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    Peter Zaffino

    Chairman and Chief Executive Officer at American International Group Inc
    Since 2021
    Age
    58 years
    Tenure
    Joined AIG in 2017 as an executive officer and advanced through roles including Executive Vice President & Global Chief Operating Officer (2017–2021), Chief Executive Officer (since 2021), President (since 2020), and Chairman (since 2022).

    Also at American International Group Inc

    CF
    Charlie Fry
    Executive Vice President, Reinsurance and Risk Capital Optimization
    CF
    Christopher Flatt
    Executive Vice President and Global Chief Underwriting Officer
    DB
    Don Bailey
    Executive Vice President and Chief Executive Officer, North America Insurance

    About

    Peter Zaffino is currently 58 years old and has established a strong reputation in the insurance and financial services industry through his diverse leadership roles at AIG.

    He began his career at AIG in 2017 as an executive officer and quickly advanced through critical functions, including serving as Executive Vice President & Global Chief Operating Officer and later as Chief Executive Officer, before also assuming the role of Chairman in 2022.

    Prior to his tenure at AIG, he held prominent positions at Marsh & McLennan Companies and GE Capital, gaining extensive experience in risk management, operations, and strategic leadership. This background has contributed to his objective and transformative approach in leading AIG and engaging in various community and professional initiatives.

    Past Roles

    OrganizationRoleDate RangeDetails
    AIG Executive Vice President & Global Chief Operating Officer 2017 - 2021 Held prior to promotion to Chairman & CEO
    AIG President Since January 2020 - (ended upon promotion) Held before current role as Chairman & CEO
    AIG Chief Executive Officer, General Insurance November 2017 - 2019 Role concluded upon restructuring
    Marsh & McLennan Companies, Inc. Chairman for the Risk and Insurance Services segment 2015 - 2017 N/A
    Marsh & McLennan Companies, Inc. Chief Executive Officer of Marsh, LLC 2011 - 2017 N/A
    Marsh & McLennan Companies, Inc. President & Chief Executive Officer of Guy Carpenter 2008 - 2011 N/A
    Marsh & McLennan Companies, Inc. Various senior positions at Guy Carpenter 2001 - 2008 N/A
    GE Capital Executive role at a GE Capital portfolio company 1995 - 2001 Held several senior positions

    External Roles

    OrganizationRoleDate RangeDetails
    Corebridge Financial, Inc. Chairman 2021 - Present N/A
    The Michael J. Fox Foundation for Parkinson’s Research Director 2016 - Present N/A
    New York Police and Fire Widows’ and Children’s Benefit Fund Director 2013 - Present N/A

    Fixed Compensation

    Data from  FY 2024
    Component NameAmount ($)Payment ScheduleAdditional Details
    Salary1,500,0002024 AnnualFixed cash compensation, unchanged from 2023
    All Other Compensation298,4422024 AnnualIncludes benefits and perquisites; specific breakdown not provided

    Performance Compensation

    Data from  FY 2024

    Performance Share Units (PSUs)

    MetricDetails
    Grant DateFebruary 20, 2024
    Grant Date Fair Value$10,339,947
    Weight75% of LTI award
    Performance MetricsAYCR (adjusted), AIG Parent Exit Run-Rate General Operating Expenses, Diluted Normalized AATI, TSR
    Evaluation Period3 years
    Vesting ScheduleCliff vest on January 1, 2027

    Stock Options

    MetricDetails
    Grant DateFebruary 20, 2024
    Grant Date Fair Value$3,499,984
    Exercise Price$68.13 per share
    Number of Options199,543
    Vesting ScheduleRatably in thirds on the first, second, and third anniversaries

    Non-Equity Incentive Plan Compensation (STI)

    MetricDetails
    Target Amount$4,500,000
    Maximum Amount$9,000,000
    Actual Award Amount$9,000,000 (200% of target)
    Company Performance Score143%
    Individual Performance Score150%
    Vesting SchedulePayout determined in Q1 2025 based on 2024 performance
    ConditionsContingent on active employment and adherence to STIP terms