New Blood, Same Veins

March 3, 2015

Most of the new CEO appointments at many of the world’s top insurance companies are what one would expect: men who have spent their entire careers in the insurance business. Not all succession tales fit this pattern, however.

A case in point is Christopher Swift, who replaced Liam McGee as The Hartford’s CEO last year. Although Swift enjoyed a long tenure at AIG, he began his career in public accounting at KPMG, with a focus on financial services. Peter Hancock, AIG’s new CEO, replacing Robert Benmosche, spent 20 years at J.P. Morgan, where he ran the Global Fixed Income business and Global Credit portfolio. Both new CEOs bring deep finance and accounting experience to two insurers that were badly damaged during the global financial crisis.