AIG
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It is understood that Lyons has been set to retire from the company in the summer of 2023. -
To replace Lyons, AIG appointed Sabra Purtill as interim CFO and Turab Hussain as interim chief actuary.
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Former CFO Mark Lyons will step in as interim CFO, in addition to his current role as EVP, global chief actuary and head of portfolio management.
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Chris Collins will report into Simon Abbott in his new role, and will help the carrier expand its airline portfolio.
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The carrier is re-staffing its hull team following three personnel exits last year.
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The two insurers are believed to provide in excess of 20% of the cat MGA’s capacity.
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The CEO’s annual salary and short- and long-term incentive targets have increased.
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Since joining the company in 2017, the executive has helped to spearhead a turnaround in performance for the carrier.
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Peter Zaffino said AIG expected to able to source similar levels of reinsurance capacity as currently given its relationships with counterparties.
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The firm’s North America CoR deteriorated 8.3 points to 114%, but the international division’s CoR improved 13.3 points to 81.4%.
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Court documents also revealed that 101 of AerCap’s 116 planes in Russia have been re-registered.
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Charles Tinworth and Abigail Paterson are set to join the property team as senior underwriter and underwriter, respectively.
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