AIG appoints chief underwriting officer from Berkshire

American International Group (AIG) has appointed Tom Bolt as chief underwriting officer, general insurance.

Bolt will be responsible for developing a global framework for underwriting standards, authority and structure that is aligned with AIG’s overall risk appetite. He will report to Peter Zaffino, chief executive officer, general insurance. Bolt is expected to join the company in January 2018.

“I am very pleased to welcome Tom to AIG,” Zaffino said. “He is an exceptionally talented leader with deep industry expertise and a proven track record of delivering outstanding financial and operational performance. Tom will bring strong discipline to our underwriting and pricing decisions and will play a key role in building AIG’s data and analytical capabilities to empower our underwriters. I look forward to working with Tom to drive General Insurance’s underwriting strategy and position it for profitable growth.”

Bolt said: “I am excited to be joining AIG at such a pivotal time in its history. I look forward to working with Peter and the General Insurance Executive Leadership Team to define consistent, global underwriting standards that achieve a well-balanced portfolio and deliver strong and sustainable financial performance.”

Bolt has over 30 years of experience in the insurance and reinsurance industry. He joins AIG from Berkshire Hathaway Specialty Insurance, where he was serving as president and CEO of the UK and Southern Europe, and as a member of Berkshire Hathaway International Insurance’s board of directors. Prior to that, Bolt was director of performance management at Lloyd’s of London and managing director of Marlborough Managing Agency at Lloyd’s. Before joining Lloyd’s, he spent 25 years at Berkshire Hathaway in a variety of senior executive roles.

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