Brian Duperreault is poised to return to AIG to lead efforts to bring back the insurer to its former glories, nine years after its $185bn financial-crisis bailout.
The 70 year-old chairman and chief executive of Hamilton Insurance Group could be appointed as soon as Thursday, according to people familiar with the matter. News of his prospective appointment was reported earlier by the Wall Street Journal. AIG has been talking about buying Hamilton as part of a broader tie-up, one person said.
Mr Duperreault worked in executive positions at AIG for 16 years under Hank Greenberg. After leaving in 1994, he ran the insurer Ace for a decade. He went on to run the broking group Marsh & McLennan, and in 2013 set up Hamilton, a Bermuda reinsurer.
He is set to become AIG’s seventh chief executive since 2005. The incumbent Peter Hancock said in March he would stand aside once a replacement was found. The insurer has come under shareholder pressure in the wake of a $3bn quarterly loss and was targeted by activist Carl Icahn.