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Reinsurance News
14th February 2020
Global insurer and reinsurer AIG continued to refine and enhance its reinsurance buying strategy at the recent Jan 1st, 2020 renewals, securing an improved catastrophe reinsurance program at a lower cost when compared with the previous year. In recent times, AIG has made some significant changes to its use of ... Read the full article
13th February 2020
American International Group, Inc. (AIG) has announced significantly improved net income of USD 922 million for the fourth-quarter of 2019, driven by the performance of its General Insurance underwriting, reinsurance actions, favourable prior year development, lower cat losses, and higher investment income. Q4 net income of USD 922 million is a ... Read the full article
29th January 2020
The potential impact of the Coronavirus on insurer AIG appears to be fairly low despite the company’s considerable exposure to pandemic risk and its high share in the Chinese P&C market, according to Credit Suisse. However, analysts cautioned that they were “not highly confident” in their assessment, given AIG’s evolving global ... Read the full article
22nd January 2020
Brian Duperreault, the President and Chief Executive Officer (CEO) of insurance giant AIG, has said that mandating insurance protection for catastrophes is "maybe something that the government could enable." The insurance industry expert made the comment on a panel during the annual World Economic Forum (WEF) in Davos, Switzerland. The panel ... Read the full article
9th January 2020
The Financial Times has reported that re/insurance giant AIG, life insurer Prudential Financial and asset manager Principal Financial Group were among the companies interested in acquiring U.S. retirement plan provider, Voya Financial. According to people briefed on the matter, says the Financial Times, Voya held discussions with AIG, Prudential, Principal Financial ... Read the full article
9th January 2020
Varagon Capital Partners, a direct lender to middle market companies, has entered into a definitive agreement to establish a strategic partnership with Aflac Global Investments, and has also extended its existing partnership with insurer and reinsurer, AIG. AIG has been an anchor investor and client of Varagon since 2014 and has ... Read the full article
18th December 2019
American International Group, Inc. (AIG) has announced the appointment of Peter S. Zaffino as President of the company, effective from January 1, 2020. Zaffino currently serves as Global Chief Operating Officer (COO) of AIG and as Chief Executive Officer (CEO) of General Insurance. AIG explained that he will continue to serve in ... Read the full article
13th December 2019
Despite the recent impacts of catastrophe events in Japan, executives at insurer and reinsurer AIG expect the region's market to rebound and adjust to the recent and complex spate of typhoons. Highlighted by the most recent devastation caused by typhoon Hagibis, the catastrophe experience in Japan over the last 18 months ... Read the full article
11th December 2019
Peter Zaffino, the Global Chief Operating Officer (COO) and Chief Executive Officer (CEO) of General Insurance at AIG, expects property and casualty (P&C) market dynamics to drive heightened discipline across the space in 2020. Zaffino, alongside AIG President and CEO Brian Duperreault and Mark Lyons, Chief Financial Officer (CFO), recently discussed ... Read the full article
28th November 2019
Global insurer AIG’s Long-Term Issuer Credit Rating of “bbb”, as well as the Financial Strength Ratings and the Long-Term ICRs of its operating subsidiaries, remain unchanged by AM Best following the decision to offload Fortitude Re in a transaction the ratings agency describes as incrementally positive for the group. AIG ... Read the full article
26th November 2019
The Carlyle Group and T&D Holdings have partnered to acquire a 76.6% ownership interest in Fortitude Re, the run-off reinsurer launched by AIG and Carlyle in November 2018. Valued at $1.8 billion, the deal will leave Carlyle with a 71.5% stake in Fortitude Re (including the 19.9% stake it took ... Read the full article
19th November 2019
Insurance giant AIG has appointed Allison Barrett global head of multinational, general insurance. Barrett joins on December 9 and will be based out of the firm’s New York office, reporting to Michael Price, head of global service businesses & global Chief Operating Officer, general insurance. She joins from Willis Towers Watson, having ... Read the full article
24th October 2019
State Farm and Berkshire Hathaway Specialty Insurance maintained their spots as the largest and second-largest U.S. Property and Casualty (P&C) writers in 2018, respectively, while Chubb INA Group entered the top ten. This is according to the Reinsurance News directory of the Top 100 U.S. P&C ... Read the full article
23rd October 2019
American International Group, Inc. (AIG) has announced the launch of Syndicate 2019, a new Lloyd's of London syndicate designed to serve the specialist US high net worth market, subject to regulatory approval. Syndicate 2019 will be managed by Talbot Underwriting Limited, the MGA AIG acquired last year, and will start ... Read the full article
15th October 2019
Typhoon Hagibis, which devasted the east coast of Japan over the weekend, could exhaust the catastrophe allowance of American International Group, Inc. (AIG) in Japan, according to analysts at Credit Suisse. The firm noted that AIG has likely already used its Japan $550 million excess of $200 million occurrence coverage ... Read the full article
