BUSINESS BRIEFING / INSURANCE

American International Group Inc. named former MetLife Inc. Chairman and CEO Robert Benmosche as its new president and chief executive.

Benmosche, 65, will replace CEO Edward Liddy, former CEO of Allstate Corp., who took over last fall after the government bailed out the New York-based insurer.

In May, Liddy said he would step down from the chairman and CEO roles at AIG. His announcement came at the same time the company said it would split the roles of chairman and chief executive, similar to what many other financial firms have done in recent months. The company has said he would remain chairman until a successor is found.