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 appoints new North America Property CUO from Swiss Re

26th June 2018

AIG has announced the appointment of Jamie Miller as North America (NA) Property Chief Underwriting Officer (CUO), General Insurance, effective June 25. Miller joins from Swiss Re, where he was Managing Director, North America Property and Risk Specialty Lines for over a decade. He brings more than 35 years’ experience to the ... Read the full article

AIG to acquire UK life insurer Ellipse from Munich Re

20th June 2018

American International Group, Inc. (AIG) has entered into an agreement to acquire Ellipse, a specialist provider of group life risk protection in the UK, from Munich Re. The acquisition will be funded by an undisclosed cash consideration, and will be conducted via AIG Life Ltd. (AIGLL), a UK subsidiary of AIG ... Read the full article

Swiss Re, SCOR, AIG elected to EU Expert Group for Sustainable Finance

19th June 2018

The European Commission has named representatives from Swiss Re, SCOR and AIG as among the list of members of its Technical Expert Group on Sustainable Finance, which will assist the Commission in developing a classification system for environmentally sustainable economic activity. The Group, which was announced in the Commission’s Action Plan ... Read the full article

Morgan Stanley analysts “more confident” AIG is past large reserve issues

30th May 2018

Analysts at Morgan Stanley estimate $17 million in excess reserves for large primary insurer American International Group (AIG), marking its first redundancy since Morgan Stanley's initial study eight years ago, and, which suggests large reserve issues are finally behind the company. Following years of reserve charges at AIG, Morgan Stanley analysts ... Read the full article

GDPR will drive surge in new cyber claims, reports AIG

30th May 2018

The European Union’s (EU’s) General Data Protection Regulations (GDPR) are expected to result in a further surge in data breach and other security failure insurance claims, according to a new study by AIG Europe. The cyber re/insurance industry already experienced a record-breaking year in 2017, receiving as many cyber claim notifications ... Read the full article

AIG expects further pension risk transfer market growth in 2018

30th May 2018

American International Group (AIG) expects continued growth in the pension risk transfer market throughout 2018 and beyond, as the insurance giant announces agreements on the two largest plan termination transactions in 2017. The deals, which represented over $1.5 billion in pension plan obligations covering more than 24,000 retirees, beneficiaries, deferred and ... Read the full article

Mercer CEO Lisa Sun named new head of AIG China

25th May 2018

American International Group (AIG) has announced that Lisa Sun is to join AIG China as its new Chief Executive Officer (CEO). She will be based in Shanghai. Sun joins AIG from Mercer, where she was CEO of its Hong Kong & South and East Asia Zone. Having previously held executive roles at ... Read the full article

Lyons rejoins AIG as SVP & Chief Actuary, General Insurance

15th May 2018

American International Group, Inc. (AIG) has announced the appointment of Mark D. Lyons as Senior Vice President (SVP) & Chief Actuary, General Insurance, effective June 1st, 2018. Lyons is rejoining the firm from Arch Capital Group, where he was Executive Vice President (EVP), Chief Financial Officer (CFO), and Treasurer since 2012. In his ... Read the full article

Cyber defence investment desperately required in manufacturing sector: AIG

26th April 2018

AIG has urged the re/insurance industry to improve its cyber defence investment following a report that revealed nearly half of UK manufacturers have been the victim of cyber-crime, and that a quarter have suffered related financial loss or business disruption. The report, which was published by AIG and EEF, the manufacturer’s ... Read the full article

AIG establishes two new insurers ahead of Brexit

19th April 2018

American International Group (AIG) has announced the authorisation of two new insurers in the UK and Luxembourg, and has outlined plans to transfer all business to the new entities ahead of the UK’s departure from the European Union (EU) in March, 2019. AIG’s restructure involves the transfer of AIG Europe Limited’s ... Read the full article

AIG appoints XL Catlin’s Vidovich as Chief Claims Officer

16th April 2018

American International Group (AIG) has announced that Anthony Vidovich, current Head of Claims at XL Catlin, is to become its new Chief Claims Officer, General Insurance. Vidovich will now be responsible for guiding the strategic direction of General Insurance Claims at AIG, overseeing governance and policy, settlement authorities, claims handling, and ... Read the full article

AIG appoints new Head of Marketing and Communications, General Insurance

29th March 2018

American International Group (AIG) has named Ed Dandridge as its new Head of Marketing and Communications, General Insurance. In his new role, Dandridge will support the development and implementation of General Insurance’s global marketing and communications strategy, and will report to Peter Zaffino, Chief Executive Officer (CEO), General Insurance. The appointment will ... Read the full article

AIG announces new Chief Auditor and Global COO, General Insurance

2nd March 2018

American International Group, Inc. (AIG) has named Naohiro Mouri as its new Executive Vice President and Chief Auditor, and Donna DeMaio as Global Chief Operating Officer (COO), General Insurance. Previously, Mouri held the position of Senior Managing Director at Asia Pacific Internal Audit. In his new role he will report to ... Read the full article

David Russo joins Ironshore from AIG as VP, Regional Exec, Mid-Atlantic Region

13th February 2018

Ironshore Inc. has announced the appointment of David Russo from AIG as Vice President (VP), Regional Executive of the Mid-Atlantic Region, based in Philadelphia. Russo takes over from Kevin Fee, who was recently named Chief Operating Officer (COO) of Ironshore Environmental, and will report to David Frediani, President of the firm's U.S. Field ... Read the full article

AIG sets up legacy reinsurance unit, as it takes $6.7bn tax act charge

9th February 2018

Insurer American International Group (AIG) announced its results yesterday, revealing continuing issues with legacy business, resulting in another reserve charge, but also the launch of a Bermudian legacy reinsurance platform. The insurer also announced a one-off charge of $6.7 billion related to the enactment of the Tax Cuts and Jobs Act, ... Read the full article