People Moves: AIG CEO Zaffino Adds Chairman Role; C&F Names Sussman President of Credit; CRC’s Dadi Joins AXIS

AIG Zaffino Named Chairman as Duperreault to Retire

American International Group announced that Peter Zaffino, president and chief executive officer, will assume the additional role of chairman of the board of directors, effective January 1, 2022.

As previously announced, Brian Duperreault, currently executive chairman, will retire from the board at year end 2021.

Doug Steenland, lead independent director, said Zaffino’s transition into the CEO role in March 2021 was “seamless and the company is performing exceptionally well.” He said Zaffijo’s “leadership is highly respected by the Board, the insurance industry and across the company’s many stakeholders.”

The plan to have Zaffino succeed Duperreault as CEO was announced last October, after Zaffino had taken on the role as president and also become a director. In January 2020, Zaffino took on the title of president from Duperreault.

On February 11, 2021, AIG entered into letter agreements with Zaffino and Duperreault laying out the leadership transition. That agreement with Zaffino provided that he will serve as president and CEO for an initial annual target direct compensation of $17 million.

Zaffino joined AIG as executive vice president and global chief operating officer in July 2017. He assumed the additional role of chief executive officer of AIG’s General Insurance business in November 2017. He joined AIG from Marsh & McLennan Companies, where he was CEO of insurance broker Marsh from 2011 to 2017 and chairman of the Risk and Insurance Services segment of MMC from 2015 to 2017. He was also a member of MMC’s Executive Committee.

Zaffino and Brian Duperreault worked together at Marsh when Duperreault took over the brokerage firm in 2008.

Crum & Forster Appoints Sussman, President of Credit Division

Crum & Forster has named Daniel L. Sussman as president of its Credit division.

In his role, Sussman is responsible for leading C&F’s expanding admitted and surplus lines credit insurance platforms, covering credit risks for North American customers and other select jurisdictions. He also will oversee the strategic partnership with Nexus Underwriting, Ltd. in London – Nexus C&F – which offers an established presence for serving U.K. and Continental European clients.

Sussman joined C&F in 2019 as senior vice president to launch C&F’s Credit group. Under his stewardship, the division focuses on four specialty areas to address financial, operational and strategic corporate risks, including trade credit, multibuyer credit, mortgage risks and alternative risk solutions.

Prior to joining C&F, Sussman was at Ironshore Inc. for nine years, where he founded and served as president of Trade Credit, Political Risk and Special Risk, overseeing underwriting teams in the U.S., London, Dubai, Singapore and Sydney.

He will report to Marc Adee, chief executive officer of Crum & Forster.

AXIS Insurance Appoints CRC’s Dadi to U.S. Excess Casualty Team

AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has appointed Abiy Dadi as vice president of the U.S. Excess Casualty team. Dadi will be responsible for relationships with wholesale distribution partners, new and existing business opportunities, and executing underwriting strategy. He will be based in Alpharetta, Georgia, and will report to Britt Smith, senior vice president, U.S. Excess Casualty.

Dadi joins AXIS from CRC Group where he was most recently an associate broker/assistant vice president. He was responsible for primary casualty and excess liability production and risk placement, overseeing team operations, and training new team members. He began his insurance career at CRC Group in 2012 as an assistant broker.

Topics AIG