Robert Benmosche, the chief executive of insurance giant AIG, said he is stepping down this weekend after learning he has less than a year to live, the New York Post reported yesterday. Benmosche, who was diagnosed with cancer in 2010, said that he was given nine to 12 months to live in May and is stepping down sooner than planned as his health declines. He is expected to exit in early 2015. The company announced in June that Peter Hancock would succeed Benmosche as president and CEO. Benmosche rose to the top job five years ago after the government bailed out the New York-based insurer to the tune of $85 billion. AIG repaid the bailout funds, while the government made a profit of nearly $23 billion from interest and the sale of its stake in the firm.
