Mike McGavick confirms he will not take the top AIG job

Mike McGavick, CEO of XL Catlin, has said he will not take up the top position at AIG following the resignation of Peter Hancock last week. McGavick joins Greg Chase, Aon CEO, in senior figures who have ruled themselves out of the job. McGavick confirmed to employees that he would remain part of his current company and that staff shouldn’t read into any media speculation that he had been shortlisted. The internal e-mail read, "While such speculation may be viewed as flattering, I thought I would write and make a couple of things clear. I have not been contacted by AIG, and have no knowledge of whether they have an interest in me or not. They will, I am sure, have plenty of excellent candidates to choose from. But I will not be one of them." McGavick is widely credited with being the person who turned the fortunes of XL Catlin around after the financial crisis. He went on to say he was not only committed to the future of XL Catlin but that he was thoroughly enjoying his time leading the company.