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’s Amy Stern take senior reinsurance role at Pie Insurance

20th July 2021

Pie Insurance, an insurtech company specializing in workers' comp insurance for small businesses, has announced several new leadership appointments, which include the addition of Amy Stern as Vice President of Reinsurance and Capital Solutions. Stern previously served as Chief Ceded Reinsurance Officer at AIG. Other appointments included Chris Lankford as VP of ... Read the full article

AIG offloads 9.9% share in its Life & Retirement operation to Blackstone

15th July 2021

American International Group, Inc. (AIG) has reached an agreement with Blackstone over the sale of a 9.9% stake in its Life & Retirement business, and will also sell certain affordable housing assets to Blackstone Real Estate Income Trust (BREIT). Blackstone will acquire an almost 10% stake in AIG's Life & Retirement ... Read the full article

AIG underlines sustainability targets in first ESG report

6th July 2021

Global re/insurer American International Group (AIG) has released its first Environmental, Social and Governance (ESG) report which details its progress toward supporting a more sustainable future for its stakeholders. The report outlines how the company is aligning its sustainability efforts with its core business strategy and describes how AIG identifies, measures ... Read the full article

Prince Charles launches industry-led climate change task force at Lloyd’s

24th June 2021

HRH The Prince of Wales has launched his Sustainable Markets Initiative (SMI) insurance task force today during a visit to Lloyd’s of London. Chaired by Lloyd’s, the task force is composed of executives from many of the world’s largest re/insurers and aims to provide an influential platform for the sector to ... Read the full article

Quentin McMillan joins AIG as Head of Investor Relations

9th June 2021

American International Group, Inc. has announced the appointment of Quentin McMillan, who will join the company as Vice President, Managing Director and Head of Investor Relations, effective June 7, 2021. McMillan joins AIG from Marsh McLennan where he served as Senior Director, Investor Relations. Prior to Marsh McLennan, he worked for Keefe, ... Read the full article

Validus Re now considered “core” to AIG by S&P

27th May 2021

S&P Global Ratings has upgraded the issuer credit and financial strength ratings of Validus Re to reflect a revised view of its group status as core to its ultimate parent, AIG. Since being acquired in July 2018, Validus has been viewed as “highly strategically important” to AIG, but analysts now consider ... Read the full article

AIG anticipates margin expansion throughout 2021/22

11th May 2021

Mark Lyons, Chief Financial Officer (CFO) and Peter Zaffino, President and Chief Executive Officer (CEO) of American International Group (AIG) have explained that the global re/insurer anticipates a margin expansion throughout 2021 and into 2022. The margin expansion is the result of AIG’s favourable underwriting actions from favourable global market conditions, ... Read the full article

AIG’s General Insurance unit posts $73m underwriting gain for Q1

7th May 2021

American International Group, Inc. (AIG) has reported net income of $3.9 billion for the first quarter of 2021, driven by an improved performance in both its General Insurance (GI) and Life and Retirement segments. Year-on-year, AIG's net income improved by roughly $2.2 billion from the $1.7 billion reported in Q1 2020. AIG ... Read the full article

AIG hires Claude Wade as EVP, Global Head of Operations

30th March 2021

Global re/insurer American International Group (AIG) has appointed Claude Wade to the newly created role of Executive Vice President, Global Head of Operations and Chief Digital Officer. Based in New York, Wade will report to President & Chief Executive Officer (CEO), Peter Zaffino. Wade has over thirty years of operational strategy and ... Read the full article

AIG promotes Elaine Rocha to Global COO of Reinsurance

25th March 2021

Global insurer and reinsurer AIG has promoted Elaine Rocha, Esq. to the newly created position of Global Chief Operating Officer (COO), Reinsurance. Rocha has been with AIG for 11 years, having joined in 2010 as Associate General Counsel and Vice President, Excess Casualty and Cat Excess. In 2014, she took on the ... Read the full article

AIG Korea appoints Toubassy as new CEO, reports

17th March 2021

AIG Korea has added Ramzi Toubassy as its new Chief Executive Officer, according to reports from the Korea Times news outlet. Toubassy was formerly the chief executive of AmMetLife Insurance Berhad in Malaysia and will join the company April 1. He formerly served at companies such as Swiss Re, General Reinsurance and ... Read the full article

AIG adds Lisa Buckingham to newly created EVP role

11th March 2021

Global re/insurer AIG has appointed Lisa Buckingham to the newly created role of Executive Vice President, Global Head of AIG Enterprise Design and Life & Retirement Separation Initiatives. Buckingham, who joins in April, will be based in New York and reports to President and Chief Executive Officer Peter Zaffino. She has over ... Read the full article

AIG adds Jasco CEO James Cole to Board

2nd March 2021

Global insurer and reinsurer AIG has announced the addition of James Cole to its Board of Directors, effective March 15th. Cole is Chairman and Chief Executive Officer (CE) of The Jasco Group, a New York City-based investment management firm. Previously, he spent approximately 15 years with the law firm Wachtell, Lipton, Rosen ... Read the full article

AIG brings down aggregate reinsurance limit to $2.05bn for 2021

22nd February 2021

Global insurer and reinsurer AIG has renewed its worldwide property catastrophe reinsurance program for 2021, securing a reduced $2.05 billion of aggregate limit that is shared across regional towers. In comparison, the firm's 2020 property cat reinsurance renewal included $2.5 billion of aggregate limit shared across regional towers of the ... Read the full article

AIG actively seeking Life & Retirement sale, Athene interested

19th February 2021

Incoming AIG Chief Executive Peter Zaffino says his company is working "purposefully and with a sense of urgency on several fronts" related to a 19.9% sale of its Life and Retirement business. In a Q4 earnings call Zaffino said he was pleased with the level of interest quality of potential partners ... Read the full article