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AIG Appoints Tom Bolt Executive Vice President and Chief Risk Officer, AIG
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
American International Group (AIG) announced the appointment of Tom Bolt as Executive Vice President and Chief Risk Officer, effective immediately. He replaces Sabra Purtill, who now serves as Chief Investment Officer for AIG’s Life & Retirement business. Bolt, with over 35 years of experience, has been pivotal in AIG’s General Insurance turnaround since joining in 2018. Additionally, Kean Driscoll has been appointed Chief Underwriting Officer for General Insurance, effective immediately, further solidifying AIG's leadership as it navigates complex risk management challenges.
Positive
Tom Bolt's extensive experience is expected to enhance AIG's risk management framework.
Kean Driscoll's promotion suggests continuity in leadership and strategic underwriting direction.
Negative
Transition in leadership may raise concerns about continuity and operational stability.
Kean Driscoll named Chief Underwriting Officer, General Insurance
NEW YORK--(BUSINESS WIRE)--
American International Group, Inc. (NYSE: AIG) today announced that Tom Bolt, 65, has been named Executive Vice President and Chief Risk Officer, AIG, effective immediately. Mr. Bolt replaces Sabra Purtill, who was recently named Executive Vice President and Chief Investment Officer for AIG’s Life & Retirement business. Mr. Bolt will report to Peter Zaffino, Chairman & Chief Executive Officer, AIG, and has joined the AIG Executive Leadership Team.
“Over his more than 35 years in insurance and reinsurance, Tom has developed deep underwriting expertise and, since joining AIG in 2018, he has played a critical role in the turnaround of our General Insurance business by setting standards for underwriting excellence and playing a leadership role in strengthening our culture while reshaping our portfolio,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “His unique background, experience and stature in our industry will be invaluable as we continue to focus on managing complex, operational and global risk issues at AIG. I look forward to working with Tom in this new role as we refine our risk management framework across our global business.”
In addition, Kean Driscoll, 48, has been named Chief Underwriting Officer, General Insurance, effective immediately, and will report to David McElroy, Executive Vice President and Chief Executive Officer, General Insurance. Since 2019, Mr. Driscoll has served as Global Chief Underwriting Officer, Property/Agriculture, as well as Global Head of Reinsurance Strategy, General Insurance, since 2020.
Mr. Zaffino continued, “Since joining AIG in 2018, Kean has been a key contributor to our portfolio management and in shaping our strategic reinsurance structures. As Chief Underwriting Officer, his expertise in underwriting and modeling application will continue to drive momentum as we continue our journey to become a top performing company.”
Mr. Bolt has served as Chief Underwriting Officer, General Insurance, since 2018. He joined AIG from Berkshire Hathaway Specialty Insurance, where he was President and CEO of the U.K. and Southern Europe, and a member of Berkshire Hathaway International Insurance Ltd.’s Board of Directors. Prior to that, Mr. 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. Mr. Bolt holds a M.M. in Marketing and Finance and a B.A. in English Literature and Economics from Northwestern University.
Mr. Driscoll has served as Global Head of Reinsurance Strategy, General Insurance, since 2020 and Global Chief Underwriting Officer, Property/Agriculture, General Insurance, since 2019. He was a founding member of Validus and served as Chief Executive Officer of Validus Re from 2012 until he joined the AIG General Insurance Chief Underwriting Office in 2019. He has more than 25 years of experience as a reinsurance underwriter, and previously held leadership roles with Quanta Re and Zurich Re N.A. (Converium). Driscoll holds a B.A. in Literature from Colgate University and an MBA from Columbia University, where he graduated with honors.
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. 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.
