AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

US insurer AIG has appointed Sachin Shah as the chief executive of its Asia-Pacific general insurance business. Mr Shah, who was formerly the president, chairman and chief executive of MetLife Japan, will take up his new role at the end of December, subject to regulatory approval. He will be based in Singapore and report to AIG’s general insurance CEO Christopher…

The importance of a consistent multinational claims service

The importance of a consistent multinational claims service

The importance of a consistent multinational claims service

A consistent claims service is essential for multinational clients wherever in the world a loss occurs. The aim of a claims service in the event of a major catastrophic loss is to minimise the impact of business interruption, preserve brand and reputation, and work closely with all parties involved to get clients’ facilities and operations back up and running as…

Insurance regulation in Africa: CIMA – the benefits and challenges

Insurance regulation in Africa: CIMA – the benefits and challenges

Insurance regulation in Africa: CIMA – the benefits and challenges

Understanding changing insurance markets and regulatory developments is critical to making sure multinational programmes are compliant and competitive, no matter where they are located, and the implications can be challenging. Insurance regulators are increasingly looking to nurture risk capacity, cultivate insurance expertise and retain premiums within their insurance markets – and this can have important consequences for multinational companies, particularly…

AIG appoints North America property chief underwriting officer

AIG appoints North America property chief underwriting officer

AIG appoints North America property chief underwriting officer

Jamie Miller has joined American International Group (AIG) from Swiss Re to become AIG’s North America property chief underwriting officer, general insurance. He will report to Tom Bolt, chief underwriting officer, general insurance, and to Lex Baugh, CEO of North America general insurance. Mr Miller has more than 35 years’ industry expertise and a successful track record leading global teams.…

Multinational insurance: what can go wrong when something’s not right

Multinational insurance: what can go wrong when something’s not right

Multinational insurance: what can go wrong when something’s not right

The fast-paced expansion of regulatory change and corresponding scrutiny worldwide make it increasingly challenging to manage multinational insurance programmes. While regulatory landscapes continuously shift, the need for companies to carefully consider how they structure multinational insurance remains constant. There are many options – ensconcing coverage in multiple local policies, relying on a single global policy, or combining both in a…

EMEA cyber claims escalate in 2017: AIG

EMEA cyber claims escalate in 2017: AIG

EMEA cyber claims escalate in 2017: AIG

AIG’s EMEA division dealt with as many cyber claims in 2017 as the previous four years combined, partly driven by increased claims frequency, according to new figures. The unit said specialist claims staff handled the equivalent of one cyber insurance claim for every working day last year. Ransomware was found to be the major loss driver. It accounted for 26%…

Cyber: Facing a new frontier of risk

Cyber: Facing a new frontier of risk

Cyber: Facing a new frontier of risk

Businesses around the world are beginning to realise the full-scale enormity of cyber risk. This collective realisation is spurring the urgent need for a larger discussion – one that takes place not in IT offices, but in the boardroom. Data breaches are no longer simply an issue for IT staff. Take, for example, the Equifax data breach in May 2017,…