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 names Mark Lyons Exec VP & CFO, appoints Sachin Shah CEO of Asia Pacific
5th December 2018
American International Group (AIG) has announced the appointments of Mark D. Lyons as Executive Vice President & Chief Financial Officer (CFO) and Sachin N Shah as Chief Executive Officer of Asia Pacific, AIG General Insurance. Lyons, who succeeds Sid Sankaran, will serve on the AIG Executive Leadership Team and will report ... Read the full article
AIG’s new European post-Brexit carriers receive stable ratings
30th November 2018
Moody’s has assigned A2 insurance financial strength (IFS) ratings and stable outlooks to American International Group’s (AIG) new post-Brexit European carriers, AIG UK Limited and Luxembourg-based AIG Europe S.A. (AESA). AIG recently formed these units in order to ensure continuity of service for it its European policyholders and business partners once ... Read the full article
AIG launches Fortitude Re in partnership with Carlyle Group
14th November 2018
American International Group (AIG) has created a new run-off reinsurer called Fortitude Re in collaboration with global alternative asset manager The Carlyle Group. The companies announced in August 2018 that they had entered into a partnership to build AIG’s Bermudian legacy reinsurance platform, DSA Re (now Fortitude Re), into a ... Read the full article
AIG told to improve reinsurance disclosures
14th November 2018
Global insurer American International Group is to provide improved disclosures regarding its use of reinsurance to mitigate losses in its property and casualty unit, following a request to do so by The U.S Securities and Exchange Commission, according to Reuters. SEC staff reportedly asked AIG to add information that includes details ... Read the full article
AIG completes acquisition of Glatfelter Insurance Group
7th November 2018
Global insurer American International Group (AIG) has completed its acquisition of full-service broker and insurance company Glatfelter Insurance Group. The transaction, which was first announced in September 2018, has closed following receipt of regulatory approvals and satisfaction of other closing conditions. AIG said that it plans to utilise Glatfelter’s specialty programs ... Read the full article
AIG winds down underwriting linked with Iran to comply with U.S. sanctions
7th November 2018
Insurance giant American International Group (AIG) has said that it is winding down all underwriting activities in Iran, that was undertaken by Validus and AIG entities, due to the imposition of U.S. sanctions against the country. AIG acquired the Validus global insurance and reinsurance business recently and it included some underwriting ... Read the full article
AIG targets restructured Japan cat reinsurance program
2nd November 2018
Insurance giant American International Group (AIG) experienced high catastrophe losses in the third-quarter from its operations in Japan, and has revealed that it's working to reorganise its Japanese reinsurance program into a single structure for 2019, in order to reduce both frequency and severity exposure. Yesterday, the firm announced a ... Read the full article
Still negative, but AIG’s Q3 underwriting result improves with reinsurance
1st November 2018
Insurance giant American International Group (AIG) has reported a net, albeit smaller loss in the third-quarter of 2018, of $1.3 billion as a result of significant catastrophe losses. However, the insurer's underwriting loss did narrow year-on-year thanks to reinsurance. AIG's $1.3 billion net loss compares to a $1.7 billion net loss ... Read the full article
AIG names Talbot’s Peter Bilsby as Global Head of Specialty
29th October 2018
Global insurer American International Group (AIG) has announced the appointment of Peter Bilsby, current Chief Executive Officer (CEO) of the Talbot Group, as Global Head of Specialty. Talbot is a Lloyd’s insurance and reinsurance specialist that was acquired by AIG in July 2018 as part of its purchase of Validus Holdings ... Read the full article
AIG receives brexit restructure approval
26th October 2018
AIG Europe (AEL), the European subsidiary of American International Group (AIG), has received approval from the High Court of England & Wales to transfer business into two new entities, signalling a completion of its move to restructure its European operations and ensure readiness for brexit. American International Group UK (AIG UK) ... Read the full article
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