AIG

Mark Sperring’s promotion comes just a few months after AIG’s former head of global aerospace, Steve Eccles, left the carrier.

Purtill became interim CFO in January after AIG terminated Mark Lyons, saying the executive violated his confidentiality/non-disclosure obligations to the firm.

Whitehouse’s departure from AGCS was announced earlier this year.

The carrier intends to use the cash raised as part of its consideration for Validus.

The deal is the third scale-up buyout for the firm, highlighting the ongoing value of scale in the reinsurance segment.

The Bermudian reinsurer launched a public offering of 6,300,000 common shares and anticipates raising around $1.15bn to finance the transaction.

The deal represents RenRe’s third Bermuda consolidation deal following Platinum and TMR.

The Dan Loeb-controlled investment firm reduced its position in AIG to 2.95 million shares, or ~0.4%, in Q1, from or 5.1 million shares, or around 0.7%, at the end of Q4.

It emerged in March that Tim Welsh was leaving MS Amlin after almost three decades at the business.

Adam Spicer’s appointment comes after several high-level departures from the carrier.

The company has eroded about half its international catastrophe deductible following New Zealand losses.

Rise Aviation has named the two insurers as the representatives for its all-risk and hull-war reinsurance policies, respectively.