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AIG Hires XL Group’s Maag as CEO of Europe, Middle East

American International Group Inc. hired Seraina Maag from XL Group Plc to run the Europe, Middle East and Africa region as Chief Executive Officer Robert Benmosche reshapes the insurer’s leadership....

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AIG Lured to Malaysia by Growing Takaful Market: Islamic Finance

American International Group Inc. is plotting its entry into Malaysia’s Islamic insurance market, lured by the country’s economic expansion and an industry that has grown more than fivefold in less...

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Best Affirms AIG and P&C Subs Ratings; Outlook Stable

A.M. Best has affirmed the issuer credit rating (ICR) of “bbb” of American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and the ICRs of “a” of...

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AIG’s 13-Year Wait Gets Longer as Modi Rebuffed: Corporate India

American International Group Inc. has waited 13 years in India to raise its stake in a local venture from a maximum allowed 26 percent. That wait is about to get longer. Opposition lawmakers, during...

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Berkshire Hathaway Hires Two Sr. Execs from AIG Asia – WSJ Report

Berkshire Hathaway has hired two senior executives from American International Group’s Asia operations to boost its insurance business in the region, the Wall Street Journal reported citing people...

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AIG Names Williams VP Communications, Public Affairs for EMEA

American International Group has appointed Rhodri Williams to the newly created role of Vice President for Communications and Public Affairs for Europe, Middle East, and Africa (EMEA) effective January...

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AIG Opens Four New Branches in Oman

American International Group announced the opening of four new branches in the Sultanate of Oman. They are to be located in Nizwa, Ibri, Salalah and Sur, and “will allow AIG to further expand its...

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Indonesia Shariah Insurance Growth Attracts AIG: Islamic Finance

Indonesia’s Islamic insurance industry is expanding three times as fast as Malaysia’s, prompting American International Group Inc. and Sun Life Financial Inc. to seek a broader presence in the nation....

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Willis UK, AIG Launch Automatically Renewing Policy for Mid-Market

Willis Group Holdings and American International Group, Inc. have launched “Evergreen,” described as “an innovative, new approach to insurance that removes the need for annual policy renewal – the...

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Insurers Braced for Claims Surge as 10-Year High Floods Hit India

Insurers from Lombard General Insurance Co. to American International Group Inc. are bracing for a surge in Indian claims to a 10-year high after unprecedented floods last week ravaged Chennai, the...

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Global, Diversified Multiline Insurers Best Placed to Withstand Challenges: S&P

Global, diversified insurers are best positioned to withstand the industry’s top economic and competitive challenges, according to a report published by Standard & Poor’s Global Ratings. Geographic...

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‘Systemically Important’ Label Can Be Avoided: Fitch

Fitch Ratings said that newly established transparency about the designation process for globally systemically important insurers (G-SIIs) could help more to proactively stay off the list in the first...

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AIG Disaster Relief for Tsunami Victims Enters Reconstruction Phase

Now that immediate efforts to assist tsunami victims with housing and food relief are well underway, the AIG Disaster Relief Fund and CHF International are joining together to begin the next critical...

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Willis Towers Watson Launches Cyber Aviation Cover with AIG Collaboration

Willis Towers Watson has introduced CyFly, an insurance solution specifically tailored to cover cyber exposure affecting the airline industry. The recent Willis Towers Watson Industry Risk Index...

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Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,”...

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Days of Cyber Insurers Avoiding Costly Claims May Be Numbered: Expert

Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an...

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AIG Discloses It Could Face Claims from London’s Grenfell Tower Fire

American International Group Inc., the provider of commercial insurance, told regulators it could face claims costs from the Grenfell Tower fire that killed dozens of people in June in London. “Our net...

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Demand for Cyber Insurance in China Expected to Rise After WannaCry Attack: AIG

Demand for cyber insurance from firms in Greater China and elsewhere in Asia is poised to soar, based on inquiries received after the “WannaCry ransomware” attack earlier this year, executives at...

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Banks Seek More Insurance Protection Against Cyber Attacks, Rogue Traders

Banks are increasingly turning to insurance to protect their capital from “operational risks” like cyber attacks and rogue traders, and insurers say they can help safeguard lenders by providing an...

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Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters

Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU...

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