AIG PAYOUTS TO CHIEF EXECUTIVES TOTALLED $67.3M IN 2017

Global insurer AIG paid combined total 2017 compensation of $67.3m to former chief executive Peter Hancock and successor Brian Duperreault, the New York-based group disclosed in a securities filing on Tuesday. Hancock received total compensation of $24.2m for his 4.5 months in the post, while Duperreault received $43.1m for his 7.5 months. AIG came under heavy criticism for its executive pay during the financial crisis and its $182.3bn government bailout. Last year’s payouts exceeded the average $25m in pay that the chief executives of the five largest Wall Street banks received. Excluding one-time items, Duperreault made $14.9m after returning to AIG in mid-May, in line with the $15.3m that MetLife chairman and chief executive Steven Kandarian received in 2016 but well below the $27.1m that Prudential Financial chairman and chief executive John Strangfeld was paid.