Brian Duperreault has been appointed President, CEO and a director of AIG, replacing Peter Hancock.

Mr Duperreault began his insurance career at AIG in the 1970s and worked there until 1994.

He has led Ace (now Chubb), Marsh & McLennan and most recently Bermuda-based Hamilton Insurance.

Chairman Douglas Steenland says Mr Duperreault is “uniquely qualified” to lead the global insurer.

“He worked for AIG for 21 years at the start of his career, so he knows this company well,” Mr Steenland said.

“He is a hands-on leader who has consistently delivered strong bottom-line results. He has demonstrated a passion for deploying new and innovative ways to serve clients.”

At Hamilton Mr Duperreault introduced cutting-edge data science and analytics.

He says he aims to make AIG the most technology-enabled and capital-efficient carrier in the industry.