AIG completes giant casualty treaty; Swiss Re leadsAIG got its new core US casualty quota share home at around the targeted 50 percent placement level it had targeted after securing widespread support from major reinsurers including heavyweights Swiss Re and Munich Re, The Insurer can reveal.
AIG details Lexington repositioning for middle market growthAIG has outlined changes at its Lexington operation that will see a refocus on more traditional excess and surplus lines (E&S) business with core property and casualty products largely distributed by wholesale brokers.
AIG completes acquisition of Ellipse from Munich ReUS giant AIG has completed its takeover of UK life insurer Ellipse from Munich Re.
Beggs to lead Munich Re’s E&S insurance driveJill Beggs will oversee Munich Re’s expansion into the US excess and surplus lines (E&S) market under the umbrella of the newly formed specialty insurance unit led by Mike Kerner, The Insurer can reveal.
Argo Group unveils senior management restructureFormer AIG executive Matt Harris will lead Argo Group’s international operations as part of a wider restructure that also gives an elevated role to the head of the Americas, Kevin Rehnberg.
Power out at AIG’s LexingtonMatt Power is set to officially part company with AIG’s excess and surplus lines (E&S) platform Lexington at the end of this month, The Insurer can reveal.
AIG adds Price from Arch as exec build out continuesAIG has continued its senior management overhaul with the hire of Michael Price from Arch as deputy chief underwriting officer (CUO) of its general insurance (GI) business, The Insurer can reveal.
AIG to be hit with up to $800mn cat bill in Q4US insurance giant AIG has said it expects to incur a cat bill in the region of $750mn to $800mn on a pre-tax basis in the fourth quarter.
AIG swoops on MetLife Japan for Asia Pacific CEOAIG has appointed Sachin Shah CEO of Asia Pacific, AIG General Insurance.
AIG promotes Lyons to CFO replacing SankaranAIG has promoted Mark Lyons to the role of executive vice president and chief financial officer.
AIG’s post-Brexit unit given stable outlook by AM BestAIG UK has been assigned a stable outlook by ratings agency AM Best.
The storm before the calm…The Insurer was in Bermuda last week and the weather was a perfect metaphor for the mood among (re)insurers.
Marriott to rival Merck as largest-ever affirmative cyber lossProperty Claim Services (PCS) has designated the Marriott cyber hack as a designated event amidst speculation that the hotel group’s cyber coverage could be in the region of $300mn.
AIG sets 35% cede on groundbreaking environmental QSAIG has sent firm order terms (FOTs) for its environmental quota share to reinsurers with a 35 percent cede, Re-Insurance revealed yesterday to its premium subscribers.
AIG’s 25% giant casualty cede could be a watershed moment...The firm order terms (FOTs) on AIG’s huge core US casualty quota share may be seen as a watershed moment for reinsurers and their prospects of improving economics at the upcoming 1.1 renewal.
AIG sets 25% cede on giant casualty QSAIG and its broker Aon have put out firm order terms (FOTs) on the insurer’s new core US casualty quota share that include a 25 percent ceding commission and 1 percent brokerage, Re-Insurance can reveal
AIG closes Fortitude Re stake sale to The Carlyle GroupAmerican International Group has closed the sale of its 19.9 percent stake in Fortitude Re to private equity house The Carlyle Group.
AIG FP execs entitled to bonuses that could reach £2.67bnFormer executives in AIG’s controversial derivatives trading division that was blamed for the insurance giant’s near collapse in 2008 are entitled to contractual bonuses that could in theory extend to £2.67bn.
Berkshire Hathaway’s modest Q3 cat bill of $372mn a fraction of rivalsAfter a 2017 cat loss bill of $3bn, Berkshire Hathaway’s 3Q 2018 modest cat losses of $372mn are a fraction of rivals, such as AIG’s hefty $1.62bn and Swiss Re’s $1.1bn.
AIG reshapes programs portfolio with further cullThe scheduled completion of AIG’s Glatfelter Insurance Group acquisition next week comes during a dramatic overhaul of the insurer’s US program business, Re-Insurance can reveal.