Hancock denied bonus but gets $5mn for AIG transition

AIG will not pay its outgoing CEO Peter Hancock a cash bonus for
last year after the insurance giant was forced to swallow a number
of significant reserve charges, but he will be paid $5mn for
staying on during a transition period.
In a US Securities and Exchange Commission filing, AIG said that
Hancock would not receive a 2016 short-term incentive award that
could have amounted to $3.2mn, based on the 2015 target amount.
The insurer said the executive could...