AIG

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.

Dachille has long led AIG’s investment function, having first joined the company in 2015.

The Insure Our Future network is due to hold “physical and digital actions” in Japan, South Korea, the UK and the US.

The merging brokers have also agreed a two-year non-compete agreement on transferring Willis business.

A smattering of data points and commentary from Q1 analyst calls shows that turnaround efforts are bearing some fruit.

Plus the insurers on-risk for the Colonial Pipeline cyber attack and all the week’s top news.

The total cost of repairs could be as much as $490mn, although the ultimate size of the claim remains unclear.

The carrier’s North American commercial lines unit grew net written premiums by 29% to $2.7bn.

Binding insurers include Chubb and AIG, with reinsurance from Munich Re.

Gerald McDowell will step down from his role after nearly 16 years with the business.