Reinsurance News


AIG life operations may require $3bn extra capital, stress test shows

25th March 2020

New stress tests from Goldman Sachs show that AIG’s life entities could require a capital infusion of up to $3 billion from the holding company, if the coronavirus (COVID-19) outbreak results in major financial market pressures. Analysts felt that the preferred funding options for such a scenario would be a suspension ... Read the full article

Guy Carpenter hires Williams from AIG as Global Head of Client Support Services

25th March 2020

Reinsurance broker Guy Carpenter has hired an AIG alum as its new Global Head of Client Support Services, appointing George Williams to the role, who was most recently COO of General Insurance North America at the insurance firm. Williams has been appointed as Managing Director, Global Head of Client Support Services ... Read the full article

AIG hires Gero Michel as Head of Risk Analytics, AIG Re

24th March 2020

U.S. insurer and reinsurer American International Group, Inc. (AIG) has hired Gero Michel, who was most recently at broker Aon, as its new Head of Risk Analytics for its reinsurance unit AIG Re. Gero Michel joined AIG Re in February, taking on the new position that will see him working across ... Read the full article

AIG’s Blackboard secures approval in Virginia

4th March 2020

AIG subsidiary Blackboard Insurance has received approval to operate its commercial insurance package in Virginia, expanding the list of approved states and territories to 47. Blackboard was formed in 2017 when AIG opted to rebrand a newly purchased US technology-focused firm. The Blackboard vision is to reimagine commercial insurance through digital technology, ... Read the full article

AIG names Jon Hancock of Lloyd’s as CEO, International General Insurance

27th February 2020

Jon Hancock, who since 2016 served as Director of Performance Management at Lloyd's of London, has been appointed as the Chief Executive Officer (CEO) of International General Insurance at AIG, effective spring 2020. The specialist Lloyd's of London insurance and reinsurance marketplace announced in January that Hancock was to step ... Read the full article

AIG enters into $500mn share buyback with Citibank

25th February 2020

U.S. insurer and reinsurer AIG has announced that it has entered into an accelerated share repurchase (ASR) arrangement with Citibank, N.A. to repurchase $500 million of the company's common shares. In February of last year, AIG announced its existing $2 billion share repurchase authorisation, and this latest ASR is part of ... Read the full article

AIG continued to refine & enhance reinsurance use at 1/1

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

AIG benefits from favourable reserve development & investments in Q4

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

Coronavirus a low-risk threat for AIG, says Credit Suisse

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

Government could mandate catastrophe insurance: AIG’s Duperreault at Davos

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

AIG, Prudential & Principal reportedly discussed Voya takeover

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

Aflac joins, AIG extends strategic partnership with Varagon Capital Partners

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

Peter Zaffino takes President role at AIG

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

Japanese market to rebound despite complicated losses: AIG’s Zaffino

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

AIG’s Peter Zaffino sees a more disciplined P&C market in 2020

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

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.