AIG's Peter Eastwood leaves

John Doyle, head of AIG's global commercial biz, will assume Eastwood's responsibilities until permanent replacement is named

Bs_logoImage
Bloomberg
Last Updated : Apr 27 2013 | 3:04 AM IST
Peter Eastwood, the chief executive officer of American International Group Inc's Americas property-casualty operation, has left the insurer with three other managers.

John Doyle, head of AIG's global commercial business, will assume Eastwood's responsibilities until a permanent replacement is named, said Matt Gallagher, a spokesman for New York-based AIG. Warren Buffett's Berkshire Hathaway Inc hired Eastwood and three other executives, Insurance Insider reported.

The departures add to vacancies that Peter Hancock, CEO of AIG's property-casualty unit, needs to fill as he seeks to scale back from some capital-intensive lines of coverage and target increased sales of consumer insurance. Jeffrey Hayman, who led global consumer coverage at AIG's property-casualty unit, left in January for Starr International Co.

The insurer dropped $1.61, or 3.8 per cent, to $40.47 at 11:52 am in New York and has gained 15 per cent this year. Omaha, Nebraska-based Berkshire slipped 0.5 per cent, and is up 20 per cent since December 31.
Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories

  • Over 30 subscriber-only stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 27 2013 | 12:32 AM IST