Aviva Gets Court Approval to Move Assets to Ireland as Part of Wider Brexit Wave

Article 0 Comments England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for 2259 GMT on March 29, is part […]

AIG Reports Q4 Loss on Catastrophes, Lower Investment Returns

Article 0 Comments American International Group Inc. on Wednesday reported a quarterly loss as the insurer was hit with catastrophe losses and made a lower return on investments in a volatile market. Excluding realized investment gains and losses and some other items, AIG posted a loss of $559 million, or […]

AIG Appoints Bilsby from Talbot as Global Head of Specialty

Article 0 Comments American International Group Inc. announced the appointment of Peter Bilsby as global head of Specialty. In this new role, Bilsby will report to Christopher Townsend, chief executive officer of AIG General Insurance International, with responsibility for the global energy, marine, aviation and credit lines businesses. Since 2016, […]

AIG’s European Restructuring Gets Nod in Final Step of Brexit Preparations

Article 0 Comments American International Group, Inc. announced its European subsidiary, AIG Europe Ltd. (AEL) has received approval from the High Court of England & Wales to transfer its business into two new entities: American International Group UK Ltd. (AIG UK) and AIG Europe SA (AESA) in preparation for the […]

AIG Appoints Aspen Re’s Lillelund as CEO of AIG Europe in Luxembourg

Article 0 Comments American International Group, Inc. announced that Thomas Lillelund will join as chief executive officer of AIG Europe SA. Headquartered in Luxembourg, AIG Europe SA is a new legal entity for AIG’s business in the European Economic Area and Switzerland. The new entity has been established to provide […]

AIG Names Wismer as SVP, Deputy Chief Financial Officer & Chief Accounting Officer

Article 0 Comments American International Group, Inc. has appointed Jonathan Wismer as senior vice president, deputy chief financial officer and chief accounting officer, effective immediately. Wismer will be based in New York and report to Sid Sankaran, executive vice president and chief financial officer. He succeeds Elias Habayeb, who was […]

AIG’s Q2 Profit Drops 17% as General Insurance Fails to Improve

Article 0 Comments American International Group Inc on Thursday reported a 17 percent fall in quarterly profit as its general insurance business failed to show improvement, missing analysts’ expectations. AIG shares fell more than 5.5 percent to $52.15 after hours. Chief Executive Brian Duperreault, who took charge more than a […]

AIG Names McElroy from Arch as CEO of Lexington Insurance Co.

Article 0 Comments American International Group Inc. announced that David H. McElroy will join the company as chief executive officer of Lexington Insurance Co. at a date to be determined. McElroy will lead Lexington Insurance Co. and report to Peter Zaffino, chief executive officer, General Insurance. McElroy will serve as […]

Interest in Crypto Insurance Grows, Despite High Premiums, Broad Exclusions

Article 0 Comments In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You won’t find many ads promoting it or details on company websites offering it. But according to industry insiders, there’s a hot new business that more and more firms are looking to […]

AIG Prepares for Brexit with Authorization of UK, Luxembourg Subsidiaries

Article 0 Comments American International Group Inc. announced the authorization of new insurance companies in the United Kingdom and Luxembourg in preparation for the UK’s exit from the European Union. The formation of the two new units provides clients certainty of uninterrupted UK and European insurance coverage as part of […]