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 meets requirements for Corebridge Financial deconsolidation
10th June 2024
Global insurer, American International Group (AIG) has met the requirements for the deconsolidation of its life & retirement unit, Corebridge Financial, for accounting purposes. According to the announcement, the deconsolidation is a result of AIG’s decision to waive its right to majority representation on the Corebridge Financial Board of Directors and ... Read the full article
AIG’s CEO sees substantial growth opportunities in the E&S market
3rd June 2024
AIG's Chairman and CEO, Peter Zaffino, highlighted the company's strategic focus on the rapidly expanding Excess & Surplus (E&S) insurance market, which he sees as a significant avenue for growth. Zaffino emphasised the remarkable growth trajectory of the E&S market, which has surged from $34 billion in 2003-2004 to an impressive ... Read the full article
AIG is selling an additional 30 million of Corebridge shares
31st May 2024
Global insurer, American International Group (AIG) has launched a secondary offering of Corebridge Financial common stock, priced at $29.20 per share. The insurer has offered 30 million existing shares of common stock, out of approximately 608 million total shares of common stock outstanding of Corebridge Financial. These correspond to approximately $876 million ... Read the full article
Axel André named RGA’s new CFO, succeeding Todd Larson
29th May 2024
Life and health reinsurer Reinsurance Group of America (RGA) announced that Axel André will join as Executive Vice President on June 24, 2024, becoming CFO on August 5, while Todd Larson transitions to the role of Special Advisor to the CEO until his retirement on December 31, 2024. Tony Cheng, President ... Read the full article
Gordon Browne to rejoin AIG as Global Head of Specialty
23rd May 2024
Gordon Browne has been appointed Global Head of Specialty at American International Group (AIG), effective June 11, 2024, reporting to Jon Hancock, Executive Vice President and Chief Executive Officer, International Insurance. He will also serve on the International Insurance leadership team. Browne rejoins AIG from Allianz, where he served as Global Head ... Read the full article
AIG to sell Corebridge common stock to Nippon Life Insurance Company
16th May 2024
Global insurer AIG has reached an agreement to sell approximately 120 million shares of its Corebridge common stock to Nippon Life Insurance Company. The selling price of the stock has been decided at $31.47 per share, for an aggregate purchase price of $3.8 billion. The shares represent 20% of the outstanding ... Read the full article
AIG reports Q1 net income of $1.2bn, GI CoR improves to 89.8%
2nd May 2024
In its Q1 2024 results, AIG has reported net income attributable to its common shareholders of $1.2 billion, marking a massive improvement compared to the $23 million recorded in the prior year quarter. According to AIG, the increase in net income was primarily driven by net realized gains on Fortitude Re ... Read the full article
Gero Michel appointed Head of Underwriting Analytics at AIG
25th April 2024
Global insurer AIG recently appointed Gero Michel, previously Group Chief Risk Officer (CRO) of AIG Re, as its Head of Underwriting Analytics based in Bermuda. Michel has been with AIG since early 2020, when he joined the firm's reinsurance arm from Aon to lead the risk office for AIG Re ... Read the full article
AIG announces retirement of David McElroy
22nd April 2024
American International Group, Inc. (AIG), a global insurer, has announced that David McElroy will retire from the group effective May 1st, 2024. The company has confirmed that McElroy and AIG have agreed to accelerate his retirement date for personal reasons and will remain available to the Company. Peter Zaffino, Chairman & Chief ... Read the full article
AIG names Ryan Thomas as Head of Financial Lines, APAC
18th April 2024
American International Group, Inc. (AIG), a global insurer, has appointed Ryan Thomas as the Head of Financial Lines, Asia Pacific, based out of Singapore. Thomas has over 20 years of underwriting experience. The insurer stated that, “Ryan brings a wealth of technical expertise and leadership skills that will be critical in ... Read the full article
AIG’s David Ho joins Everest Insurance Intl. as Head of Financial Lines, Asia
17th April 2024
Everest Insurance International, a division of Bermuda-based insurer and reinsurer, Everest Group, Ltd. has hired American International Group's (AIG) David Ho as Head of Financial Lines, Asia. Overall, Ho brings over 25 years of financial lines underwriting and management experience towards his new role. Previously, he spent 20 years working at AIG, ... Read the full article
AIG announces promotion of Elie Oussi
3rd April 2024
American International Group, Inc. (AIG), a global insurer, has recently promoted Elie Oussi to the position of Senior Financial Lines Underwriter, FAC Reinsurance, GCC & North Africa (NA). In his new role, Oussi will collaborate with clients, insurance companies, and brokers across the Middle East, Africa, Turkey, and CIS countries, offering ... Read the full article
AIG ‘significantly improved’ property cat structure and reinsurance coverage at 1.1 renewal: CEO Zaffino
14th February 2024
Global insurer AIG was able to "significantly improve" its property catastrophe structure and reinsurance coverage provided at the key January 1st, 2024, reinsurance renewals, with Chief Executive Officer (CEO) Peter Zaffino describing the outcome as "tremendous" for the carrier. After reporting a solid set of results for the fourth quarter ... Read the full article
AIG reports stronger general insurance combined ratio as premiums rise in Q4’23
14th February 2024
Global insurer American International Group, Inc. (AIG) has reported slight growth in underwriting income of $7 million for Q4 2023 to $642 million, which included $122 million of total catastrophe-related charges, representing 2.1 loss ratio points, of which $54 million was in North America and $68 million in International. Within the ... Read the full article
AIG adds former National Cyber Director John Inglis to Board
8th February 2024
The Board of Directors of global insurer American International Group, Inc. (AIG) has elected John Inglis to serve as an Independent Director, effective March 1st, 2024. Inglis is a former National Cyber Director. He was also an advisor to the President of the United States, Joe Biden on cybersecurity from 2021 ... Read the full article
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