AIG CEO Robert Benmosche, who oversaw much of the company’s recovery from the global financial crisis, intends to leave the post next year.

He will turn 70 at the end of the month.

“Mr Benmosche has stated that he plans to retire in early 2015,” AIG said in a statement. “The AIG board has spent a considerable amount of time on succession planning as it evaluates both internal and external candidates.”

Mr Benmosche joined AIG as President and CEO in August 2009 following an 11-year career with MetLife, where he helmed the transition of the life insurer from a mutual to a public company.

He led the reinstatement of the AIG brand for the global general insurance operations after it was changed to Chartis on concerns the traditional name was tarnished by the crisis bailout.

Meanwhile, AIG has finalised the sale of its aircraft leasing business International Lease Finance Corp in a cash and share deal valued at $US7.6 billion ($8.1 billion).

The move ends an asset sales program triggered by the insurer’s bailout during the global financial crisis.

“This transaction marks the last major disposition of AIG’s non-core assets,” the company said in a statement.

Net cash proceeds to AIG from the sale to AerCap are about $US2.4 billion ($2.6 billion) after the settlement of intercompany loans.

“I am confident this sale will have a positive impact on AIG’s liquidity and credit profile and will enable us to continue to focus on maintaining a strong growth and profitability in our insurance operating business,” Mr Benmosche said.

Previous assets sales include the $US35.5 billion ($37.9 billion) deal in 2010 to divest the AIA Asian life insurance unit.