Reinsurance News

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.

AIG general insurance combined ratio falls below 90% for first time in 15 years

9th August 2022

AIG is reporting that it general insurance combined ratio improved by 5.1 points in Q2 2022, compared to the same period in 2021. The firm said in a statement that this was its first sub-90% combined ratio in a decade-and-a-half. Meanwhile, its general insurance adjusted accident year combined ratio improved over ... Read the full article

AIG hires Charlie Fry as EVP, Reinsurance Purchasing & Risk Capital Optimization

25th July 2022

Global insurer and reinsurer, American International Group (AIG), has appointed Charlie Fry as Executive Vice President of Reinsurance Purchasing and Risk Capital Optimization. As of 31 July, Fry will be reporting to Peter Zaffino, AIG’s Chairman & Chief Executive Officer. He will be responsible for AIG’s reinsurance purchasing strategy and placement execution, ... Read the full article

Stranded aircraft lessor brings $3.5bn lawsuit against AIG

14th July 2022

Aercap, the largest global aircraft leasing firm, has sued AIG and other insurers including Lloyd's business Atrium over planes stranded following the outbreak of conflict between Russia and Ukraine, according to reports from City A.M. The lawsuit follows a $3.5 billion all-risk claim filed in March over aircraft lost in Russia, ... Read the full article

Jesse DeCouto promoted to CUO of Validus Re

7th June 2022

Validus Re, the Bermuda headquartered reinsurance underwriting arm of AIG, has a new Chief Underwriting Officer (CUO) in Jesse DeCouto, according to a company memo seen by Reinsurance News. DeCouto, who most recently served as Executive Vice President, Head of Specialty and Credit at Validus Re, will also continue to lead ... Read the full article

AIG sees improvement in GI underwriting results as combined ratio strengthens

4th May 2022

American International Group, Inc. (AIG) has reported pre-tax income of $1.2 billion within its General Insurance (GI) business for the first-quarter of 2022, which reflects a $373 million improvement in underwriting income on the back of a stronger combined ratio. AIG's GI segment has recorded an underwriting gain of $446 million ... Read the full article

AIG names Tom Bolt as Chief Risk Officer, Driscoll becomes CUO GI

12th April 2022

American International Group (AIG) has appointed Tom Bolt as Executive Vice President (EVP) and Chief Risk Officer, succeeding Sabra Purtill, who was recently named EVP and Chief Investment Officer for AIG’s Life & Retirement business. Bolt will report to Peter Zaffino, Chairman & Chief Executive Officer, and has joined the ... Read the full article

AIG names Sabra Purtill EVP & Chief Investment Officer for Life & Retirement

12th April 2022

Global insurer and reinsurer, American International Group (AIG) has appointed Sabra Purtill to Executive Vice President and Chief Investment Officer for its Life & Retirement business, effective immediately. Within her new role, Purtill will report to Executive Vice President, Chief Executive Officer of Life & Retirement, Kevin Hogan. In addition to her ... Read the full article

Allianz latest to rule out insuring East African Crude Oil Pipeline

11th April 2022

Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article

AIG’s newly rebranded Corebridge gets ratings from Moody’s

1st April 2022

Corebridge Financial, the recently rebranded Life & Retirement business of AIG, has been assigned a Baa2 long-term issuer rating by Moody's, and has had the A2 insurance financial strength ratings of its life insurance subsidiaries affirmed, with all ratings carrying a stable outlook. Corebridge is an intermediate holding company that ... Read the full article

AIG rebrands Life & Retirement as Corebridge Financial

30th March 2022

AIG plans to rebrand the parent company of its Life & Retirement business as Corebridge Financial. The company is currently known as SAFG Retirement Services but is about to be turned public, at which point the rebranding will take place. The firm has also named the board of directors for Corebridge ... Read the full article

AIG and BlackRock go into partnership

28th March 2022

AIG and BlackRock are going into partnership based on the management by the latter of certain liquid fixed income and private placement assets. A statement from the companies says that the arrangements contemplate BlackRock managing up to $60bn of the global AIG investment portfolio and up to $90bn of the Life ... Read the full article

AIG adds former GE exec John Rice to Board

17th March 2022

Global insurer and reinsurer AIG has announced the addition of John Rice to its Board of Directors, effective March 17, 2022. Rice is the retired Chairman of GE Gas Power and former President and Chief Executive Officer of the GE Global Growth Organization. His extensive background includes various leadership positions with General ... Read the full article

AIG appoints new chief procurement officer

4th March 2022

American International Group (AIG) has promoted Jeanne Edwards to be its new chief procurement officer. In her new role, Edwards will be responsible for the overall strategy and performance of all purchasing and vendor services across AIG. She will report to Shane Fitzsimons, executive vice president and CFO of AIG. In a ... Read the full article

AIG targets net zero GHG emissions across underwriting & investments by 2050

1st March 2022

Global insurer and reinsurer AIG has committed to achieving net zero greenhouse gas (GHG) emissions across its underwriting and investment portfolios by 2050, or sooner. This announcement from AIG follows the carrier's commitment to achieve net zero GHG emissions by 2050, or sooner, within its own operations. The company says that it's ... Read the full article

AIG ‘very pleased’ with core reinsurance placements at Jan 1: CEO Zaffino

17th February 2022

The Chairman and Chief Executive Officer (CEO) of global insurer AIG, Peter Zaffino, said today that the carrier is "very pleased" with the outcome of its core reinsurance placements at the January 1st, 2022 renewals, despite limited retrocessional and other capacity issues. AIG has been evolving its use of reinsurance for ... Read the full article