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The global insurer will pick up a $650mn portfolio of US casualty business. -
AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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The carrier is consolidating its venture capital activity into asset manager MEAG.
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The move comes as Michael Creighton is made credit and political-risk director for Africa.
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Private capital providers are being signed down as two strong years have piqued interest.
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The London MGA is considering various options, including a minority investor.
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The appointments are aimed at offering a clearer team structure.
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The EUR100mn+ Ebitda firm is courting both PE and trade suitors.
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The hire will lead the firm’s UK and Europe operations.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Reinsurers are willing to concede on pricing, while cyber interest is on the rise.
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The financial services growth strategy could be “turbo-charged” by involving brokers, it said.
