AIG

Hawkins was head of retail distribution at AIG, having joined the insurance giant in 2019, where he was a managing director.

The insurer is also said to have scaled back its cession percentage to between 25%-30%, with final signings still being determined.

The CEO called reinsurance an incumbents’ market, despite the influx of new capital.

Senior management liability underwriters Brady Head and Shelley Norman have left for Berkshire Hathaway.

Allison Barrett has taken over the underwriter’s responsibilities at the carrier.

The carrier has placed its book of primary business into run-off but will continue to write space reinsurance.

Lucy Fato gains an expanded role, as Emily Garbaccio is promoted.

Insurance stocks hurtled upwards on a Biden victory and bullish vaccine news.

Thoughts from our research team on new disclosures on the firm’s proposed break up.

Hotspots include property insurance and excess casualty, where rate increases of over 30% were obtained.

AIG executives revealed that proceeds from the sale would be used to reduce the carrier’s debt leverage.

On Thursday, the carrier reported consolidated operating income of $918mn, higher than last year’s $718mn total and well ahead of the $0.54 a share that analysts predicted.