AIG News

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

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 …

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

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 …

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

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 …

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

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 …

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

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 …

AIG Completes $5.5 Billion Acquisition of Validus

American International Group Inc. said it has completed its acquisition of Bermuda reinsurer and specialist insurer Validus Holdings. The $5.56 billion all-cash transaction was first announced in January, about eight months after Brian Duperreault took over at AIG as president …

Insurer Must Defend Bill Cosby Defamation Suits, Court Says

A federal appeals court says an insurance company must pick up Bill Cosby’s tab to fight defamation lawsuits brought by women who accused him of sexual misconduct. But the ruling by the 1st U.S. Circuit Court of Appeals in Boston, …

AIG Prepares for Brexit with Authorization of UK, Luxembourg Subsidiaries

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 …

Ex-AIG Execs Kick-Off New High Net Worth Insurer Vault in Florida

It was a no-brainer for former thought-leaders from AIG to set up shop for their new high net worth insurer in the Sunshine State, a state known for beautiful beaches, a growing economy and lots of wealthy individuals. A pull …

Marsh’s Dandridge Joins AIG as Marketing, Communications Head for General Insurance

American International Group said Ed Dandridge will join the company as head of Marketing and Communications, General Insurance, effective April 16. In this role, Dandridge will be responsible for General Insurance’s global marketing and communications strategy and programs. General Insurance …