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 closes sale of Corebridge stake to Nippon Life
10th December 2024
Global insurer American International Group, Inc. (AIG) has closed its previously announced sale of approximately 120 million shares of its Corebridge common stock to Nippon Life Insurance Company. The selling price of the stock, as previously reported, was decided at $31.47 per share, for an aggregate purchase price of $3.8 ... Read the full article
AIG completes sale of personal travel insurance & assistance business to Zurich
3rd December 2024
Global insurer American International Group, Inc. (AIG) has successfully closed the previously announced sale of its global individual personal travel insurance and assistance business, including Travel Guard, to Zurich Insurance Group. It was previously revealed that AIG agreed to sell Zurich these operations for $600 million in cash, with an ... Read the full article
AIG appoints Torben Schwierzke as Head of Casualty for DACH region
27th November 2024
American International Group (AIG), a global insurance company, has appointed Torben Schwierzke as the new Head of Casualty for the DACH region, overseeing the company's Casualty business in Germany, Austria, and Switzerland. Schwierzke is a highly experienced leader with a proven track record of successfully managing teams across all DACH geographies. His ... Read the full article
AIG names Christopher Schaper as Chief Risk Officer
13th November 2024
Global insurer American International Group, Inc. (AIG) has appointed Christopher Schaper as its new Chief Risk Officer on a permanent basis, effective immediately. He has held the same role on an interim basis since September 2024, while also serving as AIG’s Global Chief Underwriting Officer (CUO). In an interim capacity, Schaper ... Read the full article
Courtney Leimkuhler joins AIG Board of Directors
11th November 2024
American International Group, Inc. (AIG) has elected Courtney Leimkuhler, co-founder and Managing Partner of Springbank, to its Board of Directors as an independent Director. An accomplished executive, Leimkuhler began her career in investment banking at Goldman Sachs. She then joined NYSE Euronext, where she spent nearly a decade leading Corporate Strategy ... Read the full article
Frequency & severity losses will not be solved by reinsurers in 2025: AIG CEO
5th November 2024
This year, insured catastrophe losses have already exceeded $100 billion and are expected to easily breach the $120 billion mark, but with reinsurers poised to generate underwriting profits on their global catastrophe portfolios in 2024 after the significant market reset last year, industry losses will continue to be realised by ... Read the full article
AIG posts solid Q3’24 result as higher catastrophe charges dent GI underwriting result
5th November 2024
Global insurer AIG has reported a 77% year-on-year decline in net income to $459 million for the third quarter of 2024, driven primarily by a reduction in net income from discontinued operations following the deconsolidation of Corebridge, while its General Insurance (GI) business saw its underwriting result fall 28% on ... Read the full article
AIG’s new Atlanta innovation hub to drive growth and create 600+ jobs
23rd October 2024
American International Group, Inc. (AIG) has announced its plans to consolidate and expand its Atlanta-area footprint with the relocation of its Alpharetta and Buckhead operations to a new innovation hub To be located at 2002 Summit Boulevard Northeast in Brookhaven, Georgia, AIG’s new hub has been designed as a collaborative workspace ... Read the full article
AIG names Keith Walsh as Executive Vice President and Chief Financial Officer
19th September 2024
Global insurer American International Group, Inc. (AIG) has named Keith Walsh as Executive Vice President and Chief Financial Officer, effective October 21st, 2024. Walsh will be based out of New York and reports to AIG Chairman & Chief Executive Officer, Peter Zaffino. He joins the Executive Leadership Team as a member ... Read the full article
AIG expects 2025 CoR to be the same or lower than in 2023: CEO Zaffino
2nd August 2024
Global insurer AIG expects its 2025 calendar year combined ratio to come in the same or lower than the one reported in 2023, mainly as the result of actions taken as part of its AIG Next reorganization and expense reduction program. This news follows the insurer’s release of its second ... Read the full article
AIG reports Q2’24 net loss on Corebridge deconsolidation
1st August 2024
Global insurer AIG has reported a net loss of $4 billion in its second quarter 2024 results, driven by the recognition of a loss as a result of Corebridge deconsolidation, with divested businesses denting the performance of its general insurance (GI) business. AIG explains that it recognized a loss of $4.7 ... Read the full article
AIG appoints Dimitry Zilberud as Head of Marine, APAC
31st July 2024
Global insurer American International Group (AIG) has announced the appointment of Dimitry Zilberud as Head of Marine for the Asia Pacific (APAC) region. In his new role, Zilberud will be based in Sydney, Australia. In a statement, Emma Woolley, Global Head of Marine at AIG, said: “Dimitry has 26 years of insurance ... Read the full article
Ryan Specialty and Private Client Select launch excess & surplus lines distribution partnership
26th July 2024
Private Client Select Insurance Services LLC (PCS), an independent Managing General Underwriter mainly owned by American International Group, Inc. (AIG) and Stone Point Capital LLC, has revealed a new partnership with Ryan Specialty. In this partnership, Ryan Specialty will exclusively serve as the wholesale broker for PCS in the High and ... Read the full article
AIG names Melissa Twiningdavis Executive Vice President, Chief Administrative Officer
15th July 2024
Global insurer American International Group (AIG) has appointed Melissa Twiningdavis as Executive Vice President (EVP), Chief Administrative Officer, effective September 1st, 2024, reporting to Peter Zaffino, Chairman and Chief Executive Officer (CEO). Twiningdavis is based in New York and is responsible for global administrative services, including global sourcing and procurement, real ... Read the full article
AIG appoints Adam Burk as Global Treasurer & Head of Corporate Development
8th July 2024
Global insurer American International Group (AIG) has announced the appointment of Adam Burk as Global Treasurer and Head of Corporate Development, alongside his current role as Head of Corporate Development. Burk will continue reporting to Sabra Purtill, Executive Vice President and Chief Financial Officer of AIG. In his expanded role, Burk will ... Read the full article
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