AIG
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Further resignations were expected after vesting of compensation incentives, following a number of departures from the firm in the past year.
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The carrier has agreed to sell a 9.9% stake in its life and retirement business to Blackstone for $2.2bn, in a deal that also involves a $5.1bn sale of property assets.
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Jessie Ruppe joins from Arch to oversee casualty ceded reinsurance, while two internal promotions will be responsible for financial lines and property cessions.
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Marco Vantellino has been appointed MEDI head of financial lines with immediate effect.
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Howse most recently spent four years as an oversight manager at Lloyd’s.
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Gilmore takes over for David Lynders, who is moving to a senior ceded reinsurance position after three years leading the financial institutions business.
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AIG is among four companies dropped from the asset manager’s investment portfolio.
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The 11-year Aon veteran most recently served as strategy director and client leader at Aon InPoint.
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The information-gathering exercise for large insurers and banks won’t dictate capital requirements.
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Sven Wehmeyer, who will remain as CEO of Validus’s Zurich-domiciled reinsurance arm, replaced Steve Bardill as head of international on 1 June.
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The central bank governor said such a move would require ‘robust data.
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The diversification benefits and complementary capabilities Validus affords AIG, along with the parent’s move to split its life and P&C operations, factored into the upgrade.
