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 targets US high net worth market with new Lloyd’s syndicate
23rd October 2019
American International Group, Inc. (AIG) has announced the launch of Syndicate 2019, a new Lloyd's of London syndicate designed to serve the specialist US high net worth market, subject to regulatory approval. Syndicate 2019 will be managed by Talbot Underwriting Limited, the MGA AIG acquired last year, and will start ... Read the full article
Hagibis could exhaust AIG’s cat allowance for Japan, say analysts
15th October 2019
Typhoon Hagibis, which devasted the east coast of Japan over the weekend, could exhaust the catastrophe allowance of American International Group, Inc. (AIG) in Japan, according to analysts at Credit Suisse. The firm noted that AIG has likely already used its Japan $550 million excess of $200 million occurrence coverage ... Read the full article
AIG names John Panagakis as CEO of First Principles Capital Management
9th October 2019
American International Group, Inc. (AIG) has announced the appointment of John Panagakis as Chief Executive Officer (CEO) of First Principles Capital Management, LLC (FPCM). Acquired in 2015, FCPM is a unit of AIG Investments that serves institutional clients with expertise across the global fixed income securities and derivatives markets. Panagakis joins the ... Read the full article
AIG completes $200mn pension liability deal with Rollins
4th October 2019
American International Group, Inc. (AIG) has completed a transaction with global consumer and commercial services company Rollins for the transfer of $198.3 million of US pension obligations. Rollins distributed the pension obligations through a combination of lump sum payments to participants, payments to the Pension Benefit Guaranty Corporation (PBGC), and the ... Read the full article
AIG makes dual leadership appointments to specialty business
26th September 2019
American International Group, Inc. (AIG) has announced the appointments of Steve Eccles and James Langdon to senior positions within its global specialty business. Eccles will join AIG as Global Head of Aerospace, General Insurance, while Langdon will become UK Head of Energy & Construction, General Insurance. Based in London, Eccles will be ... Read the full article
AIG to back new media finance vehicle by fintech firm FastPay
6th September 2019
Global insurer American International Group (AIG) is to provide funding and trade insurance for a new receivables securitisation program launched by financial technology firm FastPay. The program will offer significant capital to the media and technology sector and allow FastPay to open the door for larger, global media and tech clients ... Read the full article
AIG to shift towards affirmative cyber coverage
5th September 2019
As of January 2020 global insurer AIG will begin affirmatively covering or excluding physical and non-physical cyber exposures for the majority of its commercial P&C policies, in a move it hopes will provide great clarity on cyber risk. Silent cyber has for some time existed as a grey area for the ... Read the full article
Marsh’s Duncan Ellis to join AIG as Head of Retail Property, NA General Insurance
4th September 2019
Global insurer American International Group (AIG) has appointed Duncan Ellis as Head of Retail Property, North America General Insurance, based in New York and reporting to Ken Riegler, President of North America General Insurance, Product & Field Management. Ellis joins the firm in late September from global re/insurance broker Marsh, where ... Read the full article
AIG recruits Sabra Purtill from The Hartford as Deputy CFO
21st August 2019
American International Group, Inc. (AIG) has announced the appointment of Sabra Purtill as Deputy Chief Financial Officer (CFO), Head of Treasury, Investor & Rating Agency Relations, and Corporate Development. In this newly established role, Purtill will oversee AIG’s engagement with key financial stakeholders, including ratings agencies and the investor community, in ... Read the full article
AIG hires Richard Olsen from Munich Re as Chief Actuary, General Insurance
15th August 2019
Insurance giant America International Group (AIG) has announced the hiring of a new Chief Actuary for its General Insurance division, appointing Richard Olsen who the firm has hired from Munich Re. Olsen takes on the role immediately and will be based in New York. He will report to Mark Lyons, Executive ... Read the full article
Evolving reinsurance use supports AIG’s refined underwriting approach
9th August 2019
Global insurer AIG expects to record an underwriting profit for the full-year 2019 as its General Insurance business continued to rebound in Q2 on the back of a "refined" underwriting approach, supported by the firm's evolving reinsurance use. The firm's net income increased to $1.1 billion in Q2 2019 with ... Read the full article
AIG posts strong Q2 off reinsurance actions, improved discipline
8th August 2019
Global insurer AIG has posted a Q2 net income of $1.1 billion, up from $937 million in the prior year quarter, driven by "expense discipline, and reinsurance actions" within its general insurance segment, according to President and Chief Executive Officer, Brian Duperreault. With a combined ratio (CR) of 97.8%, general insurance ... Read the full article
AIG appoints Jennifer Waldner as Chief Sustainability Officer
24th July 2019
American International Group, Inc. (AIG) has announced the appointment of Jennifer Waldner to the newly created role of Chief Sustainability Officer. Waldner will lead the development and implementation of a company-wide sustainability strategy, reporting to Thomas B. Leonardi, AIG’s Executive Vice President and Vice Chair, AIG Life Holdings, Inc. For the past ... Read the full article
Goldman Sachs’ Love joins AIG to lead Global Real Estate
19th July 2019
Global insurer and reinsurer AIG has hired James Love from Goldman Sachs as its new Global Head of Real Estate, effective August 6th, 2019. Based in New York, Love will report to AIG's Global Chief Operating Officer (COO) and Chief Executive Officer (CEO) of General Insurance, Peter Zaffino. In his new role, ... Read the full article
AIG Life & Retirements appoints CEOs for Individual & Group units
2nd July 2019
AIG Life & Retirement, a division of AIG, has promoted Todd Solash as Chief Executive Officer (CEO) of its Individual Retirement business, and Rob Scheinerman as CEO of AIG Retirement Services, its Group Retirement business. The appointments of Solash and Scheinerman, who were each previously President of their respective units, follow ... Read the full article