Reinsurance News
6th September 2019
Global insurer American International Group (AIG) is to provide funding and trade insurance for a new receivables securitisation program launched by financial technology firm FastPay. The program will offer significant capital to the media and technology sector and allow FastPay to open the door for larger, global media and tech clients ... Read the full article
5th September 2019
As of January 2020 global insurer AIG will begin affirmatively covering or excluding physical and non-physical cyber exposures for the majority of its commercial P&C policies, in a move it hopes will provide great clarity on cyber risk. Silent cyber has for some time existed as a grey area for the ... Read the full article
4th September 2019
Global insurer American International Group (AIG) has appointed Duncan Ellis as Head of Retail Property, North America General Insurance, based in New York and reporting to Ken Riegler, President of North America General Insurance, Product & Field Management. Ellis joins the firm in late September from global re/insurance broker Marsh, where ... Read the full article
21st August 2019
American International Group, Inc. (AIG) has announced the appointment of Sabra Purtill as Deputy Chief Financial Officer (CFO), Head of Treasury, Investor & Rating Agency Relations, and Corporate Development. In this newly established role, Purtill will oversee AIG’s engagement with key financial stakeholders, including ratings agencies and the investor community, in ... Read the full article
15th August 2019
Insurance giant America International Group (AIG) has announced the hiring of a new Chief Actuary for its General Insurance division, appointing Richard Olsen who the firm has hired from Munich Re. Olsen takes on the role immediately and will be based in New York. He will report to Mark Lyons, Executive ... Read the full article
9th August 2019
Global insurer AIG expects to record an underwriting profit for the full-year 2019 as its General Insurance business continued to rebound in Q2 on the back of a "refined" underwriting approach, supported by the firm's evolving reinsurance use. The firm's net income increased to $1.1 billion in Q2 2019 with ... Read the full article
8th August 2019
Global insurer AIG has posted a Q2 net income of $1.1 billion, up from $937 million in the prior year quarter, driven by "expense discipline, and reinsurance actions" within its general insurance segment, according to President and Chief Executive Officer, Brian Duperreault. With a combined ratio (CR) of 97.8%, general insurance ... Read the full article
24th July 2019
American International Group, Inc. (AIG) has announced the appointment of Jennifer Waldner to the newly created role of Chief Sustainability Officer. Waldner will lead the development and implementation of a company-wide sustainability strategy, reporting to Thomas B. Leonardi, AIG’s Executive Vice President and Vice Chair, AIG Life Holdings, Inc. For the past ... Read the full article
19th July 2019
Global insurer and reinsurer AIG has hired James Love from Goldman Sachs as its new Global Head of Real Estate, effective August 6th, 2019. Based in New York, Love will report to AIG's Global Chief Operating Officer (COO) and Chief Executive Officer (CEO) of General Insurance, Peter Zaffino. In his new role, ... Read the full article
2nd July 2019
AIG Life & Retirement, a division of AIG, has promoted Todd Solash as Chief Executive Officer (CEO) of its Individual Retirement business, and Rob Scheinerman as CEO of AIG Retirement Services, its Group Retirement business. The appointments of Solash and Scheinerman, who were each previously President of their respective units, follow ... Read the full article
28th June 2019
American International Group (AIG) has announced the appointment of Shane Fitzsimons to the newly created role of Global Head of Shared Services, effective July 1. Fitzsimons joins AIG from Indian multinational conglomerate TATA Group, where he served as Group Synergy Officer. Prior to this he spent 20 years at GE in operational ... Read the full article
20th June 2019
Insurance and reinsurance market Lloyd's of London is conducting talks with major insurer insurers such as Chubb and AIG as it looks to further boost its growth in the U.S, according to reports Reuters. CEO John Neal told the publication that Lloyd’s was discussing potential opportunities for the insurers to sell ... Read the full article
20th June 2019
American International Group, Inc (AIG) has announced the consolidation of its assumed reinsurance operations, resulting in the establishment of global business AIG Re. The global re/insurer has consolidated the assumed reinsurance operations of Validus Re, AlphaCat, and Talbot Treaty into one global reinsurance business, called AIG Re. At the same time, the ... Read the full article
13th June 2019
Global insurer AIG has highlighted an increase in both the frequency and severity of Warranty & Indemnity (W&I) claims across the globe, while the driver of claims notifications remains unchanged. For deals between $400 million and $1 billion, AIG notes that claims notification frequency has increased by 26%, but remained steady ... Read the full article
10th June 2019
Global insurer American International Group (AIG) has announced the appointment of John Cusano as Chief Business & Technology Operations Officer, effective July 1. Cusano, who joins from Accenture having held a number of leadership positions in the company, has over 30 years’ experience and has demonstrated a successful track record of ... Read the full article
