(Updates with CEO’s pay in the fifth paragraph.)
March 31 (Bloomberg) -- American International Group Inc. said an adult child of Chief Executive Officer Robert Benmosche received compensation of $102,549 for less than half a year with the insurer.
The son joined in September and his pay was “determined in accordance with our standard employment and compensation practices applicable to employees with similar responsibilities,” the New York-based company said today in a proxy statement.
AIG reported the compensation in a section about “relationships and related-party transactions.” A preliminary filing on March 13 disclosed the hiring without including the pay.
The son has a real-estate role, Jon Diat, a spokesman for the company, said March 13. He declined to comment further today.
The CEO’s total compensation was about $14.8 million last year, including a $2.3 million salary. AIG is the largest commercial insurer in the U.S. and Canada.
AIG Boosts Dividend, Buybacks as CEO Benmosche Eliminates Jobs NSN N0YS0D6TTDS1 <GO> AIG management: AIG US <Equity> MGMT <GO> AIG total returns: AIG US <Equity> TRA <GO> Top insurance news: TINS <GO>