Global insurer and reinsurer, American International Group (AIG), has appointed Charlie Fry as Executive Vice President of Reinsurance Purchasing and Risk Capital Optimization.
As of 31 July, Fry will be reporting to Peter Zaffino, AIG’s Chairman & Chief Executive Officer.
He will be responsible for AIG’s reinsurance purchasing strategy and placement execution, as well as optimising capital allocation in AIG’s property casualty business.
Fry will also be working closely with Shane Fitzsimons, AIG’s Executive Vice President & Chief Financial Officer, and Mark Lyons, AIG’s Executive Vice President, Global Chief Actuary and Head of Portfolio Management.
“I am delighted to be rejoining AIG and it is a privilege to work once again with Peter Zaffino.” said Fry. “AIG is a global leader in risk management, and I look forward to working with Peter and the broader AIG team at this exciting stage of the company’s transformation.
AIG is welcoming back Fry after he departed the company in 2020. He first joined AIG in 2017 as Global Head of Reinsurance Strategy and Head of Global Portfolio Management for General Insurance.
After his tenure at AIG, Fry served as Chief Executive Officer of Acacia Holdings Ltd., a Bermuda-based capital investment company.
Prior to that, he served as Group Chief Financial Officer at Novae Group plc, a UK-listed specialty insurer, and, prior to that, was Global Chief Operating Officer at Guy Carpenter.
Additionally, he previously worked with Apax Partners on its investment in Travelex Group and, from 1999 to 2006, Fry was a member of the senior management team of Benfield Group.
Peter Zaffino commented: “I am very pleased to welcome Charlie back to AIG. The continued execution of our reinsurance strategy is essential to our progress toward becoming a top performing company.
“During Charlie’s previous tenure at AIG, he played a key role in AIG’s underwriting turnaround and established a framework for reinsurance purchasing and risk and volatility mitigation efforts across our global portfolio.
“I have worked with Charlie for many years and am confident he will make significant contributions to AIG as we progress our deployment of capital and continue to improve our risk adjusted returns.”