AIG names new CUO

AIG names new CUO | Insurance Business Australia

Insurance News

AIG names new CUO

New underwriting chief is “a results-driven and collaborative leader”

Insurance News

By
Steven Byerley

American International Group (AIG) has announced the appointment of Christopher Schaper (pictured above) as global chief underwriting officer. The appointment is set to take effect after the completion of the previously announced sale of Validus Re to RenaissanceRe, which is expected to be finalized in the fourth quarter of 2023.

In his new role, Mr. Schaper will report to Peter Zaffino, chairman and CEO of AIG.

“Since joining AIG in 2019, Chris has been a results-driven and collaborative leader who has demonstrated a commitment to underwriting excellence, as well as strong portfolio management capabilities and financial acumen,” Zaffino said. “I have worked closely with Chris for many years and look forward to continuing to collaborate with him in his new role as we seek to deliver sustained improvements in our financial results by reinforcing a culture of underwriting excellence, enhancing our core capabilities, and developing next generation risk analytics.”

“It is a privilege to be named to this role, and I look forward to working with Peter and colleagues across AIG to progress our strategic initiatives, particularly as they relate to underwriting excellence,” Schaper said.

Schaper has more than 30 years of experience in the insurance and reinsurance industries. Presently, he serves as the CEO of AIG Re, leading AIG’s global reinsurance business, while also holding the CEO position at Validus Re and AlphaCat.

Before joining AIG, Schaper was the CEO of Victor Insurance Holdings, a global underwriting MGA under Marsh McLennan. He also held prominent leadership roles at Montpelier Re Ltd and Blue Capital, as well as previous underwriting responsibilities at Endurance Specialty Insurance Ltd, ERC (a division of GE Capital), and Cigna Insurance. Additionally, he serves as a member of the Corebridge Financial board of directors.

AIG also recently announced the appointment of Sabra Purtill as chief financial officer.

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