AIG
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The firm has also promoted Swee Keong Mah to CEO of Everest Insurance Singapore. -
The deal was announced in late May, with RenRe taking over AIG’s treaty business, including AlphaCat Managers, and all renewal rights to Talbot’s reinsurance treaty unit.
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The executive left the company in June following a period of medical leave.
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The departure of the president of North America retail was disclosed in an internal company memo.
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Valencia will drive the carrier’s strategy for portfolios including panels, facilities, MGAs, bancassurance and other forms of delegated authority.
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The move follows another incredibly soft year for the all-risk market as aviation war continues to harden.
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The carrier reported an additional A$70mn reinsurance reinstatement because of higher claims.
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Leahy joins the carrier after just over a year at TMK as divisional head of airline.
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The attack came from a hacking group known as Scattered Spider, an affiliate of the ALPHV/BlackCat ransomware gang.
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A webinar and report from the Geneva Association has explored the barriers and prospects for the growth of blockchain insurance.
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The former general counsel and communications chief will move to the role on 1 October.
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The insurer has been working to build a reputation for favorable reserve development after past sins.
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