AIG appoints Tom Bolt CRO of general insurance and names new CUO

AIG’s chief underwriting officer of general insurance Tom Bolt has been named executive vice-president and chief risk officer at the insurer, with Kean Driscoll taking over his former role.

Bolt replaces Sabra Purtill, who was recently named executive vice-president and chief investment officer of AIG’s life and retirement business. He will report directly to AIG’s chairman and CEO Peter Zaffino, and joins the insurer’s executive leadership team.

Bolt has served as chief underwriting officer for general insurance since 2018, after joining AIG from Berkshire Hathaway Specialty Insurance where he was UK and southern Europe CEO. Prior to that, he was director of performance management at Lloyd’s.

His replacement as chief underwriting officer for general insurance, Driscoll, was previously global chief underwriting officer for property and agriculture at AIG, as well as global head of reinsurance strategy for general insurance since 2020.

He will report to David McElroy, executive vice-president and chief executive officer of general insurance.

Driscoll was a founding member of Validus and served as CEO of Validus Re from 2012 until he joined AIG in 2019.

Zaffino said Bolt’s “unique background, experience and stature” will be invaluable as AIG continues to focus on managing complex, operational and global risk issues.

“I look forward to working with Tom in this new role as we refine our risk management framework across our global business,” he said.

On Driscoll, he said: “Since joining AIG in 2018, Kean has been a key contributor to our portfolio management and in shaping our strategic reinsurance structures. As chief underwriting officer, his expertise in underwriting and modelling application will continue to drive momentum as we continue our journey to become a top-performing company.”