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 John Repko as Chief Information Officer
21st August 2018
American International Group (AIG) has appointed John P. Repko as its new Executive Vice President, Chief Information Officer, effective September 4, 2018. He succeeds Martha Gallo, who is leaving AIG to pursue other interests, and will report to Brian Duperreault, President and Chief Executive Officer (CEO) of AIG. Repko will also serve ... Read the full article
AIG launches suite of app-based travel solutions
10th August 2018
AIG Singapore has partnered with Australia-based payments platform provider United Networks to offer its travel insurance customers global wifi connectivity and access to an app-based SOS emergency product that supplies users with updates on significant natural and man-made unfolding nearby in realtime. “We are pleased to be working with AIG Singapore’s ... Read the full article
AIG appoints Aspen’s Thomas Lillelund as CEO for Europe
9th August 2018
American International Group has appointed Thomas Lillelund, former Chief Executive Officer (CEO) of Aspen Re, as CEO of its recently authorised European arm, AIG Europe S.A. Headquartered in Luxembourg, AIG Europe S.A is a new legal entity for AIG’s business in the European Economic Area (EEA) and Switzerland that aims ... Read the full article
Revised reinsurance strategy to support greater profits at AIG, say executives
8th August 2018
Global insurer American International Group (AIG) expects its revised underwriting and reinsurance strategies to drive an improved mix of business at the firm alongside better risk selection, with the insurer actively engaging with its reinsurance partners on opportunities for the remainder of the year. During its Q2 2018 earnings call, AIG ... Read the full article
AIG appoints Zurich’s Jonathan Wismer to three senior positions
7th August 2018
American International Group (AIG) has appointed Jonathan Wismer, former Group Controller for Zurich Insurance Group, to the positions of Senior Vice President (SVP), Deputy Chief Financial Officer (CFO), and Chief Accounting Officer, effective immediately. He succeeds Elias Habayeb, who was appointed as CFO for General Insurance in May, and will report ... Read the full article
AIG names David McElroy as CEO of Lexington unit
2nd August 2018
AIG has announced the appointment of David H. McElroy as Chief Executive Officer (CEO) of its Lexington Insurance Company subsidiary, at a date to be determined. McElroy will report to Peter Zaffino, CEO, General Insurance, and will serve as a member of the General Insurance Executive Leadership Team, overseeing all aspects ... Read the full article
AIG partners with Carlyle Group to build DSA Re into a standalone reinsurer
1st August 2018
American International Group (AIG) has entered into a strategic partnership with The Carlyle Group, a global alternative asset manager, to build AIG’s recently established Bermudian legacy reinsurance platform, DSA Re, into a standalone provider of reinsurance. DSA Re was launched by AIG in February 2018 as a composite reinsurer of ... Read the full article
AIG completes Validus acquisition
18th July 2018
American International Group, Inc. (AIG) has announced the closing of its $5.56 billion acquisition of Validus Holdings, Ltd. following the receipt of regulatory approvals and approval of Validus shareholders. The deal was first announced on January 22nd, 2018, and sees AIG gain some attractive and diversified franchises, including reinsurer Validus Re, insurance-linked ... Read the full article
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
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