Benmosche says he sped up exit amid year-to-live prognosis: Bloomberg

Thu Aug 28, 2014 10:45am EDT

Robert Benmosche (L), president and CEO of American International Group, speaks to a reporter as he arrives at the White House in Washington, October 2, 2013, for a meeting of the Financial Services Forum with U.S. President Barack Obama.   REUTERS/Jason Reed

Robert Benmosche (L), president and CEO of American International Group, speaks to a reporter as he arrives at the White House in Washington, October 2, 2013, for a meeting of the Financial Services Forum with U.S. President Barack Obama.

Credit: Reuters/Jason Reed

(Reuters) - Robert Benmosche, the outgoing Chief Executive of American International Group Inc (AIG.N), sped up his exit from the insurer after learning that he had at most a year to live, Bloomberg reported.

Benmosche, originally scheduled to retire in 2015, was diagnosed with cancer in 2010. He learnt in May that he had nine months to a year to live.

He wants to enjoy the time he is left with after outliving earlier prognoses and repaying the insurer's $182.3 billion U.S. bailout, Benmosche told Bloomberg TV.

"You know what, I'm not going to play the odds" Benmosche said at his villa in Croatia. "So let's accelerate my retirement. And the board was happy to do that"

AIG could not immediately confirm the news.

The company said in June that Peter Hancock would succeed Benmosche as CEO and president, effective Sept. 1. Hancock joined AIG in 2010 and has headed the company's property-casualty business since March 2011.

(Reporting by Avik Das in Bangalore; Editing by Joyjeet Das)

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