Insurance giant AIG has poached Tom Bolt from his most recent role as President, UK and Southern Europe, Berkshire Hathaway Specialty Insurance Company (BHSI) to join the insurer as Chief Underwriting Officer, General Insurance.
Bolt, who prior to Berkshire Hathaway was the director of performance management at Lloyd’s of London, will join AIG in a role that will see him tasked to develop a global framework for underwriting standards, authority and structure, aligned with AIG’s overall risk appetite.
Bolt will report to Peter Zaffino, Chief Executive Officer, General Insurance, and take a position within the AIG General Insurance Executive Leadership Team. Bolt is expected to join the company in January 2018.
“I am very pleased to welcome Tom to AIG,” explained Zaffino. “He is an exceptionally talented leader with deep industry expertise and a proven track record of delivering outstanding financial and operational performance. Tom will bring strong discipline to our underwriting and pricing decisions and will play a key role in building AIG’s data and analytical capabilities to empower our underwriters. I look forward to working with Tom to drive General Insurance’s underwriting strategy and position it for profitable growth.”
Bolt added, “I am excited to be joining AIG at such a pivotal time in its history. I look forward to working with Peter and the General Insurance Executive Leadership Team to define consistent, global underwriting standards that achieve a well-balanced portfolio and deliver strong and sustainable financial performance.”
Before his time as performance management director at Lloyd’s Bolt was the Managing Director of Marlborough Managing Agency. Before that he had spent 25 years at Berkshire Hathaway in a range of senior executive roles.
