Thomas F. Motamed, a director of American International Group Inc since January 2019, is retiring from the company’s board of directors for health reasons.

“On behalf of the board of directors, I want to thank Tom for his leadership and many contributions to AIG over the last few years,” said Peter Zaffino, chairman and chief executive officer.

“On a personal level, I have appreciated Tom’s steady and balanced perspectives regarding AIG’s turnaround and transformation. We wish Tom the very best as he focuses on his own wellbeing and that of his family.”

Mr Motamed was chairman and chief executive officer of CNA Financial Corporation from 2009 until 2016.

Prior to CNA, he spent more than 30 years at The Chubb Corporation, where he rose to vice-chairman and chief operating officer.

Mr Motamed is a past chairman of the Insurance Information Institute and is chair emeritus for Adelphi University.