AIG will consider new ways of using its capital “intelligently”, including buying other companies.

The US insurance giant says it will also slow the pace of its huge share buyback, a strategy favoured by CEO Brian Duperreault’s predecessor Peter Hancock to placate activist shareholders.

“Let’s use the capital intelligently,” Mr Duperreault told reporters after the group’s AGM in New York last week. “The likelihood we can continue the pace of share buybacks is low because I think there are other things I can use the money for.

“I want options, I want choices. I’d love to find great additions to the company.

“Shareholders want to see value creation and if I can present them something that’s a better value creation, I won’t get a hard time.”

Mr Duperreault, who took over as CEO in May, is the seventh person to hold the position since 2005. He started his insurance career at AIG in the 1970s.

Mr Hancock was beset by shareholders unhappy with his restructure of the group and his resistance to selling off subsidiaries.