Reinsurance News
17th January 2019
AlphaCat Managers, Ltd., AIG's third-party reinsurance capital and insurance-linked securities (ILS) unit, has announced a new ILS transaction with Ledger Capital Markets, LLC. The transaction relates to the direct securitisation of a non-standard passenger auto insurance portfolio, and brings a new class of business to the ILS investor community. The deal ... Read the full article
16th January 2019
American International Group, Inc. (AIG) has announced that Thomas F. Motamed has been elected to its Board of Directors, effective immediately. Motamed retired from his position as Chairman and Chief Executive Officer (CEO) of CNA Financial Corporation in 2016, a role that he had held since 2009. Prior to this, he spent ... Read the full article
2nd January 2019
American International Group (AIG) has completed its acquisition of Ellipse, a specialist provider of group life risk protection in the UK, from Munich Re. Funded by an undisclosed cash consideration, the purchase was conducted via AIG Life, a UK subsidiary of AIG Life & Retirement. AIG said that Ellipse’s group protection capabilities, ... Read the full article
13th December 2018
Global insurer and reinsurer American International Group (AIG) has appointed Michael Price as Deputy Chief Underwriting Officer (CUO) for General Insurance. He joins AIG from Arch Insurance Group, where he most recently served as its CUO for North America. As AIG's Deputy CUO, Price will work closely with CUO Tom Bolt, Read the full article
13th December 2018
AIG Life Limited (UK), a division of global insurer and reinsurer American International Group, Inc. (AIG), has announced the appointment of Philip Willcock as its new Chief Executive Officer (CEO), effective March 1st, 2019. Willcock will be based in London, and will report to Adam Winslow, CEO, International, Life & Retirement, AIG Life ... Read the full article
10th December 2018
The Chief Executive Officer (CEO) of global insurer and reinsurer American International Group (AIG), Brian Duperreault, has said that a hard market isn't required to fix the company. After reporting a third-quarter net loss, albeit improved on the same period in 2017, AIG's full-year 2018 performance will likely be closely watched ... Read the full article
5th December 2018
Global insurer and reinsurer American International Group (AIG) has announced estimated catastrophe losses of between $750 million and $800 million for the fourth-quarter of 2018, according to the company's Chief Executive Officer (CEO), Brian Duperreault. Speaking at the Goldman Sachs U.S. Financial Services Conference held recently in New York, insurance and ... Read the full article
5th December 2018
American International Group (AIG) has announced the appointments of Mark D. Lyons as Executive Vice President & Chief Financial Officer (CFO) and Sachin N Shah as Chief Executive Officer of Asia Pacific, AIG General Insurance. Lyons, who succeeds Sid Sankaran, will serve on the AIG Executive Leadership Team and will report ... Read the full article
30th November 2018
Moody’s has assigned A2 insurance financial strength (IFS) ratings and stable outlooks to American International Group’s (AIG) new post-Brexit European carriers, AIG UK Limited and Luxembourg-based AIG Europe S.A. (AESA). AIG recently formed these units in order to ensure continuity of service for it its European policyholders and business partners once ... Read the full article
14th November 2018
American International Group (AIG) has created a new run-off reinsurer called Fortitude Re in collaboration with global alternative asset manager The Carlyle Group. The companies announced in August 2018 that they had entered into a partnership to build AIG’s Bermudian legacy reinsurance platform, DSA Re (now Fortitude Re), into a ... Read the full article
14th November 2018
Global insurer American International Group is to provide improved disclosures regarding its use of reinsurance to mitigate losses in its property and casualty unit, following a request to do so by The U.S Securities and Exchange Commission, according to Reuters. SEC staff reportedly asked AIG to add information that includes details ... Read the full article
7th November 2018
Global insurer American International Group (AIG) has completed its acquisition of full-service broker and insurance company Glatfelter Insurance Group. The transaction, which was first announced in September 2018, has closed following receipt of regulatory approvals and satisfaction of other closing conditions. AIG said that it plans to utilise Glatfelter’s specialty programs ... Read the full article
7th November 2018
Insurance giant American International Group (AIG) has said that it is winding down all underwriting activities in Iran, that was undertaken by Validus and AIG entities, due to the imposition of U.S. sanctions against the country. AIG acquired the Validus global insurance and reinsurance business recently and it included some underwriting ... Read the full article
2nd November 2018
Insurance giant American International Group (AIG) experienced high catastrophe losses in the third-quarter from its operations in Japan, and has revealed that it's working to reorganise its Japanese reinsurance program into a single structure for 2019, in order to reduce both frequency and severity exposure. Yesterday, the firm announced a ... Read the full article
1st November 2018
Insurance giant American International Group (AIG) has reported a net, albeit smaller loss in the third-quarter of 2018, of $1.3 billion as a result of significant catastrophe losses. However, the insurer's underwriting loss did narrow year-on-year thanks to reinsurance. AIG's $1.3 billion net loss compares to a $1.7 billion net loss ... Read the full article
