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.
Volatile market, nat cats see AIG report $559m Q4 loss
14th February 2019
Catastrophe losses and poor investment returns in a volatile market have seen American International Group (AIG) report an adjusted after-tax loss of $559 million. In addition, the company added $365 million to its reserves in the quarter to cover policies issued in 2016 and earlier. For the full year, this figure totalled ... Read the full article
AIG to launch LatAm Facultative Desk following Talbot integration
7th February 2019
American International Group (AIG) is to launch AIG Facultative Desk, Latin America after successfully integrating Talbot’s regional facultative underwriting platforms in Miami and Santiago with its regional underwriting team. This unified offering follows AIG’s acquisition of Validus last year, a deal which saw the company gain some attractive and diversified franchises ... Read the full article
AIG expands Middle East services with re/insurance solutions from DIFC office
4th February 2019
American International Group (AIG) subsidiary AIG MEA has begun providing re/insurance solutions from its office in the Dubai International Financial Centre (DIFC), the leading financial centre in the region. The move enables AIG MEA to offer solutions to a broader number of geographies in the Middle East and Africa whilst bolstering ... Read the full article
AIG appoints Global Head of A&H, General Insurance
28th January 2019
Edward Levin has been named as the new Global Head of Accident & Health, General Insurance, at American International Group, Inc. (AIG), effective next month. Levin will be based in London and will report to Christopher Townsend, Chief Executive Officer (CEO) of AIG International General Insurance. In his new position, Levin will ... Read the full article
AIG’s AlphaCat and Ledger Capital Markets in new ILS transaction
17th January 2019
AlphaCat Managers, Ltd., AIG's third-party reinsurance capital and insurance-linked securities (ILS) unit, has announced a new ILS transaction with Ledger Capital Markets, LLC. The transaction relates to the direct securitisation of a non-standard passenger auto insurance portfolio, and brings a new class of business to the ILS investor community. The deal ... Read the full article
AIG adds Thomas Motamed to Board of Directors
16th January 2019
American International Group, Inc. (AIG) has announced that Thomas F. Motamed has been elected to its Board of Directors, effective immediately. Motamed retired from his position as Chairman and Chief Executive Officer (CEO) of CNA Financial Corporation in 2016, a role that he had held since 2009. Prior to this, he spent ... Read the full article
AIG completes purchase of UK life insurer Ellipse from Munich Re
2nd January 2019
American International Group (AIG) has completed its acquisition of Ellipse, a specialist provider of group life risk protection in the UK, from Munich Re. Funded by an undisclosed cash consideration, the purchase was conducted via AIG Life, a UK subsidiary of AIG Life & Retirement. AIG said that Ellipse’s group protection capabilities, ... Read the full article
AIG hires Arch’s Michael Price as Deputy CUO, General Insurance
13th December 2018
Global insurer and reinsurer American International Group (AIG) has appointed Michael Price as Deputy Chief Underwriting Officer (CUO) for General Insurance. He joins AIG from Arch Insurance Group, where he most recently served as its CUO for North America. As AIG's Deputy CUO, Price will work closely with CUO Tom Bolt, Read the full article
Philip Willcock named CEO of AIG Life Limited (UK)
13th December 2018
AIG Life Limited (UK), a division of global insurer and reinsurer American International Group, Inc. (AIG), has announced the appointment of Philip Willcock as its new Chief Executive Officer (CEO), effective March 1st, 2019. Willcock will be based in London, and will report to Adam Winslow, CEO, International, Life & Retirement, AIG Life ... Read the full article
Hard market not needed to fix AIG: Brian Duperreault
10th December 2018
The Chief Executive Officer (CEO) of global insurer and reinsurer American International Group (AIG), Brian Duperreault, has said that a hard market isn't required to fix the company. After reporting a third-quarter net loss, albeit improved on the same period in 2017, AIG's full-year 2018 performance will likely be closely watched ... Read the full article
AIG’s aggregate reinsurance at risk on up to $800m Q4 cat loss
5th December 2018
Global insurer and reinsurer American International Group (AIG) has announced estimated catastrophe losses of between $750 million and $800 million for the fourth-quarter of 2018, according to the company's Chief Executive Officer (CEO), Brian Duperreault. Speaking at the Goldman Sachs U.S. Financial Services Conference held recently in New York, insurance and ... Read the full article
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
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