American International Group announced that Richard Olsen will join the company as chief actuary, General Insurance, effective immediately.
Olsen will lead the General Insurance global actuarial organization, with responsibility for aligning property/casualty pricing, portfolio and reserving practices with the objective of improving underwriting profitability, as well as providing guidance on portfolio optimization to help inform General Insurance strategy.
Olsen brings 30 years of industry experience to AIG. Most recently, he was chief financial officer of Munich Re’s U.S. P&C reinsurance subsidiary, where his responsibilities included financial management, information technology and enterprise risk management for U.S. operations. Previously, he served as head of Central Reserving at Munich Re and spent 21 years with General Re Corp., as senior vice president and actuary for Cologne Re.
Olsen will be based in New York and will report to Mark Lyons, executive vice president and chief financial officer.
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