AIG swoops for Big Four accounting firm chief in push for ‘transparent’ ESG

Global insurance conglomerate  American International Group (AIG) has hired the chief economist of a Big Four accounting firm in a bid to push “transparent” environmental, social and governance (ESG) efforts at the business and drive change in the insurance industry.

The hire is said to be an expert in macroeconomic and industry analysis and is recognised for being among the first economists to forecast pivotal economic events, including the impacts of COVID-19 on US and other global economies, the 2007 real estate and credit crisis and the 2001 burst of the Dotcom bubble.

ESG principles are gaining growing importance to insurers, as they look to address climate change in the global economic and environmental ecosystem. Insurers have a key role to play in this regard, being risk carriers, asset managers and institutional investors.

AIG has outlined its commitment to demonstrating greater transparency in disclosing how the company aligns its sustainability efforts and adapt ESG risks and opportunities in its operations.

Constance Hunter (pictured) will join the company as executive vice president, global head of strategy & ESG in early 2022. She will report to Peter Zaffino, president and chief executive officer, and will join AIG’s executive leadership team.

Hunter joins AIG from KPMG, where she has served as chief economist since 2013 and as a member of the growth and strategy leadership team since 2020. Prior to that, she served as deputy chief investment officer at AXA Investment Managers, where she helped lead the management of over $500 billion in fixed income assets.

Zaffino said: “I am very pleased to add someone of Constance’s caliber to our leadership team. She brings a data-driven mindset and deep economic insights informed by a broad view that will enhance our ability to anticipate and analyse market trends, capitalise on strategic opportunities, and continue to drive profitable growth. Constance has a unique understanding of the critical role corporations like ours play in the global economic and environmental ecosystem, particularly in addressing climate change by advising businesses as they transition to sustainable energy solutions.”

Hunter commented: “I am excited to join AIG at such a pivotal time and to contribute to a transformation that is building focused, profitable growth for the company and delivering sustainable value to its stakeholders. I share AIG’s commitment to transparent ESG leadership and to being an agent of change in our global communities.”

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