NEW YORK (AP) — UnitedHealthcare CEO Brian Thompson was killed Wednesday morning in what investigators suspect was a targeted shooting outside a Manhattan hotel where the health insurer was holding an investor conference.

New York Gov. Kathy Hochul called it a “horrific and targeted shooting.” New York City Mayor Eric Adams said, “This was not what appears to be a just random act of violence.”

Thompson, 50, was set to speak at an investor meeting when he was gunned down around 6:45 a.m. outside the New York Hilton Midtown by a shooter who fled on a bicycle, according to the New York Police Department.

Thompson was taken to a hospital but could not be saved. Police were still searching for the shooter as of mid-morning and no arrests had been made.

Adams said police were reviewing evidence from the scene, including video.

“It seems to be clearly targeted by an individual and we will apprehend that individual,” Adams said.

UnitedHealthcare is the insurance arm of the health care giant UnitedHealth Group Inc. The Minnetonka, Minnesota-based company was scheduled to have its annual meeting with investors in New York City to update Wall Street on the company’s direction and expectations for the coming year, according to a company media advisory. An announcement was made to attendees Wednesday morning that the conference was ending early.

The Hilton is in a bustling part of Manhattan, a short walk from tourist sites such as the Museum of Modern Art and Rockefeller Center, and often dense with tourists and office workers on weekday mornings. The popular Rockefeller Center Christmas Tree lighting is set to take place Wednesday evening.

Part of the block where the shooting took place was cordoned off with police tape, with a large contingent of police officers at the scene. Many security cameras are nearby.

Thompson had served as CEO for more than three years and had been with the company since 2004.

Minnesota Gov. Tim Walz tweeted that the state is “sending our prayers to Brian’s family and the UnitedHealthcare team.”

“This is horrifying news and a terrible loss for the business and health care community in Minnesota,” the Democrat wrote.

UnitedHealthcare is the largest provider of Medicare Advantage plans in the U.S. and manages health insurance coverage for employers and state-and federally funded Medicaid programs.

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Associated Press writers Tom Murphy in Indianapolis and Steve Karnowski in St. Paul, Minn., contributed to this story.

Jake Offenhartz And Karen Matthews, The Associated Press