CEO of the US insurance company UnitedHealthcare has been shot and killed in New York City.

BBC News says Brian Thompson was fatally shot in the chest on Wednesday morning outside the Hilton hotel in Midtown Manhattan.

A suspect fled the scene and remains at large.

The NYPD says officers are hunting for the suspect using drones and canine units.

They are advising New Yorkers to remain alert, however there’s no specific advice to stay away from Central Park or other areas.

Investigators say Thompson, head of the largest private insurer in the United States, appeared to have been targeted in the attack.

He was scheduled to speak at an investor conference later in the day, which has since been cancelled.