AIG CEO Says Firm Is Ready for a Breakup After Years of Work

Brian Duperreault has spent more than three years trying to turn around American International Group Inc. Now the insurer’s chief executive officer says the company is ready to be broken up.

“This is largely due to the significant foundational work our team has done across AIG to strengthen our businesses and position them as market leaders,” Duperreault said Friday on a call discussing third-quarter results. “Impediments to a separation that existed back in 2017 have greatly diminished.”

Duperreault and President Peter Zaffino, who will take over as CEO in March, have worked to fix AIG after it struggled for ...