Former Novae CFO joins AIG unit as head of reinsurance

American International Group (AIG) has appointed Charles Fry as head of reinsurance, operations and transformation, general insurance.

Fry previously served as group chief financial officer at Novae Group. He has over 20 years of experience in the re/insurance industry.

Prior to Novae, Fry served as chief operating officer at Guy Carpenter. In addition, he previously worked with Apax Partners on its investment in Travelex Group, where he was the executive responsible for the group’s global reorganisation. From 1999 to 2006, Fry served on the senior management team of Benfield Group, as chief financial officer of the principal operating subsidiary, Benfield Limited. He began his professional career at PwC.

In his new role, Fry will oversee AIG’s global reinsurance, shared services, transformation and administration functions.

He will report to Peter Zaffino, chief executive officer, general insurance and be part of the general insurance executive leadership team.

"Having worked with Charlie in the past, I am confident he brings a valued skill set to these important responsibilities," Zaffino commented. "Charlie has a proven track record of running complex operations, change management projects and profit improvement in the insurance and reinsurance industry. We are very pleased to have Charlie join our team as we continue to grow and transform our business."

Fry added: "I feel privileged to be joining AIG at such an exciting time and look forward to working alongside a group of talented colleagues and contributing to the profitable growth of the business."