AIG hires former Connecticut insurance commissioner

American International Group (AIG) has appointed former Connecticut insurance commissioner Thomas Leonardi as executive vice president, government affairs, public policy and communications.

Leonardi joins AIG from Evercore, where he was senior advisor to the firm’s investment advisory business with a focus on the insurance industry. Prior to that, he was head of the Connecticut Insurance Department, a regulatory agency with jurisdiction over one of the largest insurance industries in the United States.

For 22 years prior to his appointment as commissioner, Leonardi was founder, chairman and chief executive officer of Connecticut-based Northington Partners, an NASD broker dealer, venture capital, private equity and investment banking boutique that specialized in the insurance industry. Before Northington, he was head of the investment banking and venture capital divisions of Conning & Company, and president of Beneficial Corporation’s insurance subsidiaries.

Leonardi has also served as a member of the executive committee of both the National Association of Insurance

Commissioners and the International Association of Insurance Supervisors. He was a member of the US Treasury’s inaugural Federal Advisory Committee on Insurance, and was selected to serve on the World Economic Forum’s Global Council on Insurance and Asset Management.

At AIG, Leonardi will report to chief executive officer Brian Duperreault and will oversee AIG’s global public policy and government affairs and build clear lines of communication with the numerous regulators that oversee AIG at the state, federal and international levels. He will work closely with executive vice president and general counsel Lucy Fato, who will continue to oversee global regulatory matters in addition to the company’s legal and compliance departments. He will also provide oversight of the corporate communications and marketing function.

"Tom’s unique set of experiences across the insurance industry will benefit AIG in countless ways," said Duperreault. "I served alongside Tom on the Board of the Federal Advisory Committee on Insurance, and I know him to be both an excellent businessman and accomplished entrepreneur. His knowledge of the insurance industry and the regulatory environment gained during his time in the private and public sectors will be an asset to AIG as we position the company for future growth."

Leonardi commented: "I look forward to joining the exceptional team at AIG. While at Evercore, I had the opportunity to work as an advisor to AIG so I understand where the company has been and more importantly, the potential for its future. I’m encouraged by the changes that Brian has already put in motion so early in his tenure, and I look forward to being part of AIG’s next chapter as a leader in the industry."

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Other stories from Wednesday's email newsletter

Hurricane losses hit XL’s Q3 results hard

WR Berkley pleased by results despite Q3 cat losses

Hiscox appoints LV= exec as new chief investment officer

Brit bolsters cyber and tech unit with Nationwide hire

Beazley adds non-executive director to board

Chancery Capital hires head of underwriting

Don't miss our insurtech email newsletter - sign up today