“Let me be clear, I am here to grow A. I.G.,” the executive, Brian Duperreault, said at the company’s consumer insurance investor day on Monday.<br />He also would receive a one-time cash award of $12 million as compensation for unvested equity<br />that he forfeited by leaving Hamilton and the option to purchase 1.5 million shares of A. I.G.<br />Mr. Duperreault replaces Peter D. Hancock, who abruptly announced plans to resign as A. I.G.’s chief<br />executive in March after shareholders lost faith in a two-and-a-half-year turnaround effort.<br />He will receive an annual salary of $1.6 million; a short-term annual incentive bonus of $3.2<br />million, which would be prorated for 2017; and a long-term incentive award of $11.2 million.<br />Mr. Duperreault, who founded and was chief executive of the Hamilton Insurance Group of Bermuda, does not come cheap.<br />Mr. Duperreault becomes the sixth chief executive to run the insurer since the departure of Mr. Greenberg, who is known as Hank.<br />I.G., Mr. Duperreault will find a company much different from when he left<br />and will face a difficult task in bringing the insurer back to its pre-crisis heights.<br />He served as chief executive of ACE until 2004, when he was replaced by Evan G. Greenberg, Mr. Greenberg’s son and now the chief executive of Chubb.<br />Mr. Duperreault, 70, worked 21 years at A. I.G.<br />He was a lieutenant to Maurice R. Greenberg, who built the New York-based company into a global<br />colossus before resigning as chief executive amid accounting investigations in 2005.
