AIG
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The equity research group says international P&C losses look likely to exceed earlier expectations.
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Hilary Brown most recently served as head of casualty, international for AIG.
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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".
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Jason Rollins, Nadir Durrani, Neeraj Jeswani and Jessica Whiton have joined the carrier.
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The ratings agency said the transaction reduced the carrier’s exposure to higher risk legacy products.
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Carlyle and its investors will own 71.5 percent of the entity, which acquires life and property and casualty assets in run off.
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An unsuccessful appeal against the claim by 23 former UK executives could encourage similar actions by ex-employees in the US.
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The executive said a lockup in retro capacity, linked to Japanese typhoons, will further encourage reinsurers to raise rates.
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Allison Barrett will move to the carrier from a senior financial institutions role at Willis Towers Watson.
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Industry veteran has “never seen anything like it” after admitting AIG was not “addressing the E&S market appropriately”.
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The AIG subsidiary achieved rate rises of 30 percent across commercial D&O while also reducing its portfolio loss exposure.
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