American International Group Inc. President and CEO Robert H. Benmosche has been named the 2013 Insurance Hall of Fame winner by the International Insurance Society, the New York-based IIS announced Wednesday.
The Insurance Hall of Fame award honors insurance leaders who have made a broad, encompassing and lasting contribution to the insurance industry and who are recognized by their peers as successful leaders, innovators and visionaries. A slate of five nominees for the Insurance Hall of Fame was selected by the IIS honors committee, a body of senior insurance executives and academics, and voted on by the IIS membership.
“We cannot think of anyone who more fully embodies the criteria for the Insurance Hall of Fame Award than Mr. Benmosche,” said Bernhard Fink, IIS honors committee chairman, in a statement announcing the award. “During his long and successful career in our industry, he has demonstrated extraordinary leadership skills and business acuity.”
“AIG's astonishing turnaround during Mr. Benmosche's three-year reign is nothing short of remarkable and further speaks to his outstanding management abilities evident throughout his extensive career in the industry”, said IIS President and CEO Michael J. Morrissey in the statement.
Mr. Benmosche will be inducted at the June 17 gala dinner in conjunction with the IIS 49th Annual Seminar at the Grand Hyatt in Seoul, South Korea.
(Reuters) — The U.S. Treasury Department said on Friday it has completed its final sale of common stock in American International Group Inc., reducing its shares in the insurer to zero four years after a massive government bailout.