Duperreault starts to reshape AIG


Duperreault starts to reshape AIG

AIG CEO Brian Duperreault / Source: AIG

American International Group (AIG) CEO Brian Duperreault makes his first major move to reshape AIG and position it for profitable growth.

The $5.56 billion acquisition of Bermuda-based Validus shows that Duperreault’s strategy involves diversifying AIG’s risk exposure, adding reinsurance and a Lloyd’s player to the portfolio.

In May 2017, Brian Duperreault was appointed AIG CEO, resigning from his post as head of Bermuda-based Hamilton Insurance Group.

Duperreault succeeded Peter Hancock, who announced his resignation in March 2017, after the AIG's poor financial performance frustrated shareholders and the board of directors. AIG reported a net loss of $3.04 billion for the fourth quarter of 2016, up from a negative $1.84 billion in the same period of 2015.

AIG, Brian Duperreault, Acquisition, M&A, Validus Holdings, Insurance, Reinsurance, Bermuda, North America

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