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 cat losses a “concern” with Q4 still looming: Goldman Sachs

24th October 2018

American International Group’s consolidated year-to-date (YTD) catastrophe losses are already 81% higher than its full year expected average annual loss (AAL), raising concerns over the efficacy of the company's reinsurance program, according to Goldman Sachs. AIG expects between $1.5 billion and $1.7 billion in cat losses for the third quarter (double ... Read the full article

AIG expects up to $1.7 billion of third-quarter catastrophe losses

19th October 2018

Global insurance and reinsurance firm American International Group (AIG) has pre-announced that it expects to suffer between $1.5 billion and $1.7 billion of catastrophe losses from third-quarter events. The Q3 loss total will have caused AIG to call on some of its reinsurance partners for support. As we explained recently AIG ... Read the full article

Making better decisions with better data key to the future of insurance: Brian Duperreault

10th October 2018

Brian Duperreault, the President and Chief Executive Officer (CEO) of American International Group (AIG), believes that making better decisions with better data is key to the future of the insurance industry. Speaking with Toni Waterman on the inaugural business show launched by Bermuda Broadcasting, called The Breakdown, Duperreault discussed blockchain and ... Read the full article

High Q3 losses could see AIG call on aggregate reinsurance cover: Analysts

5th October 2018

Global insurer American International Group (AIG) has roughly $125 million of net potential H218 qualifying severe losses before its aggregate reinsurance coverage is triggered, according to data from investment banking firm Keefe, Bruyette & Woods (KBW). Of the firm’s $428 million H118 severe losses, $290 million counts towards its loss aggregate ... Read the full article

AIG to acquire Glatfelter Insurance Group

21st September 2018

Global insurer American International Group is to acquire the full-service broker and insurance company Glatfelter Insurance Group. While terms were not disclosed, the transaction is expected to close in the fourth quarter of 2018. AIG hopes acquisition of a firm with high-quality program underwriting capabilities deal will accelerate the strategic positioning ... Read the full article

Warranty and indemnity claims now a constant feature of M&A: AIG

18th September 2018

Warranty and indemnity (W&I) insurance claims are likely to be a constant feature in mergers and acquisitions (M&A) deals going forward, with almost one in five policies receiving a claim notification this year, according to analysis by AIG. The company’s third annual W&I report looks at claims arising from AIG policies ... Read the full article

AIG needs to be a disciplined taker of risk: Brian Duperreault

12th September 2018

AIG CEO Brian Duperreault spoke at the annual PwC briefing in Monte Carlo yesterday, saying that discipline needs to be at the heart of everything AIG does. Duperreault took the reins at AIG after the insurer had years of issues, leaving the seasoned CEO with a job to do. In his speech ... Read the full article

AIG appoints John Repko as Chief Information Officer

21st August 2018

American International Group (AIG) has appointed John P. Repko as its new Executive Vice President, Chief Information Officer, effective September 4, 2018. He succeeds Martha Gallo, who is leaving AIG to pursue other interests, and will report to Brian Duperreault, President and Chief Executive Officer (CEO) of AIG. Repko will also serve ... Read the full article

AIG launches suite of app-based travel solutions

10th August 2018

AIG Singapore has partnered with Australia-based payments platform provider United Networks to offer its travel insurance customers global wifi connectivity and access to an app-based SOS emergency product that supplies users with updates on significant natural and man-made unfolding nearby in realtime. “We are pleased to be working with AIG Singapore’s ... Read the full article

AIG appoints Aspen’s Thomas Lillelund as CEO for Europe

9th August 2018

American International Group has appointed Thomas Lillelund, former Chief Executive Officer (CEO) of Aspen Re, as CEO of its recently authorised European arm, AIG Europe S.A. Headquartered in Luxembourg, AIG Europe S.A is a new legal entity for AIG’s business in the European Economic Area (EEA) and Switzerland that aims ... Read the full article

Revised reinsurance strategy to support greater profits at AIG, say executives

8th August 2018

Global insurer American International Group (AIG) expects its revised underwriting and reinsurance strategies to drive an improved mix of business at the firm alongside better risk selection, with the insurer actively engaging with its reinsurance partners on opportunities for the remainder of the year. During its Q2 2018 earnings call, AIG ... Read the full article

AIG appoints Zurich’s Jonathan Wismer to three senior positions

7th August 2018

American International Group (AIG) has appointed Jonathan Wismer, former Group Controller for Zurich Insurance Group, to the positions of Senior Vice President (SVP), Deputy Chief Financial Officer (CFO), and Chief Accounting Officer, effective immediately. He succeeds Elias Habayeb, who was appointed as CFO for General Insurance in May, and will report ... Read the full article

AIG names David McElroy as CEO of Lexington unit

2nd August 2018

AIG has announced the appointment of David H. McElroy as Chief Executive Officer (CEO) of its Lexington Insurance Company subsidiary, at a date to be determined. McElroy will report to Peter Zaffino, CEO, General Insurance, and will serve as a member of the General Insurance Executive Leadership Team, overseeing all aspects ... Read the full article

AIG partners with Carlyle Group to build DSA Re into a standalone reinsurer

1st August 2018

American International Group (AIG) has entered into a strategic partnership with The Carlyle Group, a global alternative asset manager, to build AIG’s recently established Bermudian legacy reinsurance platform, DSA Re, into a standalone provider of reinsurance. DSA Re was launched by AIG in February 2018 as a composite reinsurer of ... Read the full article

AIG completes Validus acquisition

18th July 2018

American International Group, Inc. (AIG) has announced the closing of its $5.56 billion acquisition of Validus Holdings, Ltd. following the receipt of regulatory approvals and approval of Validus shareholders. The deal was first announced on January 22nd, 2018, and sees AIG gain some attractive and diversified franchises, including reinsurer Validus Re, insurance-linked ... Read the full article