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
Tag: AIG
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
AIG Names Shane Fitzsimons Global Head of Shared Services
American International Group, Inc. announced that Shane Fitzsimons will join the company as Global Head of Shared Services, effective July 1. Mr. Fitzsimons will be based in New York and report to Peter Zaffino, AIG’s Global Chief Operating Officer and Chief Executive Officer, General Insurance. The Global Head of Shared Services is a newly created… Continue reading AIG Names Shane Fitzsimons Global Head of Shared Services
Ex-AIG Traders Seeking $100 Million in Bonuses Win Ruling
A group of former traders and managers at American International Group Inc. won a London judge’s backing in their battle to obtain $100 million dating back to the financial crisis, after he said that the insurance giant couldn’t put forward “abusive” arguments to block the payments. Judge Andrew Baker ruled Tuesday that the insurer can’t… Continue reading Ex-AIG Traders Seeking $100 Million in Bonuses Win Ruling
Former AIG Employees Get $10 Million in France with More at Stake in U.K.
Two former American International Group Inc. employees won awards totaling about $10 million after French judges chastised the insurance giant for trying to block the payment of bonuses they’d already earned to cover for its huge losses. The Paris court of appeals in March ordered the insurer to pay bonuses worth more than 2 million… Continue reading Former AIG Employees Get $10 Million in France with More at Stake in U.K.
Lloyd’s to Meet with Insurers AIG, Chubb to Boost U.S. Business: CEO
Lloyd’s of London Ltd is meeting with major U.S. insurers about driving more business through its global insurance market, Chief Executive Officer John Neal said on Wednesday. The 330-year-old insurance market, which launched its most recent modernization effort in May, will meet with American International Group Inc on Thursday, and later with Chubb Ltd about… Continue reading Lloyd’s to Meet with Insurers AIG, Chubb to Boost U.S. Business: CEO
AIG Consolidates Assumed Reinsurance Operations to Form Global Business AIG Re
American International Group, Inc. on Wednesday announced the formation of AIG Re, which consolidates the company’s assumed Reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty into one global business. The company also announced that Christopher Schaper has been appointed CEO of AIG Re, effective July 1, 2019. In this new role, Mr. Schaper will… Continue reading AIG Consolidates Assumed Reinsurance Operations to Form Global Business AIG Re
AIG Promotes David McElroy to Lead North America General Insurance Operations
American International Group, Inc. announced that David McElroy, President and CEO of Lexington, has been promoted to President and CEO of the North America operations of General Insurance. Mr. McElroy will continue to report to Peter Zaffino, CEO General Insurance and Global Chief Operating Officer, AIG, and continue to serve as a member of the… Continue reading AIG Promotes David McElroy to Lead North America General Insurance Operations