American International Group is planning to name former company executive Brian Duperreault as chief executive, the Wall Street Journal reported late on Wednesday.
Duperreault and AIG are working out the final details of his employment contract, and an announcement could come as early as Thursday, the Journal reported, citing people familiar with the matter.
Duperreault is the head of Hamilton Insurance Group.
Hamilton Insurance Group did not respond to a Reuters request for comment outside regular business hours. AIG spokesman Jon Diat declined to comment.
AIG CEO Peter Hancock said in March he would step down, a decision taken after the insurer's poor financial performance frustrated shareholders and the board of directors.
Billionaire activist investor Carl Icahn, AIG's fourth-largest shareholder, had cheered Hancock's departure.
Hancock was to remain CEO until AIG named a successor.
(Reporting by Sangameswaran S and Nikhil Subba in Bengaluru; Editing by Sunil Nair and Sai Sachin Ravikumar)