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 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
AIG, Hamilton & Two Sigma reveal strategic partnerships and MOU
15th May 2017
Following AIG's appointment of Brian Duperreault as President & CEO and new senior executive appointments at Hamilton Insurance, it's been revealed that the two companies, alongside Two Sigma Insurance Quantified, plan to expand their relationships, which includes the acquisition of Hamilton USA by AIG. Senior executive appointments have been announced at both AIG ... Read the full article
AIG names Brian Duperreault President, CEO & Director
15th May 2017
Insurer AIG has now announced the appointment of Brian Duperreault as its new President, Chief Executive Officer (CEO) and Director, signalling his resignation as Chairman and CEO of Hamilton Insurance Group. Rumours suggesting the appointment of Duperreault as the new CEO of AIG had been circulating the insurance and reinsurance industry for the past ... Read the full article
Rumours suggest AIG close to securing Hamilton’s Duperreault as CEO
11th May 2017
Rumours have been spreading across the global insurance and reinsurance industry that AIG is in the final stages of securing Brian Duperreault, founder and Chief Executive Officer (CEO) of Hamilton Insurance, as its new CEO. Analysts at Credit Suisse have commented on reports from the Wall Street Journal (WSJ) that insurance industry ... Read the full article
Ogden rate cut & Berkshire adverse development cover to impact AIG’s Q1 results
20th April 2017
American International Group, Inc. (AIG) has reported that it expects both the cut to the UK Ogden Discount rate and its adverse development cover with Berkshire Hathaway to impact its Q1 2017 results. The Lord Chancellor and Justice Secretary, Liz Truss, announced early in 2017 that the UK Ogden discount ... Read the full article
Christopher McKeon to join Everest Re from AIG
29th March 2017
Everest Re has announced Christopher McKeon, who joins from AIG, as new leader of its Commercial Casualty unit within the Risk Management Group. Working from the Group’s New York based office, McKeon will oversee multi-line primary casualty solutions for upper middle market clients, reporting to David Sandler, Head of the Everest ... Read the full article
Warren Buffett’s Berkshire Hathaway should buy AIG: KBW analyst
13th March 2017
Keefe, Bruyette & Woods analyst Meyer Shields offered Warren Buffett some bold advice on Friday, laying out the case for Berkshire Hathaway buying insurance giant AIG. Shields and his fellow KBW analysts said that Peter Eastwood, the current head of Berkshire Hathaway Specialty Insurance (BHSI) and formed AIG CEO of Property ... Read the full article
CEO Hancock resigns from AIG, citing lack of support
9th March 2017
American International Group's President and Chief Executive Officer Peter Hancock has handed in his resignation, citing a lack of support for his tenure. Following difficult times at AIG, which has seen the company downsizing and seeking to get activist shareholders on-board with Hancock's strategy, it appears he's had enough and ... Read the full article
Rise in large industrial claims driving reserve surprises, suggests J.P. Morgan
17th February 2017
Following AIG's recently announced $2.79 billion Q4 loss as a result of a $5.6 billion reserve charge, analysts at J.P. Morgan have suggested that the negative surprise, which is unlikely to be exclusive to AIG, could be the result of increased large industrial claims, particularly in the U.S. AIG's fourth-quarter 2016 ... Read the full article
Major insurers lower retentions, buy more reinsurance
17th February 2017
New reinsurance demand is being seen as some of the world's largest insurance companies lower their retentions on existing layers of reinsurance coverage and expand their programs, buying new layers as well. So far this year it has come to light that insurance giant's Zurich and AIG have both significantly reduced ... Read the full article
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