 1, 2021, in addition to his current role asPresident of the company. Mr. Zaffino has also been appointed to serve
as a Director, effective immediately.
Brian Duperreault will become Executive Chairman and Douglas M.
Steenland, currently Independent Chairman of the Board, will become
Lead Independent Director, also effective March 1, 2021.
Mr. Zaffino stated, “I am honored to succeed Brian as Chief Executive
Officer of AIG and want to thank him and the AIG Board of Directors forthis opportunity. I look forward to leading AIG’s next phase on our journey
to becoming a top performing company.”
Mr. Duperreault stated, “I want to thank the AIG Directors for theircontinued support and congratulate Peter on his well-deserved election as
the next Chief Executive Officer of AIG. Peter has been instrumental in thesignificant turnaround and transformation at AIG and his vision,
determination and pursuit of excellence will help ensure the company’sfuture success.”
Mr. Steenland, speaking on behalf of the Board of Directors, said, “We are
grateful to Brian for his leadership and expertise in guiding the strategic
repositioning of AIG’s businesses as market leaders and we look forward
to his ongoing contributions as Executive Chairman. We are extremely
fortunate to have an executive of Peter’s caliber and have great
confidence about the future of the company under his leadership.”In separate press releases issued today, AIG announced its intention to
separate the Life & Retirement business from AIG and provided an updateon catastrophe losses, including COVID-19 catastrophe-related losses, forthe quarter ended September 30, 2020, as well as Life & Retirement andLegacy annual actuarial assumptions.

###American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies
provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial
services to customers in more than 80 countries and jurisdictions. These diverse offerings include products andservices that help businesses and individuals protect their assets, manage risks and provide for retirement
security. AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter:@AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These referenceswith additional information about AIG have been provided as a convenience, and the information contained onsuch websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance
operations of American International Group, Inc. For additional information, please visit our website atwww.aig.com. 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, andcoverage is subject to underwriting requirements and actual policy language. Non-insurance products andservices 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, andinsureds are therefore not protected by such funds.