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.

European floods will hit reinsurers harder than Ida: AIG’s Zaffino

14th September 2021

AIG Chief Executive Officer (CEO) Peter Zaffino has suggested that the July flooding across Europe will likely “hit the reinsurance market more than Hurricane Ida.” Speaking during an interview as part of a recent KBW virtual insurance conference, Zaffino said that it remains too early to judge what the eventual loss ... Read the full article

AIG names Zaffino as Chairman of the board

8th September 2021

American International Group has appointed Peter Zaffino, current President & Chief Executive Officer, as Chairman of its Board of Directors. As previously announced, Brian Duperreault, currently Executive Chairman, will retire from the Board of Directors at the end of the year. Doug Steenland, Lead Independent Director commented: “The AIG Board of Directors ... Read the full article

AIG adds Ciara Brady as International Casualty CUO

1st September 2021

AIG has appointed Ciara Brady to serve as Chief Underwriting Officer for International Casualty, a role that's effective immediately and sees her succeed the now-retired Patrick Mailloux. Brady joins AIG from Allianz Global Corporate & Specialty in Zurich, where she served as Global Head of Liability since 2019. Prior to her time ... Read the full article

AIG Life & Retirement announces two senior promotions

17th August 2021

AIG Life & Retirement,  a division of global insurer AIG, has appointed Bryan Pinsky as President, Individual Retirement along with Tim Heslin who has been appointed as President, US Life Insurance. Pinsky and Heslin will contine to report directly to Todd Solash, Chief Executive Officer, Individual Retirement and Life Insurance. Pinsky joined ... Read the full article

AIG reports Q2 net income of $91mn; solid GI underwriting result

6th August 2021

American International Group, Inc. (AIG) has reported net income of $91 million for the second quarter of 2021 versus a loss of $7.9 billion a year earlier, supported by a strong underwriting result in General Insurance (GI), lower cat losses, and higher investment income. The main driver of the improvement is ... Read the full article

AIG names Sabra Purtill as EVP, Chief Risk Officer

30th July 2021

Global insurance carrier, American International Group, Inc. (AIG) has announced that Sabra Purtill will serve as Executive Vice President (EVP), Chief Risk Officer (CRO), based in New York. Purtill has been serving as interim CRO for the company since February 2021 and now takes on the position in full, reporting to ... Read the full article

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