AIG's Peter Eastwood leaves

John Doyle, head of AIG's global commercial biz, will assume Eastwood's responsibilities until permanent replacement is named

Peter Eastwood, the chief executive officer of American International Group Inc's Americas property-casualty operation, has left the insurer with three other managers.

John Doyle, head of AIG's global commercial business, will assume Eastwood's responsibilities until a permanent replacement is named, said Matt Gallagher, a spokesman for New York-based AIG. Warren Buffett's Berkshire Hathaway Inc hired Eastwood and three other executives, Insurance Insider reported.

The departures add to vacancies that Peter Hancock, CEO of AIG's property-casualty unit, needs to fill as he seeks to scale back from some capital-intensive lines of coverage and target increased sales of consumer insurance. Jeffrey Hayman, who led global consumer coverage at AIG's property-casualty unit, left in January for Starr International Co.

The insurer dropped $1.61, or 3.8 per cent, to $40.47 at 11:52 am in New York and has gained 15 per cent this year. Omaha, Nebraska-based Berkshire slipped 0.5 per cent, and is up 20 per cent since December 31.