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AIG Appoints Michael Smith COO of Commercial Insurance; James Shea, President Global Financial Lines; And Robert Thomas, President Global Specialty Lines

NEW YORK--(BUSINESS WIRE)--Mar. 4, 2014-- American International Group, Inc. (NYSE:AIG) today announced senior leadership changes in its Commercial Insurance business, naming Michael Smith Chief Operating Officer (COO). Also, James Shea has been appointed President of Global Financial Lines, and Robert Thomas has been named President of Global Specialty Lines. All three executives will report to John Q. Doyle, CEO of Global Commercial Insurance.

As COO, Mr. Smith will be responsible for advancing Commercial Insurance’s long-range strategies and its customer-focused distribution strategy. He will direct a team responsible for broker and client relationships; Global Risk Solutions, including multinational insurance strategy; and marketing strategy and innovation. Mr. Smith will also oversee operations and systems initiatives for Commercial Insurance worldwide.

Mr. Smith most recently served as President of Global Financial Lines for AIG. Prior to that, he was President of Executive Liability. Mr. Smith has significant global experience in underwriting and claims management.

Mr. Shea, currently President of Global Specialty Lines, will assume Mr. Smith’s responsibilities as the new President of Global Financial Lines. Mr. Shea began his career with National Union in New York and has held senior positions including Managing Director for AIG Property Casualty in the UK; Regional President for AIG Property Casualty in the Central Europe and CIS Region; Head of Financial Lines for AIU Insurance Company; and Regional Vice President, General Insurance in Japan. Mr. Shea has been based in various cities throughout his tenure with AIG, including London, New York, Singapore, Paris, and Tokyo.

Mr. Thomas will succeed Mr. Shea as President of Global Specialty Lines. In this role, he will oversee aerospace, environmental, marine, trade credit, political risk, surety, and programs insurance worldwide. Mr. Thomas moves to the role after serving as the Commercial Insurance COO since 2011. He was instrumental in setting Commercial Insurance on the right path to improve its business mix and build its strategy. He has deep experience in international commercial lines, having served as President of AIU Commercial Lines. Mr. Thomas also held the position of Executive Vice President for AIU Corporate Accounts. He was Regional President for the Southeast Asia/China Region and the Middle East, Mediterranean, and South Asia Region (MEMSA), as well as Country Head of AIA Life China.

“Mike, Jim, and Bob are experienced and highly effective executives, each of whom has experience leading global businesses,” said Mr. Doyle, Commercial Insurance CEO. “We are industry leaders, known for great people, and a commitment to our clients and business partners. We have continued to progress towards our vision to become our customers’ most valued insurer, and I am confident that these changes will further enable us to do so, bringing new perspective and expertise to our clients and distribution partners worldwide.”

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig |Twitter: @AIGInsurance | LinkedIn: http://www.linkedin.com/company/aig |

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 at www.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 jurisdictions, and coverage is subject to 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.

Source: American International Group, Inc.

Matt Gallagher, 212-458-3247