AIG names reinsurance CEO Schaper as global chief underwriting officer

Global insurer  American International Group (AIG) has appointed Christopher Schaper (pictured), currently CEO of AIG Re, as global chief underwriting officer. His appointment will take effect upon the closing of the sale of Validus Re to RenaissanceRe, which is expected to occur in the fourth quarter of 2023. Schaper will report to Peter Zaffino, chairman and chief executive officer of AIG.

Schaper has more than three decades of experience in the insurance and reinsurance industry. He is currently CEO of AIG Re, the global reinsurance business of AIG, as well as CEO of Validus Re and AlphaCat.

Schaper joined AIG in 2019 from Marsh McLennan, where he was CEO of Victor Insurance Holdings, Marsh’s global underwriting MGA. Prior to that, he served as president of Montpelier Re and underwriting chairman of Blue Capital, Montpelier’s capital markets entity.

Previously, he held leadership roles at Endurance Specialty Insurance, including chief underwriting officer and head of reinsurance. Earlier in his career, he had underwriting responsibilities at ERC, a division of GE Capital and at Cigna Insurance. He is a member of the Corebridge Financial board of directors.

Zaffino said: “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. 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.”

Schaper commented: “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.”

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