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Specialty CUOs Andrew Wright and Mark Clements, and reinsurance CUO Phil Wooldridge step down as the newcomer is charged with “repositioning”. -
The reshuffle at AIG is a new step towards the group president and COO succeeding Duperreault as CEO.
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Warren Buffett’s reinsurance business fell to a $1.1bn loss as Covid-19 and prior-year casualty losses hit the result.
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The Australian carrier is also drawing down on other aggregate covers.
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Lawyers are diligent in finding avenues to bring litigation against insurers, FedNat’s CEO Michael Braun told analysts on Thursday.
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Major losses from natural catastrophes were comparatively low at EUR167mn for the quarter.
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Axa estimated its total 2020 impact from Covid-19 for the group at EUR1.5bn, which it booked in the first half.
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The retro vehicle has only picked up a small share so far but this will grow.
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The P&C business posted a EUR167.9mn underwriting deficit on EUR380mn in Covid-19-related losses.
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The company confirmed it had bought $500mn of additional catastrophe aggregate.
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The departure comes after a 21% contraction in GWP at the unit in H1.
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Sussex and Versutus investors narrowed their loss from H1 2019.
