AIG chief exec reveals he has cancer to staff

ROBERT Benmosche the chief executive of US insurance giant American International Group (AIG) has revealed he has cancer and is currently undergoing “aggressive chemotherapy” to fight the disease.

The 66-year-old said in a letter to employees on Monday that he began treatment last week and felt fine, although the long-term prognosis would be clearer over the next couple of months.

Benmosche, who has said he plans to retire sometime in 2012, took over as chief executive in August last year, as AIG was struggling to sell assets to repay the US government after receiving a $182.3bn (£115.4bn) taxpayer-funded bailout during the crisis. He was the fourth person to take the top job at AIG in just over a year.

Since then, he has led a surprising turnaround for AIG, bringing the insurer to a point where the government has an accelerated path out of its investment in the company.