Peter Zaffino, a distinguished figure in the insurance sector, currently holds the prestigious positions of Chairman and CEO at American International Group, Inc. (AIG). With a career spanning over three decades, Zaffino has demonstrated exceptional leadership and a profound understanding of the insurance and reinsurance landscape.

Born in 1967, Zaffino's early exposure to the industry came from his father, Salvatore D. Zaffino, who served as the chairman of Guy Carpenter & Company. This familial connection sparked a lifelong passion for insurance. Zaffino pursued a BA in economics at Boston College, where he also excelled on the soccer field. His academic journey continued with an MBA in finance from New York University's Leonard N. Stern School of Business, solidifying his expertise in financial management within the insurance realm.

Become a Subscriber

Please purchase a subscription to continue reading this article.

Subscribe Now

Zaffino's career trajectory commenced at The Hartford, and he swiftly ascended the ranks, showcasing his commitment to the field. His pivotal role at GE Capital's alternative risk insurance and reinsurance portfolio company further honed his skills, setting the stage for his future successes.

Furthermore in 2001, Zaffino joined Guy Carpenter & Company, a global risk and reinsurance firm, marking a significant milestone in his professional journey. Over the years, he held pivotal positions within the company, including head of global specialty practices and executive vice president. His transformative leadership culminated in his appointment as CEO and president of Guy Carpenter in 2008, where he orchestrated a series of strategic moves that bolstered the company's profitability and market standing.

Zaffino's contributions to the Marsh & McLennan Companies consortium were equally commendable. In 2011, he assumed the role of president and CEO of Marsh, Inc., a renowned global insurance brokerage and risk management organization. Under his guidance, Marsh underwent significant expansions and technological innovations, further enhancing its service offerings.

In 2015, he was entrusted with the position of Chairman for Marsh and Guy Carpenter's Risk & Insurance Services segment, solidifying his status as a key figure within the organization. His global expertise led him to advise enterprises across 130 countries, exemplifying his far-reaching influence.

Since August 2017, Zaffino has been the Executive Vice President and Worldwide COO of AIG, steering the company's operations across the globe. His visionary leadership played a pivotal role in AIG's transformative initiative, "AIG 200," aimed at modernizing and enhancing operational efficiency.

Beyond his professional endeavors, he is actively involved in philanthropic pursuits. He serves on the boards of the Michael J. Fox Foundation for Parkinson's Research and the New York Police and Fire Widows' and Children's Benefit Fund, showcasing his commitment to giving back to the community.

In his personal life, Zaffino, along with his wife Kirsten, resides in New York, cherishing moments with their three children. His balanced approach to work and family reflects his unwavering dedication to both personal and professional spheres.

His transformative impact on companies like Guy Carpenter and AIG has solidified his status as a luminary in the field. With a legacy of innovation and strategic acumen, Zaffino continues to shape the future of the insurance sector.