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Peter Zaffino to step down from AIG board before joining Palantir
AIG said Zaffino will exit effective September 15, 2026, after five straight years of underwriting profitability from 2021 to 2025.
AIG announced that Peter Zaffino will step down as executive chair and as a member of its board effective September 15, 2026. He will move into a senior advisor role to support AIG's leadership transition before joining Palantir Technologies as global head of financial services effective January 15, 2027.
The insurer also said its board has elected John Rice, AIG's lead independent director since January 2023, to become chair effective the same date as Zaffino's planned departure. Zaffino's transition is part of a multi stage succession process AIG began announcing in January 2026.
In February 2026, Eric Andersen joined AIG as president and CEO-elect, before formally becoming chief executive and joining the board on June 1. Zaffino moved into the executive chair role that same point, after previously serving as chairman and CEO since March 2021.
Insurance Business said Zaffino's tenure is widely credited with turning around AIG's underwriting performance, including five consecutive years of underwriting profitability from 2021 to 2025. The outlet also noted that AIG shares rose more than 85% during his time as chief executive, alongside efforts that included divesting non core assets and integrating generative AI into operations.