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.

Duperreault says underwriters should be “part actuary, part data scientist:”reports

28th September 2017

AIG's Chief Executive Brian Duperreault highlighted the changing role of the underwriter as an integral part of re/insurance industries adaptation to the "modern era" of AI and technology, saying they need to become "part actuary, part data scientist," in an interview with Asia Nikkei. The skill set required by underwriters ... Read the full article

AIG re-orgs for the future, Schimek to leave

25th September 2017

Insurance giant American International Group (AIG) said today that it is adjusting its organisational structure, in a move seen as part of its strategy for addressing the needs of its customers and responding to future market opportunities. The company is to move away from its commercial/consumer business divide and as a ... Read the full article

AIG places first Shariah-compliant M&A insurance policy in MENA

19th September 2017

American International Group, (AIG), has placed the first Shariah-compliant insurance policy in the Middle East and North Africa region (MENA) for merger and acquisitions activity, advised by global law firm Norton Rose Fulbright. In partnership with Shariah-compliant managing general agent, Cobalt Underwriting, AIG offers a range of Islamic insurance solutions for ... Read the full article

AIG seeks buyer for $2 billion life portfolio

16th August 2017

Sources told Reuters that American International Group has plans to sell a $2 billion life portfolio, with private equity giant Apollo Global Management being among prospective buyers. Investment bankers at Goldman Sachs Group are allegedly helping AIG unload the life settlement assets, which trigger when sick or elderly customers ... Read the full article

AIG could make better use of softening reinsurance market: Credit Suisse

20th July 2017

Property business is expected to drive much of the medium term underwriting improvement at global insurer American International Group Inc. (AIG), and the firm would be wise to make better use of the softening reinsurance market environment, suggests Credit Suisse analysts. AIG recently announced the appointment of Brian Duperreault as its ... Read the full article

AIG appoints Seraina Macia to CEO of planned subsidiary

14th July 2017

American International Group (AIG) has appointed Seraina Macia as Executive Vice President and Chief Executive Officer (CEO) of a new planned subsidiary, that will be set up to transform the firm's commercial insurance delivery with emerging technology and data science. The appointment is effective immediately, and will see Macia serve on the ... Read the full article

Sonja Ochsenkuehn joins XL Catlin from AIG to lead Global Programs

10th July 2017

The global insurance division of insurer and reinsurer, XL Catlin, has announced the appointment of Sonja Ochsenkuehn from insurer AIG, as Head of Global Programs. Ochsenkuehn has worldwide responsibility for XL Catlin's insurance operations' Global Programs, which are key to the company's offerings to its clients. In fact, XL Catlin explains that last ... Read the full article

Peter Zaffino named Global Chief Operating Officer of AIG

6th July 2017

American International Group (AIG) has named Peter Zaffino, previously of CEO of brokerage and risk management firm Marsh LLC, as its new Global Chief Operating Officer, effective August 1st 2017. The rumours that Zaffino would be following his ex-colleague and new AIG President and Chief Executive Officer Brian Duperreault have been ... Read the full article

AIG utilises blockchain for “smart” insurance solution pilot

16th June 2017

Global insurer American International Group (AIG) and Standard Chartered have partnered with International Business Machines Corp (IBM) to create a "smart" insurance solution that utilises blockchain technology to make complicated insurance policies much simpler. AIG and UK-based international bank Standard Chartered have now completed a blockchain pilot, using the open-source Hyperledger Fabric protocol, which was built ... Read the full article

AIG could raise as much as $670m from Arch share sale

14th June 2017

Global insurer AIG is set to raise up to $670 million from the sale of shares it holds in Bermuda-based insurance and reinsurance specialists Arch Capital Group Ltd. The secondary share offering has now closed, with the 6,381,410 common shares offered by affiliates of American International Group, Inc. priced at $92.50 ... Read the full article

AIG to sell $600m Arch shares gained from United Guaranty sale

9th June 2017

Insurer AIG is to sell $600 million worth of shares it owns in Bermudian insurance and reinsurance group Arch Capital Group Ltd., a holding that AIG gained when it sold mortgage insurer United Guaranty to Arch. Arch completed its acquisition of United Guaranty Corporation (UGC) from American International Group (AIG) ... Read the full article

AIG management’s ability to execute turnaround questioned by S&P

7th June 2017

The ability of the management of troubled insurance giant American International Group (AIG) to execute on its recovery plans has been questioned by rating agency Standard & Poor's, despite the arrival of Brian Duperreault as CEO. AIG has been working to turn-around its performance in recent years, an ongoing process ... Read the full article

AIG Philippines puts $2.5 billion towards property insurance

25th May 2017

AIG Philippines, a unit of the American non-life insurer, announced that it's set aside $2.5 billion for property insurance ahead of the P7-trillion infrastructure rollout under the administration of President Duterte. The announcement comes as AIG prepares to be able to offer cover for the country's upcoming massive investment in infrastructure ... Read the full article

A.M. Best sees brighter prospects for AIG under Brian Duperreault

25th May 2017

Following the recent announcement from U.S. insurance giant American International Group (AIG) that it was making Brian Duperreault its new President and Chief Executive Officer (CEO), its clear that rating agency A.M. Best sees a brighter future for the insurer. A.M. Best had placed the credit ratings of AIG under review ... Read the full article

Duperreault plans to grow AIG, not break it up

16th May 2017

Brian Duperreault, the new President, Chief Executive Officer (CEO) & Director of AIG, plans to make the firm better than it's ever been and sees opportunities to pursue both organic and inorganic growth as he looks to take the company forward. Speaking at the firm's Consumer Insurance Investor Day webcast, Duperreault ... Read the full article