Zurich
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GWP declined to $11.1bn from $11.3bn in the US and to $484mn from $527mn in the rest of the region. -
He succeeds Rob Clark, who was appointed global broker account lead.
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This publication reported yesterday that the two carriers were nearing a deal.
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The disposal is the latest milestone in AIG’s work to reposition itself as a commercial lines insurer.
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The CEO said he is “optimistic” about the future of the commercial space.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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The executive has been with Zurich since 2018.
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The plaintiffs – three former claims adjusters – were each awarded $25mn in punitive damages.
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The executive worked on projects with the firm when he was an investment banker.
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He was most recently cyber product leader at Zurich NA.
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Zurich NA's operating profit grew to $2.65bn in 2023 from $2bn the prior year.
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