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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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AIG Consolidates Assumed Reinsurance Operations To Form AIG Re

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June 21, 2019

American International Group, Inc. (AIG), has formed AIG Re to consolidate its reinsurance operations (Validus Re, AlphaCat, and Talbot Treaty) into one global business.

AIG has appointed Christopher Schaper as CEO of AIG Re, effective July 1, 2019. Based out of Bermuda, Mr. Schaper will oversee implementation of AIG's global assumed reinsurance strategy and will report to Peter Zaffino, president and CEO of AIG General Insurance and global chief operating officer.

"Building on our efforts to position AIG as an industry leader, Chris will lead AIG Re's delivery of differentiated value to our clients through the creation of new pools of risk and the deployment of alternative capital," said Mr. Zaffino. "Chris' deep reinsurance expertise and industry relationships will accelerate the execution of our strategy for AIG Re. I look forward to welcoming Chris to AIG."

Mr. Schaper brings to AIG more than 3 decades of experience in the insurance and reinsurance industries. He joins AIG from Marsh, where he was CEO of the managing general agent businesses since 2016. Prior to that, Mr. Schaper served as president of Montpelier Re, Ltd., and underwriting chairman of Blue Capital, Montpelier's capital markets entity.

Previously, Mr. Schaper held several leadership positions at Endurance Specialty Insurance, Ltd. Earlier in his career, Mr. Schaper held roles at Gerling Global Financial Products, Employers Reinsurance Corporation (a division of GE Capital), CIGNA, and USF&G.

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