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 adds former GE exec John Rice to Board

17th March 2022

Global insurer and reinsurer AIG has announced the addition of John Rice to its Board of Directors, effective March 17, 2022. Rice is the retired Chairman of GE Gas Power and former President and Chief Executive Officer of the GE Global Growth Organization. His extensive background includes various leadership positions with General ... Read the full article

AIG appoints new chief procurement officer

4th March 2022

American International Group (AIG) has promoted Jeanne Edwards to be its new chief procurement officer. In her new role, Edwards will be responsible for the overall strategy and performance of all purchasing and vendor services across AIG. She will report to Shane Fitzsimons, executive vice president and CFO of AIG. In a ... Read the full article

AIG targets net zero GHG emissions across underwriting & investments by 2050

1st March 2022

Global insurer and reinsurer AIG has committed to achieving net zero greenhouse gas (GHG) emissions across its underwriting and investment portfolios by 2050, or sooner. This announcement from AIG follows the carrier's commitment to achieve net zero GHG emissions by 2050, or sooner, within its own operations. The company says that it's ... Read the full article

AIG ‘very pleased’ with core reinsurance placements at Jan 1: CEO Zaffino

17th February 2022

The Chairman and Chief Executive Officer (CEO) of global insurer AIG, Peter Zaffino, said today that the carrier is "very pleased" with the outcome of its core reinsurance placements at the January 1st, 2022 renewals, despite limited retrocessional and other capacity issues. AIG has been evolving its use of reinsurance for ... Read the full article

AIG posts combined ratio of 92.4% as underwriting improves on lower cats

17th February 2022

Global insurer AIG has reported a strong underwriting result across its portfolio for the fourth quarter of 2021, as its General Insurance (GI) combined ratio improved by more than 10 percentage points to 92.4%, supported by lower catastrophe losses. During the fourth quarter, the carrier's GI division recorded an underwriting gain ... Read the full article

AIG names Marilyn Hirsch as SVP, Treasurer

6th January 2022

American International Group (AIG) has appointed Marilyn Hirsch as Senior Vice President, Treasurer, reporting to Shane Fitzsimons, Executive Vice President and Chief Financial Officer. Hirsch will lead AIG’s global Treasury activities, including financing plans, banking and rating agency relations, and management of capital and liquidity. She's rejoined AIG from the Allstate Corporation ... Read the full article

Fortitude Re finalises acquisition of AIG’s legacy insurance businesses

5th January 2022

Fortitude Group Holdings, LLC, the parent of Bermuda-based reinsurer Fortitude Re, has now completed its takeover of AIG's legacy insurance businesses following the acquisition of Fortitude Life & Annuity Solutions, Inc. (FLAS) and Fortitude P&C Solutions, Inc. (FPCS). It was announced in late November 2019 that the Carlyle Group and ... Read the full article

AIG hires Graham Fulcher as International General Insurance Chief Actuary

20th December 2021

Global insurer and reinsurer, American International Group has appointed Graham Fulcher as International General Insurance Chief Actuary. Based in London, Fulcher will report to Jon Hancock, Chief Executive Officer, International General Insurance and Richard Olsen, Chief Actuary, General Insurance. He joins AIG from Chubb where he served as Chief Actuary for Overseas General ... Read the full article

AIG names new EVP, Global Head of ESG

15th December 2021

AIG has announced the appointment of Constance Hunter as Executive Vice President, Global Head of Strategy & ESG. In early 2022 Hunter will report to President & Chief Executive Officer Peter Zaffino as well as join AIG's executive leadership team. She joins from KPMG having served as Chief Economist since 2013 and ... Read the full article

AIG hires Donna Pearlman to lead Reinsurance Operations

29th November 2021

Global insurer and reinsurer, American International Group, Inc. (AIG), has added Donna Pearlman to the newly created role of Reinsurance Operations Lead. In her new role, Pearlman takes on responsibility for reinsurance at AIG, reporting to Gerald Yeung, Global Head of Ceded Re Placement Operations. She joins the re/insurer after running her ... Read the full article

Industry needs to acknowledge new frequency & severity of events: AIG’s Zaffino

8th November 2021

Peter Zaffino, President and Chief Executive Officer (CEO) of global insurer AIG, expects any fourth quarter catastrophe losses to be limited by the company's reinsurance protection, but warns that overall, the industry needs to acknowledge the dramatic shift in the frequency and severity of events. Last week, AIG announced an ... Read the full article

AIG’s net income hits $1.7bn as General Insurance CR strengthens

5th November 2021

Global insurer AIG has announced a significant rise in net income to $1.7 billion for the third quarter of 2021, driven primarily by net realised gains, a strong underwriting result in its General Insurance (GI) unit and lower losses from catastrophes. During the quarter, the firm's GI unit recorded adjusted pre-tax ... Read the full article

AIG closes sale of equity stake in Life & Retirement business to Blackstone

2nd November 2021

The previously announced transaction between American International Group, Inc. (AIG) and Blackstone, which sees the latter acquire a 9.9% equity stake in the former's Life & Retirement business, has now closed. It was announced back in July that the pair had reached an agreement over the sale of a nearly ... Read the full article

AIG makes senior leadership changes

26th October 2021

American International Group (AIG) has made senior leadership changes as part of the separation of the Life & Retirement business. Mark Lyons, currently Executive Vice President and Chief Financial Officer, AIG, will step into a newly created role of Executive Vice President, Global Chief Actuary and Head of Portfolio Management, AIG. In ... Read the full article

Chris Schaper named CEO of AIG’s ILS manager AlphaCat

20th September 2021

Chris Schaper, Chief Executive Officer (CEO) of AIG Re and Validus Re, will assume direct CEO leadership of insurer AIG's insurance-linked securities (ILS) manager, AlphaCat. This appointment aligns all core businesses of AIG's assumed reinsurer directly under the leadership of Schaper. Current CEO of AlphaCat, Paschal Brooks, is set to depart AIG ... Read the full article