AIG

AIG's head of global specialty business Peter Bilsby has left his post and will be replaced on an interim basis by global head of energy and construction Gordon Browne.

AIG’s decision to exit the surety market illustrates that the re-underwriting wheels continue to turn at the carrier as it looks to dampen underwriting volatility and move away from its previous “large-limits strategy”.

Sources said Island Express Helicopters holds a $50mn hull and liability insurance policy.

The AIG executive urged carriers to be "part of the solution" and help customers transition to cleaner energy.

The Asia Pacific CEO’s departure from the general insurance division follows the exit of Chris Townsend earlier this month.

Speculation linking AIG with a bid for Voya highlights the competing operating and capital allocation challenges facing company in 2020.

The US insurer was one of several firms believed to have courted the retirement plan provider last year.

The equity research group says international P&C losses look likely to exceed earlier expectations.

Hilary Brown most recently served as head of casualty, international for AIG.

Move will be seen as a confirmation that the former MMC exec will ultimately succeed Duperreault.

Speaking during a conference in New York, the executive said said P&C pricing into 2020 would remain “disciplined".

Jason Rollins, Nadir Durrani, Neeraj Jeswani and Jessica Whiton have joined the carrier.