Three weeks after AIG reported a titanic loss, the person chosen to turn things around at one of the world's largest insurance companies is stepping down.
AIG said Thursday that CEO Peter Hancock, appointed less than three years ago, will remain as the company's chief executive until a successor is found.
American International Group Inc. reported a fourth-quarter loss of $3.04 billion on Feb. 14, and company shares plunged 9 percent in one day.
It was its worst performance since the New York company nearly collapsed in 2008 at the height of the financial crisis. AIG required a $180 billion bailout to prevent a total implosion.
The company paid a record $1.64...