American International Group, Inc. today announced that Jon Hancock has been appointed Chief Executive Officer, International General Insurance. In this role, Mr. Hancock will lead the International operations of AIG’s General Insurance business. He will report to Peter Zaffino, President & Global Chief Operating Officer, AIG, and Chief Executive Officer, General Insurance, and serve on… Continue reading AIG Appoints Jon Hancock Chief Executive Officer, International General Insurance
Tag: AIG
Will A ‘Numbers Guy’ with Insurance DNA Be the Next AIG CEO?
Peter Zaffino sat at 2 World Trade Center poring over financial reports on the morning of Sept. 11, 2001, when the first plane struck a neighboring building. Zaffino, known by colleagues for his laser-like focus, remained at his desk as staff began fleeing. It was not until a fire warden pleaded with Zaffino – who… Continue reading Will A ‘Numbers Guy’ with Insurance DNA Be the Next AIG CEO?
AIG Travel Enhances Travel Assistance App with GeoSure Safety Feature
The AIG Travel Assistance App has been upgraded with a significant new feature through a partnership with GeoSure, developer of the most granular, real-time safety measurement platform available. The app, available for both iOS and Android, now provides business travelers who are insured through a group AIG business travel policy with access to hyper-local safety… Continue reading AIG Travel Enhances Travel Assistance App with GeoSure Safety Feature
AIG Names COO Peter Zaffino as President
American International Group Inc named Peter Zaffino, the executive overseeing a turnaround effort of the company’s general insurance unit, as the company’s president. Zaffino, AIG’s global chief operating officer and chief of its general insurance business, will continue to serve in those roles when he becomes president on Jan. 1, 2020, AIG said. He replaces… Continue reading AIG Names COO Peter Zaffino as President
AIG to Sell 76.6% Stake in Fortitude Re for $1.8 Billion
U.S. insurer American International Group Inc. said on Monday it would sell a major portion of its stake in reinsurer Fortitude Re to buyout fund Carlyle Group and Japanese insurer T&D Holdings for about $1.8 billion. Following the deal, AIG’s stake in the company will drop to 3.5% from about 80%, while Carlyle’s ownership in… Continue reading AIG to Sell 76.6% Stake in Fortitude Re for $1.8 Billion
SEC Probes AIG Unit on Retirement Products for Teachers
The Securities and Exchange Commission is investigating sales and disclosure practices at Valic, a unit of giant insurer American International Group Inc., including the company’s dealings with retirement-plan participants at school districts and universities, according to people briefed on the matter. The inquiry centers on whether incentives in Valic’s compensation structure rewarded representatives for selling… Continue reading SEC Probes AIG Unit on Retirement Products for Teachers
AIG Faces Potential Claim in Elon Musk Defamation Case, Filing Shows
Insurance giant American International Group Inc. may get wrapped up in a defamation case involving billionaire Elon Musk, who has told lawyers representing the British cave diver suing him that he’s financially illiquid, according to a legal filing. An attorney for Vernon Unsworth, who sued for defamation last year after Musk attacked him on Twitter,… Continue reading AIG Faces Potential Claim in Elon Musk Defamation Case, Filing Shows
AIG to Spell Out Cyber Coverage Across Global Commercial Lines
As of January 2020, all of American International Group’s commercial property and casualty insurance policies will begin affirmatively covering or excluding physical and non-physical cyber exposures. AIG says the move addresses market concerns that traditional commercial insurance policies across the industry — from property to general liability — are often silent about cyber coverage. “As… Continue reading AIG to Spell Out Cyber Coverage Across Global Commercial Lines
AIG Appoints Richard Olsen Chief Actuary, General Insurance
American International Group, Inc. announced that Richard Olsen will join the company as Chief Actuary, General Insurance, effective immediately. Mr. Olsen will be based in New York and will report to Mark Lyons, Executive Vice President & Chief Financial Offer, AIG. Mr. Olsen will lead the General Insurance global actuarial organization, with responsibility for aligning… Continue reading AIG Appoints Richard Olsen Chief Actuary, General Insurance
AIG Appoints Jennifer Waldner as First Chief Sustainability Officer
American International Group, Inc. has announced that it has created a position of Chief Sustainability Officer to lead the development and implementation of a company-wide sustainability strategy and appointed Jennifer Waldner to fill the role, effective immediately. Ms. Waldner will report to Thomas B. Leonardi, AIG’s Executive Vice President and Vice Chair, AIG Life Holdings,… Continue reading AIG Appoints Jennifer Waldner as First Chief Sustainability Officer