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.

Analysts’ commentary suggests AIG / Validus deal is positive, overall

23rd January 2018

Insurance and reinsurance market analysts' comments on AIG's proposed $5.56 billion takeover of Validus Holdings underlines a positive stance on the transaction, with AIG making fundamental changes to its commercial P&C segment and maintaining confidence in previous reserve comments. Following the announcement, AIG management held an investor call, during which ... Read the full article

Potential for AIG to expand in new business segments after Validus takeover

22nd January 2018

AIG management has discussed the firm's proposed takeover of Validus Holdings during a recent investor call surrounding the deal, underlining the potential for growth in new business segments supported by Validus' experienced leadership. Following the announcement of a proposed $5.56 billion acquisition of Validus by AIG, the latter's Chief Executive ... Read the full article

AIG to acquire Validus Holdings for $5.56 billion

22nd January 2018

It's been announced that American International Group, Inc. (AIG) will acquire all the outstanding common shares of Validus Holdings, Ltd. for an aggregate transaction value of $5.56 billion, in cash. The deal represents progress in AIG's profitable growth strategy, enhancing the firm's general insurance capabilities, while adding a robust reinsurance underwriter ... Read the full article

AIG shows appetite for large M&A deals: Reports

10th January 2018

Insurance giant American International Group (AIG) has reportedly regained its appetite for large mergers & acquisitions (M&A)  deals, with a significant war chest of billions ready to put to work, since new CEO Brian Duperreault came on board. Bloomberg first reported that AIG had been in the running ... Read the full article

AIG hires Tom Bolt from Berkshire Hathway for Chief Underwriting Officer role

5th December 2017

Insurance giant AIG has poached Tom Bolt from his most recent role as President, UK and Southern Europe, Berkshire Hathaway Specialty Insurance Company (BHSI) to join the insurer as Chief Underwriting Officer, General Insurance. Bolt, who prior to Berkshire Hathaway was the director of performance management at Lloyd's of London, will ... Read the full article

AIG appoints new CEO for North America General Insurance; and new Lexington CEO

7th November 2017

Insurance giant American International Group, Inc. (AIG) has announced the appointment of Lex Baugh as Chief Executive Officer (CEO), North America General Insurance, reporting to Peter Zaffino, CEO, General Insurance. The appointment is effective immediately, and sees Baugh take responsibility for the oversight of AIG's U.S. and Canada General Insurance operations. Baugh ... Read the full article

$3bn of cat losses & huge $836mn reserve charge hit AIG in Q3

3rd November 2017

As well as catastrophe losses of $3 billion, insurance giant AIG took another large adverse development charge in the third-quarter of 2017, of $836 million, resulting in an operating loss worse than expected. The insurer fell to an operating loss of $1.1 billion in the third-quarter of 2017, compared with an ... Read the full article

AIG rebrands freshly acquired Hamilton USA tech-subsidiary

2nd November 2017

American International Group (AIG) has rebranded its newly purchased Hamilton USA technology-focused subsidiary to Blackboard, after having completed its acquisition on October 2nd. The Blackboard vision is to reimagine commercial insurance through digital technology, data analytics, and automation. The name represents a clean slate and alternative solution for those in the industry seeking ... Read the full article

AIG rehires Chris Townsend as CEO, International General Insurance

31st October 2017

American International Group (AIG) has rehired Chris Townsend, who returns after a stint as President of MetLife's Asia region, to act as Chief Executive Officer (CEO) of International General Insurance. He will report to Peter Zaffino, CEO, General Insurance, as a member of the General Insurance Executive Leadership Team and is expected to join ... Read the full article

AIG UK underwrites first Shariah-compliant W&I policy in London M&A market

20th October 2017

AIG UK has underwritten the first Shariah-compliant Warranty and Indemnity (W&I) insurance policy issued in the London M&A insurance market, through Cobolt Underwriting's 'Islamic Window' solution. The buyer of the £5 million W&I policy is a Gulf based financial institution run on Shariah principles, which sought out Shariah-compliant financing to fund ... Read the full article

AIG’s Q3 catastrophe losses could reach $3.1 billion

10th October 2017

Global insurer American International Group, Inc. (AIG) is expecting to suffer a loss in a range from $2.9 billion to $3.1 billion from third-quarter catastrophes, pre-tax but after taking into account its reinsurance arrangements. The insurer estimates losses in ranges from $1.1 billion to $1.2 billion for Hurricane Harvey, $1.0 billion ... Read the full article

AIG and TradeIX partner for blockchain trade finance transactions

5th October 2017

Insurance giant American International Group (AIG) has partnered with specialist technology firm TradeIX to enable firms to access trade finance using a blockchain-enabled platform. AIG and TradeIX have completed the first blockchain-enabled trade finance transaction, for a global logistics company, with financing provided by Standard Chartered plc. AIG, as well as being ... Read the full article

Tokio Marine to acquire AIG medical stop-loss segment

4th October 2017

Tokio Marine HCC  has agreed to acquire the medical stop-loss operations of American International Group (AIG) including its renewal rights, in-force business and employees, through its wholly owned subsidiary HCC Life Insurance Company (HCC Life). The acquired business segment produces a gross written premium of about $350 million, increasing Tokio Marine ... Read the full article

AIG hires Charles Fry to head reinsurance & operations in General Insurance

3rd October 2017

Global insurance player American International Group (AIG) has named Charles Fry (most recently of Novae) to the role of Head of Reinsurance, Operations and Transformation, General Insurance, effective immediately. Fry, who was most recently Group Chief Financial Officer at Novae Group plc, will oversee AIG's Global Reinsurance, Shared Services, Transformation and ... Read the full article

AIG welcomes being taken off SIFI list, will benefit from lower expenses

2nd October 2017

Insurance giant American International Group, Inc. (AIG) has welcomed regulators decision to take the company off the list of financial organisations deemed as a Systemically Important Financial Institution (SIFI). AIG had been deemed an organisation of systemic importance due to the insurers market position during the 2008 financial crisis. Since then the ... Read the full article