Reinsurance News
9th August 2019
Global insurer AIG expects to record an underwriting profit for the full-year 2019 as its General Insurance business continued to rebound in Q2 on the back of a "refined" underwriting approach, supported by the firm's evolving reinsurance use. The firm's net income increased to $1.1 billion in Q2 2019 with ... Read the full article
8th August 2019
Global insurer AIG has posted a Q2 net income of $1.1 billion, up from $937 million in the prior year quarter, driven by "expense discipline, and reinsurance actions" within its general insurance segment, according to President and Chief Executive Officer, Brian Duperreault. With a combined ratio (CR) of 97.8%, general insurance ... Read the full article
24th July 2019
American International Group, Inc. (AIG) has announced the appointment of Jennifer Waldner to the newly created role of Chief Sustainability Officer. Waldner will lead the development and implementation of a company-wide sustainability strategy, reporting to Thomas B. Leonardi, AIG’s Executive Vice President and Vice Chair, AIG Life Holdings, Inc. For the past ... Read the full article
19th July 2019
Global insurer and reinsurer AIG has hired James Love from Goldman Sachs as its new Global Head of Real Estate, effective August 6th, 2019. Based in New York, Love will report to AIG's Global Chief Operating Officer (COO) and Chief Executive Officer (CEO) of General Insurance, Peter Zaffino. In his new role, ... Read the full article
2nd July 2019
AIG Life & Retirement, a division of AIG, has promoted Todd Solash as Chief Executive Officer (CEO) of its Individual Retirement business, and Rob Scheinerman as CEO of AIG Retirement Services, its Group Retirement business. The appointments of Solash and Scheinerman, who were each previously President of their respective units, follow ... Read the full article
28th June 2019
American International Group (AIG) has announced the appointment of Shane Fitzsimons to the newly created role of Global Head of Shared Services, effective July 1. Fitzsimons joins AIG from Indian multinational conglomerate TATA Group, where he served as Group Synergy Officer. Prior to this he spent 20 years at GE in operational ... Read the full article
20th June 2019
Insurance and reinsurance market Lloyd's of London is conducting talks with major insurer insurers such as Chubb and AIG as it looks to further boost its growth in the U.S, according to reports Reuters. CEO John Neal told the publication that Lloyd’s was discussing potential opportunities for the insurers to sell ... Read the full article
20th June 2019
American International Group, Inc (AIG) has announced the consolidation of its assumed reinsurance operations, resulting in the establishment of global business AIG Re. The global re/insurer has consolidated the assumed reinsurance operations of Validus Re, AlphaCat, and Talbot Treaty into one global reinsurance business, called AIG Re. At the same time, the ... Read the full article
13th June 2019
Global insurer AIG has highlighted an increase in both the frequency and severity of Warranty & Indemnity (W&I) claims across the globe, while the driver of claims notifications remains unchanged. For deals between $400 million and $1 billion, AIG notes that claims notification frequency has increased by 26%, but remained steady ... Read the full article
10th June 2019
Global insurer American International Group (AIG) has announced the appointment of John Cusano as Chief Business & Technology Operations Officer, effective July 1. Cusano, who joins from Accenture having held a number of leadership positions in the company, has over 30 years’ experience and has demonstrated a successful track record of ... Read the full article
6th June 2019
AIG subsidiary Blackboard Insurance has brought in Uwe Schoberth to focus on market relationships and bolster the company’s expanding go-to-market strategy. Schoberth, who joins from QBE Group, will apply his background in the commercial insurance industry to enhance Blackboard’s connection with brokers in this market to help clients better manage risks ... Read the full article
6th June 2019
Insurer and reinsurer AIG has appointed Validus Re Chief Executive Officer (CEO), Kean Driscoll, Global Chief Underwriting Officer (CUO) for Property and Agriculture, General Insurance. At the same time, Alexander Baugh has been named Global CUO for Casualty and Financial Lines, General Insurance. Both appointments are effective immediately, and in these ... Read the full article
5th June 2019
American International Group, Inc. has announced the promotion of David McElroy to President and Chief Executive Officer (CEO) of the North America operations of General Insurance, taking over from Lex Baugh. McElroy, who first joined AIG in October 2018, previously served as President and CEO of Lexington, a surplus lines ... Read the full article
30th May 2019
AIG-owned reinsurer, Talbot Underwriting is to close its office in Australia and also its Lloyd's China unit and will now service its renewals through its Singapore and London branches. Talbot has said that it is to combine its regional underwriting capabilities into a single hub domiciled in Singapore, which it states ... Read the full article
17th May 2019
Global primary insurance giant AIG is actively working on some kind of a sale or deconsolidation of the legacy book and run-off play Fortitude Re, as it seeks to go further than a simple separation of the start-ups operating model from the parent. AIG officially launched the legacy and run-off ... Read the full article
