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 rebrands freshly acquired Hamilton USA tech-subsidiary
2nd November 2017
American International Group (AIG) has rebranded its newly purchased Hamilton USA technology-focused subsidiary to Blackboard, after having completed its acquisition on October 2nd. The Blackboard vision is to reimagine commercial insurance through digital technology, data analytics, and automation. The name represents a clean slate and alternative solution for those in the industry seeking ... Read the full article
AIG rehires Chris Townsend as CEO, International General Insurance
31st October 2017
American International Group (AIG) has rehired Chris Townsend, who returns after a stint as President of MetLife's Asia region, to act as Chief Executive Officer (CEO) of International General Insurance. He will report to Peter Zaffino, CEO, General Insurance, as a member of the General Insurance Executive Leadership Team and is expected to join ... Read the full article
AIG UK underwrites first Shariah-compliant W&I policy in London M&A market
20th October 2017
AIG UK has underwritten the first Shariah-compliant Warranty and Indemnity (W&I) insurance policy issued in the London M&A insurance market, through Cobolt Underwriting's 'Islamic Window' solution. The buyer of the £5 million W&I policy is a Gulf based financial institution run on Shariah principles, which sought out Shariah-compliant financing to fund ... Read the full article
AIG’s Q3 catastrophe losses could reach $3.1 billion
10th October 2017
Global insurer American International Group, Inc. (AIG) is expecting to suffer a loss in a range from $2.9 billion to $3.1 billion from third-quarter catastrophes, pre-tax but after taking into account its reinsurance arrangements. The insurer estimates losses in ranges from $1.1 billion to $1.2 billion for Hurricane Harvey, $1.0 billion ... Read the full article
AIG and TradeIX partner for blockchain trade finance transactions
5th October 2017
Insurance giant American International Group (AIG) has partnered with specialist technology firm TradeIX to enable firms to access trade finance using a blockchain-enabled platform. AIG and TradeIX have completed the first blockchain-enabled trade finance transaction, for a global logistics company, with financing provided by Standard Chartered plc. AIG, as well as being ... Read the full article
Tokio Marine to acquire AIG medical stop-loss segment
4th October 2017
Tokio Marine HCC has agreed to acquire the medical stop-loss operations of American International Group (AIG) including its renewal rights, in-force business and employees, through its wholly owned subsidiary HCC Life Insurance Company (HCC Life). The acquired business segment produces a gross written premium of about $350 million, increasing Tokio Marine ... Read the full article
AIG hires Charles Fry to head reinsurance & operations in General Insurance
3rd October 2017
Global insurance player American International Group (AIG) has named Charles Fry (most recently of Novae) to the role of Head of Reinsurance, Operations and Transformation, General Insurance, effective immediately. Fry, who was most recently Group Chief Financial Officer at Novae Group plc, will oversee AIG's Global Reinsurance, Shared Services, Transformation and ... Read the full article
AIG welcomes being taken off SIFI list, will benefit from lower expenses
2nd October 2017
Insurance giant American International Group, Inc. (AIG) has welcomed regulators decision to take the company off the list of financial organisations deemed as a Systemically Important Financial Institution (SIFI). AIG had been deemed an organisation of systemic importance due to the insurers market position during the 2008 financial crisis. Since then the ... Read the full article
Duperreault says underwriters should be “part actuary, part data scientist:”reports
28th September 2017
AIG's Chief Executive Brian Duperreault highlighted the changing role of the underwriter as an integral part of re/insurance industries adaptation to the "modern era" of AI and technology, saying they need to become "part actuary, part data scientist," in an interview with Asia Nikkei. The skill set required by underwriters ... Read the full article
AIG re-orgs for the future, Schimek to leave
25th September 2017
Insurance giant American International Group (AIG) said today that it is adjusting its organisational structure, in a move seen as part of its strategy for addressing the needs of its customers and responding to future market opportunities. The company is to move away from its commercial/consumer business divide and as a ... Read the full article
AIG places first Shariah-compliant M&A insurance policy in MENA
19th September 2017
American International Group, (AIG), has placed the first Shariah-compliant insurance policy in the Middle East and North Africa region (MENA) for merger and acquisitions activity, advised by global law firm Norton Rose Fulbright. In partnership with Shariah-compliant managing general agent, Cobalt Underwriting, AIG offers a range of Islamic insurance solutions for ... Read the full article
AIG seeks buyer for $2 billion life portfolio
16th August 2017
Sources told Reuters that American International Group has plans to sell a $2 billion life portfolio, with private equity giant Apollo Global Management being among prospective buyers. Investment bankers at Goldman Sachs Group are allegedly helping AIG unload the life settlement assets, which trigger when sick or elderly customers ... Read the full article
AIG could make better use of softening reinsurance market: Credit Suisse
20th July 2017
Property business is expected to drive much of the medium term underwriting improvement at global insurer American International Group Inc. (AIG), and the firm would be wise to make better use of the softening reinsurance market environment, suggests Credit Suisse analysts. AIG recently announced the appointment of Brian Duperreault as its ... Read the full article
AIG appoints Seraina Macia to CEO of planned subsidiary
14th July 2017
American International Group (AIG) has appointed Seraina Macia as Executive Vice President and Chief Executive Officer (CEO) of a new planned subsidiary, that will be set up to transform the firm's commercial insurance delivery with emerging technology and data science. The appointment is effective immediately, and will see Macia serve on the ... Read the full article
Sonja Ochsenkuehn joins XL Catlin from AIG to lead Global Programs
10th July 2017
The global insurance division of insurer and reinsurer, XL Catlin, has announced the appointment of Sonja Ochsenkuehn from insurer AIG, as Head of Global Programs. Ochsenkuehn has worldwide responsibility for XL Catlin's insurance operations' Global Programs, which are key to the company's offerings to its clients. In fact, XL Catlin explains that last ... Read the full article
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