AIG

Further resignations were expected after vesting of compensation incentives, following a number of departures from the firm in the past year.

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.

Jessie Ruppe joins from Arch to oversee casualty ceded reinsurance, while two internal promotions will be responsible for financial lines and property cessions.

Marco Vantellino has been appointed MEDI head of financial lines with immediate effect.

Howse most recently spent four years as an oversight manager at Lloyd’s.

Gilmore takes over for David Lynders, who is moving to a senior ceded reinsurance position after three years leading the financial institutions business.

AIG is among four companies dropped from the asset manager’s investment portfolio.

The 11-year Aon veteran most recently served as strategy director and client leader at Aon InPoint.

The information-gathering exercise for large insurers and banks won’t dictate capital requirements.

Sven Wehmeyer, who will remain as CEO of Validus’s Zurich-domiciled reinsurance arm, replaced Steve Bardill as head of international on 1 June.

The central bank governor said such a move would require ‘robust data.

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.