Posts Tagged
AIG
Peter Zaffino Appointed President of AIG
American International Group (AIG) in December 2019 announced that Peter S. Zaffino has been named President of AIG. He will continue to serve as Global Chief Operating Officer (COO) of AIG and Chief Executive Officer (CEO) of General Insurance. Mr. Zaffino joined AIG as Executive Vice President and Global COO in July 2017 and assumed the additional role of CEO of AIG’s General Insurance business in November 2017. He
AIG Appoints Jennifer Waldner as First Chief Sustainability Officer
American International Group (AIG) in July 2019 announced that it has appointed Jennifer Waldner to the newly created a position of Chief Sustainability Officer. She will lead the development and implementation of a company-wide sustainability strategy, reporting to Thomas B. Leonardi, AIG’s Executive Vice President and Vice Chair, AIG Life Holdings. Ms. Waldner will lead a “cross-functional team to drive global sustainability initiatives while influencing and mobilizing the execution
Adam Winslow Interim CEO at AIG Life
AIG has named Adam Winslow as Interim Chief Executive Officer of its global Life Insurance business, effective in June 2019. He is based in London, UK; Nashville, TN; and Houston, TX, and is responsible for AIG’s global life business (US and international). He also is a member of AIG’s Life and Retirement Executive Team. Winslow has been with AIG since 2013 when he was brought on board as Executive
AIG Sells Entire Stake in PICC, China
American International Group (AIG) in April 2019 announced it had sold its entire stake in People Insurance Co. of China (PICC) for HK$3.8 billion (US$482 million). AIG had bought into PICC as a “cornerstone investor” in its initial public offering in December 2012. According to Bloomberg, AIG made a 1.75% profit including dividends over the six years, when Hong Kong’s benchmark Hang Seng Index generated a total return of
Betsy Palmer Appointed as SVP at AIG Life & Retirement
American International Group (AIG) in March 2019 announced the appointment of Betsy Palmer as Senior Vice President and Chief Marketing Strategy, Communications and Industry Leadership Officer, AIG Life & Retirement. She will be based in New York and will report to Kevin Hogan, Chief Executive Officer, Life & Retirement, as a member of the Life & Retirement Executive Team. Ms. Palmer will assume responsibility for all marketing, communications, stakeholder
Adam Winslow Chairman AIG Global Benefits Network
Adam Winslow in January 2019 was elected Chairman of the Board of the AIG Global Benefits Network (AIG GBN) pooling network, succeeding Frank Schmid who remains a member of the Board while assuming new responsibilities within AIG. Adam in June 2018 became CEO, International Life and Retirement at AIG, a position he retains. Earlier, Adam held positions at AIG in France, South Africa, and the UK, both in life
Edward Levin Global Head of Accident and Health at AIG
American International Group (AIG) in January 2019 named Edward Levin global head of accident and health (A&H), general insurance. He is based in London, UK, and reports to Christopher Townsend, CEO of AIG International General Insurance. Levin joins AIG from Chubb where he served most recently as Group Digital Business Officer, and earlier as Division President of International A&H. Previously he spent four years at ACE Europe as Executive
Adam Winslow Chairman AIG Global Benefits Network
Adam Winslow in January 2019 was elected Chairman of the Board of the AIG Global Benefits Network (AIG GBN) pooling network, succeeding Frank Schmid who remains a member of the Board while assuming new responsibilities within AIG. Adam in June 2018 became CEO, International Life and Retirement at AIG, a position he retains. Earlier, Adam held positions at AIG in France, South Africa, and the UK, both in life
Malakoff Médéric Humanis Merger Complete – France
French social protection group (SPG) Malakoff Médéric Humanis (MMH) in January 2019 arose from the merger of the two former Malakoff-Médéric and Humanis SPGs. As the new French market leader in group life and health insurance (market share 17%), MMH has 426,000 corporate clients with 10 million people insured. Furthermore, it is the recommended employee benefits provider for 93 professional sectors, a significant competitive advantage. In pensions, MMH has
AIG Acquires UK Group Risk Insurer Ellipse
American International Group (AIG) in December 2018 announced that it has completed the acquisition of Ellipse, a specialist group life, critical illness and income protection carrier in the UK, from Munich Re. Ellipse CEO Lee Lovett reports to Adam Winslow, CEO, International at AIG Life & Retirement. AIG expects Ellipse’s expertise in group protection and its technology to significantly enhance existing AIG Life operations. AIG Life will now distribute
Philip Willcock New CEO AIG Life UK
AIG Life Limited (UK) in December 2018 announced the appointment of Philip Willcock as CEO, effective March 1, 2019. He will be based in London and report to Adam Winslow, CEO, International, Life & Retirement. Willcock spent over 20 years with Aviva holding various senior positions in the UK life & health businesses. Most recently, he was CEO and President of Aviva’s joint venture in Indonesia and CEO of
Brexit Restructure Approved – AIG
AIG in October 2018 received approval from British courts for its European subsidiary, AIG Europe Limited (AEL) to transfer its business into two new entities: American International Group UK Limited (AIG UK), based in London, UK, and AIG Europe SA (AESA) in preparation for Brexit. AESA’s headquarters are in Luxembourg City, Luxembourg, and has 21 branches across the European Economic Area and Switzerland. It is led by Christophe Nicolas
AIG Acquires Glatfelter Insurance Group
American International Group (AIG) in September 2018 acquired Glatfelter Insurance Group, a Pennsylvania-based full-service broker and insurance company that provides services for specialty programs and retail operations. Headquartered in York, Pennsylvania, Glatfelter “brings high-quality program underwriting capabilities that will accelerate the strategic positioning of AIG’s general insurance business,” AIG said in a statement. Glatfelter is a large privately owned U.S. insurance broker and has more than 500 employees. Its
The Brexit Insurance Relocation Tally
Insurer – Country of Destination – Date Announced – Source MS Amlin – Brussels – 28 June 2017 – Press release Lloyd’s of London – Brussels – QBE – Brussels – CNA Hardy – Luxembourg – RSA – Luxembourg – AIG – Luxembourg – FM Global – Luxembourg – Hiscox – Luxembourg – Liberty Mutual, Special Markets – Luxembourg – Admiral – Dublin – Beazley – Dublin – Chesnara –
Thomas Lillelund Appointed CEO of AIG Europe
AIG in August 2018 announced the appointment of Thomas Lillelund as CEO of AIG Europe, based in Luxembourg and reporting to Chris Townsend, CEO, International General Insurance. He will be responsible for Continental Europe and Ireland. Anthony Baldwin, now CEO of AIG Europe Limited, will become CEO of AIG’s new UK entity, American International Group UK Limited, and will continue to report to Townsend. Headquartered in Luxembourg, AIG Europe
AIG Life Acquires UK Group Risk Carrier Ellipse from Munich Re
American International Group (AIG) and Munich Re in June 2018 announced that AIG Life Ltd. (AIGLL), a UK subsidiary of AIG Life & Retirement, has agreed to acquire Ellipse, a specialist provider of group life risk protection in the UK, from Munich Re. Ellipse’s group protection products, which include life, critical illness and income protection, along with its technology-enabled business model with high levels of straight through processing (STP),
Adam Winslow New CEO International, AIG Life & Retirement
AIG Life & Retirement, a division of AIG, in June 2018 announced the appointment of Adam Winslow as CEO, International. Winslow is now CEO of AIG Life Limited (U.K.), where he has led the business since its acquisition by AIG in 2015. In his new role, Winslow will lead AIG Life and Laya Healthcare in Ireland. He will also support potential further international expansion opportunities. Adam will continue to
AIG expands into pension risk transfer market
AIG, after reaching agreement on the two largest plan termination transactions of 2017, in June 2018 announced that it has further expanded its presence in the pension risk transfer market. The two transactions, entered into by American General Life Insurance Company, part of AIG’s Life & Retirement business, represented over $1.5 billion in pension plan obligations covering more than 24,000 retirees, beneficiaries, deferred and active members. Pension risk transfer
AIG Global Benefits Network Annual Partners’ Meeting
The AIG Global Benefits Network Annual Partners meeting was held on 14 September 2017, in Paris, France. The meeting focused on AIG’s global strategy, with extensive discussion on the effects of the global economy on the insurance industry.
Brexit – AIG Splits European Business Between Two New Entities
In the wake of Brexit, AIG in April 2018 announced it has established and received authorization for new insurance companies in the U.K. (American International Group UK Limited) and Luxembourg (AIG Europe S.A.). AIG Europe S.A. will have branches across the European Economic Area and Switzerland. The existing carrier, AIG Europe Limited, will transfer all of its existing insurance business to the new entities well ahead of the U.K.
AIG becomes sole owner of AIG Global Benefits Network
AIG in December 2017 became the sole owner of the AIG Global Benefits Network (AIG GBN). By way of background, through one of its units, AIG in mid-2015 had acquired a controlling 50%+1 stake in the former ING network. Two years later, the two minority shareholders of AIG GBN, Malakoff-Médéric of France and NN (formerly ING) of The Netherlands, sold their respective stakes. The move confirms AIG’s commitment to
Tokio Marine HCC Acquires US Medical Stop-Loss Writer From AIG
Tokio Marine HCC in October 2017 acquired the medical stop-loss operations of AIG through its wholly owned U.S. subsidiary, HCC Life. The deal includes renewal rights, inforce business and employees. The acquired operations produce gross written premium of approximately $350 million and increase Tokio Marine HCC’s medical stop-loss business to over $1.3 billion of premium, making it one of the top three largest players in the medical stop-loss industry,
AIG Changes Its Organizational Structure
American International Group (AIG) in September 2017 announced changes to its organizational structure. AIG will no longer have Commercial and Consumer segments, and will transition to: General Insurance, led by Peter Zaffino, currently Group COO, as CEO; Life & Retirement, led by Kevin Hogan, currently CEO of Global Consumer Insurance, as CEO; and a stand-alone, technology-enabled platform, led by Seraina Macia as its CEO. The platform “aims to transform
AIG Appoints Peter Zaffino as Global Chief Operating Officer
American International Group in August 2017 appointed Peter Zaffino as Executive Vice President, Global Chief Operating Officer, reporting to CEO Brian Duperrault. Zaffino joins AIG after serving as Chief Executive Officer of Marsh, a subsidiary of Marsh & McLennan Companies (MMC) and as Chairman of the Risk and Insurance Services segment of MMC. He was also a member of MMC’s Executive Committee. Brian Duperreault, who joined AIG in May
Brian Duperreault named President and CEO of AIG
American International Group in May 2017 announced the appointment of Brian Duperreault as President, Chief Executive Officer and Director. Duperreault previously served as Chairman and CEO of Hamilton Insurance Group, a Bermuda-based holding company, with property and casualty insurance and reinsurance operations in Bermuda, the U.S. and the UK. Prior to this, he was President and Chief Executive Officer of Marsh & McLennan Companies. Before joining Marsh, he served for two years as non-executive Chairman of ACE,
AIG and IBM deliver first blockchain-based multinational insurance policy
American International Group (AIG), IBM, and Standard Chartered Bank, in June 2017 announced they have successfully piloted the first multinational “smart contract”-based insurance policy using blockchain, a distributed ledger technology. The three parties chose to execute this initiative in one of the most complicated areas of commercial insurance – multinational risk transfer – to better understand blockchain’s potential to reduce friction and increase trust in other areas of the
FWD Group Completes Acquisition of AIG Fuji Life Insurance Company in Japan
FWD Group in May 2017 announced it had completed the acquisition of American International Group (AIG)’s Japanese subsidiary AIG Fuji Life Insurance Company. The acquired business intends to trade as FWD Fuji Life Insurance Company. It is to be led by current AIG Fuji Life CEO Norio Tomono, reporting to Huynh Thanh Phong, FWD Group’s CEO. AIG Fuji Life Insurance Company is the AIG Global Benefits Network partner in