Reinsurance News

AIG appoints Aspen’s Thomas Lillelund as CEO for Europe

9th August 2018 - Author: Matt Sheehan

American International Group has appointed Thomas Lillelund, former Chief Executive Officer (CEO) of Aspen Re, as CEO of its recently authorised European arm, AIG Europe S.A.

AIG flagHeadquartered in Luxembourg, AIG Europe S.A is a new legal entity for AIG’s business in the European Economic Area (EEA) and Switzerland that aims to provide continuity for AIG following the UK’s departure from the European Union (EU).

Lillelund joins AIG from Aspen, where he led its reinsurance operations as CEO. Aspen recently announced that Emil Issavi has been appointed to succeed him in this role.

During his 20-year career, Lillelund has also served as Regional Managing Director of the Asia Pacific region for Aspen Re and as Regional Vice President in Southeast Asia for AIG, in addition to having worked at various other companies across Hong Kong, South Africa, and the U.S.

In his new role, Lillelund will be responsible for AIG’s operations in Continental Europe and Ireland, and will report to Chris Townsend, CEO for International General Insurance at AIG.

Townsend commented: “I’m delighted to welcome Thomas back to AIG as CEO of our European business. Thomas is a well-respected international insurance executive who is a strategic leader with experience growing and building teams.”

Additionally, AIG said that Anthony Baldwin, current CEO of AIG Europe Limited, will become CEO of AIG’s new UK entity, American International Group UK Limited, and will continue to report to Townsend.

AIG plans to transfer all existing business to its new entities in the UK and Luxembourg and merge its existing carrier, AIG Europe Limited, into the new European company to ensure uninterrupted client service following Brexit. Both new companies will begin writing business from 1 December 2018.

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