AIG selects new EVP of reinsurance buying

AIG selects new EVP of reinsurance buying

American Worldwide Group (AIG) has introduced the appointment of Charlie Fry as govt vp of reinsurance buying and threat capital optimization, efficient July 31. Fry will report back to Peter Zaffino, chairman and CEO of AIG.

In his new position, Fry will probably be accountable for AIG’s reinsurance buying technique and placement execution, in addition to optimizing capital allocation within the firm’s property-casualty enterprise. He’ll work intently with Shane Fitzsimons, AIG govt vp and chief monetary officer, and Mark Lyons, govt vp, international chief actuary and head of portfolio administration.

Fry first joined AIG in 2017 as international head of reinsurance technique and head of worldwide portfolio administration for normal insurance coverage. After leaving the corporate in 2020, he served as CEO of Acacia Holdings, a Bermuda-based capital funding firm. He beforehand served as group chief monetary officer at Novae Group and international chief working officer at Man Carpenter. He additionally labored with Apax Companions on its funding in Travelex Group. From 1999 to 2006, Fry was a member of the senior administration group at Benfield Group.

“I’m very happy to welcome Charlie again to AIG,” Zaffino stated. “The continued execution of our reinsurance technique is crucial to our progress towards changing into a top-performing firm. Throughout Charlie’s earlier tenure at AIG, he performed a key position in AIG’s underwriting turnaround and established a framework for reinsurance buying and threat and volatility mitigation efforts throughout our portfolio.

“I’ve labored with Charlie for a few years and am assured he’ll make vital contributions to AIG as we progress our deployment of capital and proceed to enhance our risk-adjusted returns.”

“I’m delighted to be rejoining AIG, and it’s a privilege to work as soon as once more with Peter Zaffino,” Fry stated. “AIG is a world chief in threat administration, and I sit up for working with Peter and the broader AIG group at this thrilling stage of the corporate’s transformation.”