AIG
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The executive, a key lieutenant of group COO Peter Zaffino, is the first of the Duperreault-era management team to leave. -
The move follows the departures of Validus Re CEO Jeff Clements and head of US property underwriting Chris Silvester.
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The reshuffle at AIG is a new step towards the group president and COO succeeding Duperreault as CEO.
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The company confirmed it had bought $500mn of additional catastrophe aggregate.
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AIG turned a $2mn investment loss from its small stake in the ILS manager's funds.
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The renewal rights agreement for the upper middle market personal lines segment reflects AIG’s focus on the high-net-worth policyholders.
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Dow's captive insurer is covered by reinsurers that have included HDI, AIG and Scor.
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The syndicate provides the ILS manager with access to high net worth insurance risk.
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The firm's general insurance CEO highlighted that various reinsurance programmes were expected to cover the firm's gross losses.
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Gero Michel has five years of international cat underwriting experience and most recently spent six months at Aon.
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Lloyd's outgoing performance management director Jon Hancock will take up the role in spring.
