Insight and Intelligence on the London & International Insurance Markets

26 April 2017

Search archive

Hancock denied bonus but gets $5mn for AIG transition

Dan Ascher 17 March 2017

AIG will not pay its outgoing CEO Peter Hancock a cash bonus for last year after the insurance giant was forced to swallow a number of significant reserve charges, but he will be paid $5mn for staying on during a transition period.

In a US Securities and Exchange Commission filing, AIG said that Hancock would not receive a 2016 short-term incentive award that could have amounted to $3.2mn, based on the 2015 target amount.

The insurer said the executive could...


If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership



Share:

Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2017. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π