North America
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The portfolio of InsurTech partnerships will now be overseen by the company’s specialty businesses in the US and UK. -
Sources said AIG is offering some staff guaranteed bonuses and stay packages.
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Banking sources are divided on whether AIG is likely to be able to find a buyer for its life arm.
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The executive had been in the role since 2017 and previously managed the insurer’s global upstream energy book.
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The PE house and the London market wholesaler will submit bids in just over a week.
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The reinsurance start-up could list on the London Stock Exchange in November.
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Liability account move is latest development in ongoing reinsurance buying overhaul.
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The executive moves over in what is likely to be interpreted as preparation for an orderly CEO succession.
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Chris Schaper is to step in as CEO of the unit, as Jeff Clements and Chris Silvester depart.
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The MGA, which writes on paper from Accident Fund Insurance Company of America, uses AI in its underwriting process.
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The appointment follows McElroy’s elevation to global CEO of general insurance at the carrier.
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The airline has said that it does not expect a total loss to the $200mn policy with the aircraft repairable.
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