American International Group (NYSE: AIG) announced that Christopher Schaper, currently CEO of AIG Re, has been named Global Chief Underwriting Officer of AIG, effective as of the closing of the previously announced sale of Validus Re to RenaissanceRe, which is expected to occur in the fourth quarter of 2023. Mr. Schaper will report to Peter Zaffino, Chairman and Chief Executive Officer of AIG.
Christopher Schaper (Photo: Business Wire)
Mr. Zaffino stated: “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.”
Mr. Schaper stated: “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.”
Mr. Schaper has more than three decades of experience in the insurance and reinsurance industries. He is currently CEO of AIG Re, the global reinsurance business of AIG, as well as CEO of Validus Re and AlphaCat. Mr. Schaper joined AIG in 2019 from Marsh McLennan, where he was CEO of Victor Insurance Holdings, Marsh’s global underwriting MGA. Prior to that, Mr. Schaper served as President of Montpelier Re Ltd and Underwriting Chairman of Blue Capital, Montpelier’s capital markets entity. Previously, he held leadership roles at Endurance Specialty Insurance Ltd., including Chief Underwriting Officer and Head of Reinsurance. Earlier, he had underwriting responsibilities at ERC, a division of GE Capital and at Cigna Insurance. He is a member of the Corebridge Financial, Inc. Board of Directors.
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide insurance solutions that help businesses and individuals in approximately 70 countries and jurisdictions protect their assets and manage risks. For additional information, visit www.aig.com. AIG common stock is listed on the New York Stock Exchange.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
