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 takes over as lead insurer for Air India program
12th May 2023
Tata AIG General Insurance Company, the Indian joint venture of Tata and AIG, has been selected as the new lead insurer for Air India’s account, according to reports from The Indian Express. The publication reports that New India Assurance had been the lead insurer for the account of Air India for ... Read the full article
Validus Re premiums up 40%. Significant rate increases expected in June: AIG CEO Zaffino
5th May 2023
Validus Re, the Bermuda headquartered global reinsurance arm of American International Group (AIG), grew its gross premiums written by an impressive 40% in the first-quarter of 2023, CEO Peter Zaffino explained today. Speaking during the AIG earnings call today, AIG CEO Zaffino explained that the reinsurance business has been growing strongly, ... Read the full article
AIG reports a GI combined ratio of 91.9% for Q1
5th May 2023
AIG has released strong Q1 financial results for 2023, with its General Insurance segment posting a combined ratio of 91.9%, improving by 1.0 points from the prior year quarter. The accident year combined ratio, ex-CAT, was 88.7%, so a 100-basis point and 80-basis point improvement, respectively, from the previous year's ... Read the full article
AFG to buy AIG’s Crop Risk Services unit for $240 million
3rd May 2023
American Financial Group (AFG) has entered into an agreement to purchase primary crop insurance general agent Crop Risk Services (CRS) from AIG. CRS is based in Decatur, Illinois, and is the seventh largest provider of multi-peril crop insurance in the United States, based on 2022 premiums. Under the terms of the transaction, ... Read the full article
AIG finalises agreement with Stone Point to launch high net worth MGA
27th April 2023
American International Group (AIG) has announced that it has finalized its agreement with funds managed by Stone Point Capital to form Private Client Select Insurance Services (PCS), an independent Managing General Agency (MGA) to serve High Net Worth and Ultra High Net Worth markets. Stone Point is a private equity firm ... Read the full article
AIG hires Colahan as Regional President for Asia Pacific
13th April 2023
American International Group (AIG) has appointed Chris Colahan as Regional President, AIG Asia Pacific. Colahan will join the firm during the second quarter of 2023, and he will report to Jon Hancock, Chief Executive Officer of AIG’s International General Insurance business. Colahan will be taking over the role from current Regional President, ... Read the full article
Fitch views RGA’s market position ‘favourably’
11th April 2023
Fitch Ratings views the Reinsurance Group of America’s (RGA) entrenched market position and long track record in the global reinsurance market "favourably". This news follows Fitch's outlook revision for RGA to positive from stable. Fitch said that this outlook revision reflects RGA’s business profile improvement as the largest provider of ... Read the full article
Talbot Underwriting promotes Roddis to Head of Professional Indemnity
6th April 2023
AIG-owned re/insurer, Talbot Underwriting has promoted Mark Roddis to the newly created position of Head of Professional Indemnity. Based in London, Roddis joined the firm in 2021 and took on the role of Professional Indemnity Class Underwriter. Since he has been with the company, Roddis has played a significant role in growing Talbot ... Read the full article
AIG announces Jurgensen to retire from Board of Directors
14th March 2023
American International Group (AIG) has announced that William G. (Jerry) Jurgensen has decided to retire from the AIG Board of Directors and will not stand for re-election at the company’s 2023 Annual Meeting in May. Jurgensen has served on the AIG Board of Directors since 2013. He is the former Chief ... Read the full article
AIG names Nasr as Senior Property Underwriter, FAC Reinsurance, GCC & North Africa
1st March 2023
Global re/insurer AIG has appointed Rana Nasr as Senior Property Underwriter - FAC Reinsurance, GCC & North Africa. Nasr joins AIG from Active Capital Reinsurance, Ltd., where she served as regional representative & property underwriter. Prior to that role, she spent over three years working at Chedid Capital, a leading investment group ... Read the full article
AIG’s Board elects two new independent Directors
27th February 2023
American International Group (AIG), a leading global insurance organisation, has announced that its Board of Directors has elected Diana Murphy and Vanessa Wittman as independent Directors of the company. Both appointments are effective March 16, 2023. An experienced veteran within the industry, Murphy has served as a Managing Director at private equity ... Read the full article
AIG to increase Validus Re investment after “compelling” 1/1: CEO Zaffino
17th February 2023
AIG Chairman and Chief Executive Officer (CEO) Peter Zaffino has said that his company plans to “increase investment” in its assumed reinsurance business in 2023, particularly through Validus Re, following a “compelling” January renewal period. Speaking during an earnings call this week, Zaffino noted that AIG via its reinsurance units was ... Read the full article
AIG’s reinsurance spend up by less than 10% at “successful” renewal: CEO Zaffino
16th February 2023
AIG Chairman and Chief Executive Officer (CEO) Peter Zaffino has disclosed details of his company’s experience at the recent January reinsurance renewal period, which he says proved “exceptionally successful” given challenging market conditions. Specifically, he says AIG increased its overall spend by “less than 10%” on an absolute and risk adjusted ... Read the full article
AIG’s General Insurance arm delivers strongest ever underwriting profit in 2022
16th February 2023
Global re/insurer AIG has achieved record underwriting profitability within its General Insurance (GI) division for the full year 2022 to $2 billion, which alongside net realized gains on Fortitude Re funds withheld embedded derivative, contributed to a rise in net income to $10.2 billion for the year. At the same time, ... Read the full article
AIG partners with Stone Point to launch high net worth MGA
14th February 2023
Global insurer and reinsurer AIG and Stone Point Capital, a re/insurance focused private equity firm, have entered into an agreement to establish an independent Managing General Agency (MGA) to serve the high net worth and ultra-high net work markets. Under this binding memorandum of understanding, AIG's Private Client Group (PCG) business ... Read the full article
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