Sept 1 American International Group on Monday said that Peter Hancock has assumed the role of President and Chief Executive Officer, replacing Robert Benmosche.
Benmosche, originally scheduled to retire in 2015, was diagnosed with cancer in 2010. He learned in May that he had nine months to a year to live.
Benmosche will now serve as an advisor, the company said in a statement.
The insurer had 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 Narottam Medhora in Bangalore Editing by W Simon)