AIG

The incoming executive previously spent 17 years at AIG, most recently as head of financial lines for MENA.

AIG leads the placement, WTW is the lead broker, with Marsh support, on the JAL account.

Sources said the executive will join Mitsui Sumitomo in a leadership position based in Brazil.

Getty was appointed to the role in December of last year, having joined Talbot as cyber and technology class underwriter in 2017.

The broker’s global marine team services global premiums of $3.9bn across marine classes.

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.

The executive left the company in June following a period of medical leave.

The departure of the president of North America retail was disclosed in an internal company memo.

Valencia will drive the carrier’s strategy for portfolios including panels, facilities, MGAs, bancassurance and other forms of delegated authority.

The move follows another incredibly soft year for the all-risk market as aviation war continues to harden.

The carrier reported an additional A$70mn reinsurance reinstatement because of higher claims.