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 appoints Adam Burk as Global Treasurer & Head of Corporate Development
8th July 2024
Global insurer American International Group (AIG) has announced the appointment of Adam Burk as Global Treasurer and Head of Corporate Development, alongside his current role as Head of Corporate Development. Burk will continue reporting to Sabra Purtill, Executive Vice President and Chief Financial Officer of AIG. In his expanded role, Burk will ... Read the full article
The Mutual Group appoints Brett Humphrey as SVP & CFO
27th June 2024
The Mutual Group, an integrated insurance operations platform serving the mutual industry, recently announced the appointment of Brett Humphrey as Senior Vice President (SVP) & Chief Financial Officer (CFO). Humphrey, who has nearly 20 years of leadership experience in global financial services, will lead high-performing finance organisations within The Mutual Group. In ... Read the full article
AIG to sell its personal travel insurance & assistance business to Zurich
26th June 2024
Global insurer American International Group, Inc. (AIG) has entered into a definitive agreement with Zurich Insurance Group to sell the latter its global individual personal travel insurance and assistance business for $600 million in cash plus additional earn-out consideration. The sale is expected to close by the end of 2024, subject ... Read the full article
Assurex Global welcomes Prudent Insurance Brokers to its partnership
19th June 2024
Assurex Global, a private commercial insurance, risk management, and employee benefits brokerage group, has announced the addition of Prudent Insurance Brokers Pvt. Ltd., based in Mumbai, India, to the Assurex Global Partnership as of May 1. Established in 2005, Prudent Insurance Brokers began as an intermediary for TATA-AIG General Insurance Co. ... Read the full article
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
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