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AIG news

News about American International Group (AIG), one of the world’s largest insurance and reinsurance groups.

Our news about AIG includes the companies financial results, new hires, product launches, affiliations and also coverage of its reinsurance operations Validus in Bermuda.

Industry needs to acknowledge new frequency & severity of events: AIG’s Zaffino

8th November 2021

Peter Zaffino, President and Chief Executive Officer (CEO) of global insurer AIG, expects any fourth quarter catastrophe losses to be limited by the company's reinsurance protection, but warns that overall, the industry needs to acknowledge the dramatic shift in the frequency and severity of events. Last week, AIG announced an ... Read the full article

AIG’s net income hits $1.7bn as General Insurance CR strengthens

5th November 2021

Global insurer AIG has announced a significant rise in net income to $1.7 billion for the third quarter of 2021, driven primarily by net realised gains, a strong underwriting result in its General Insurance (GI) unit and lower losses from catastrophes. During the quarter, the firm's GI unit recorded adjusted pre-tax ... Read the full article

AIG closes sale of equity stake in Life & Retirement business to Blackstone

2nd November 2021

The previously announced transaction between American International Group, Inc. (AIG) and Blackstone, which sees the latter acquire a 9.9% equity stake in the former's Life & Retirement business, has now closed. It was announced back in July that the pair had reached an agreement over the sale of a nearly ... Read the full article

AIG makes senior leadership changes

26th October 2021

American International Group (AIG) has made senior leadership changes as part of the separation of the Life & Retirement business. Mark Lyons, currently Executive Vice President and Chief Financial Officer, AIG, will step into a newly created role of Executive Vice President, Global Chief Actuary and Head of Portfolio Management, AIG. In ... Read the full article

Chris Schaper named CEO of AIG’s ILS manager AlphaCat

20th September 2021

Chris Schaper, Chief Executive Officer (CEO) of AIG Re and Validus Re, will assume direct CEO leadership of insurer AIG's insurance-linked securities (ILS) manager, AlphaCat. This appointment aligns all core businesses of AIG's assumed reinsurer directly under the leadership of Schaper. Current CEO of AlphaCat, Paschal Brooks, is set to depart AIG ... Read the full article

European floods will hit reinsurers harder than Ida: AIG’s Zaffino

14th September 2021

AIG Chief Executive Officer (CEO) Peter Zaffino has suggested that the July flooding across Europe will likely “hit the reinsurance market more than Hurricane Ida.” Speaking during an interview as part of a recent KBW virtual insurance conference, Zaffino said that it remains too early to judge what the eventual loss ... Read the full article

AIG names Zaffino as Chairman of the board

8th September 2021

American International Group has appointed Peter Zaffino, current President & Chief Executive Officer, as Chairman of its Board of Directors. As previously announced, Brian Duperreault, currently Executive Chairman, will retire from the Board of Directors at the end of the year. Doug Steenland, Lead Independent Director commented: “The AIG Board of Directors ... Read the full article

AIG adds Ciara Brady as International Casualty CUO

1st September 2021

AIG has appointed Ciara Brady to serve as Chief Underwriting Officer for International Casualty, a role that's effective immediately and sees her succeed the now-retired Patrick Mailloux. Brady joins AIG from Allianz Global Corporate & Specialty in Zurich, where she served as Global Head of Liability since 2019. Prior to her time ... Read the full article

AIG Life & Retirement announces two senior promotions

17th August 2021

AIG Life & Retirement,  a division of global insurer AIG, has appointed Bryan Pinsky as President, Individual Retirement along with Tim Heslin who has been appointed as President, US Life Insurance. Pinsky and Heslin will contine to report directly to Todd Solash, Chief Executive Officer, Individual Retirement and Life Insurance. Pinsky joined ... Read the full article

AIG reports Q2 net income of $91mn; solid GI underwriting result

6th August 2021

American International Group, Inc. (AIG) has reported net income of $91 million for the second quarter of 2021 versus a loss of $7.9 billion a year earlier, supported by a strong underwriting result in General Insurance (GI), lower cat losses, and higher investment income. The main driver of the improvement is ... Read the full article

AIG names Sabra Purtill as EVP, Chief Risk Officer

30th July 2021

Global insurance carrier, American International Group, Inc. (AIG) has announced that Sabra Purtill will serve as Executive Vice President (EVP), Chief Risk Officer (CRO), based in New York. Purtill has been serving as interim CRO for the company since February 2021 and now takes on the position in full, reporting to ... Read the full article

AIG’s Amy Stern take senior reinsurance role at Pie Insurance

20th July 2021

Pie Insurance, an insurtech company specializing in workers' comp insurance for small businesses, has announced several new leadership appointments, which include the addition of Amy Stern as Vice President of Reinsurance and Capital Solutions. Stern previously served as Chief Ceded Reinsurance Officer at AIG. Other appointments included Chris Lankford as VP of ... Read the full article

AIG offloads 9.9% share in its Life & Retirement operation to Blackstone

15th July 2021

American International Group, Inc. (AIG) has reached an agreement with Blackstone over the sale of a 9.9% stake in its Life & Retirement business, and will also sell certain affordable housing assets to Blackstone Real Estate Income Trust (BREIT). Blackstone will acquire an almost 10% stake in AIG's Life & Retirement ... Read the full article

AIG underlines sustainability targets in first ESG report

6th July 2021

Global re/insurer American International Group (AIG) has released its first Environmental, Social and Governance (ESG) report which details its progress toward supporting a more sustainable future for its stakeholders. The report outlines how the company is aligning its sustainability efforts with its core business strategy and describes how AIG identifies, measures ... Read the full article

Prince Charles launches industry-led climate change task force at Lloyd’s

24th June 2021

HRH The Prince of Wales has launched his Sustainable Markets Initiative (SMI) insurance task force today during a visit to Lloyd’s of London. Chaired by Lloyd’s, the task force is composed of executives from many of the world’s largest re/insurers and aims to provide an influential platform for the sector to ... Read the full article

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