Michael Castelli, AIG's chief administrative officer and senior vice president since January 2005, has been put on leave.
The insurer also announced a major executive shake-up in the light of the ongoing probes by the US authorities.
Martin Sullivan, AIG's president and chief executive, has replaced Frank Zarb as chairman of the executive committee panel, and Zarb has been named interim chairman of
the group.
Two new directors have been elected to AIG's board: George Miles, president and chief executive of WQED Multimedia, and Morris Offit, co-chief executive of Offit Hall Capital Management.
The insurer's board has also established two new committees: a regulatory, compliance and legal committee, and a public policy and social responsibility committee.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
