Frances is part of the team responsible for managing iVOS and providing technical support for NSS employees both on-site and remotely.
He was 26, fresh out of the U. For example, Duperreault is letting business heads set their own budgets and performance goals, and giving underwriters more autonomy.
Possible targets could include an international life or an employee benefits business. Duperreault and his deputies have been telling staff to be more selective about clients and wind down or revise unprofitable policies. AIG is also buying reinsurance to mitigate losses on old business.
Then he wants to get it growing again.
Since taking the helm, Duperreault has hired more than a dozen senior executives and senior underwriters to help execute his vision. Many have previously worked at AIG.
Last year, AIG reported its lowest revenue and worst loss since the financial crisis, and this year has not been much better. Some on Wall Street welcome his top-tier hirings. Duperreault then headed ACE Ltd. At AIG, Duperreault has also been working to improve relations with regulators.
He also had to win over state insurance regulators for his plan to move discontinued business lines to a separate reinsurance unit in Bermuda, a global insurance hub where the unit has favorable requirements for capital it has to set aside.
State regulators were initially concerned about moving those businesses out of their oversight, but after Duperreault spoke to the regulators and created a new executive-level regulatory affairs position, AIG was able to establish the unit, called DSA Re.
The investment could spur more deals, analysts said. Finding more acquisition targets that meet his criteria has been difficult, Duperreault said. Duperreault is looking for a company in a large market with a mature legal system that does not cost too much.
Was this article valuable?ILAG is a trade body representing members from the Life Assurance and Wealth Management Industries. main a director of the company Mr.
Greenberg succeeds William S. Youngman, who also retired.” At that time, AIG was little more than a shell holding company. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
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See the complete profile on LinkedIn and discover Joseph’s Title: Senior Reinsurance Analyst at AIG. Underwriting Analyst Interview candidates at AIG rate the interview process an overall positive experience. Interview candidates say the interview experience difficulty for Underwriting Analyst at .