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AIG Names Charlie Fry Executive Vice President, Reinsurance Purchasing and Risk Capital Optimization
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Rhea-AI Summary
American International Group (AIG) has appointed Charlie Fry as Executive Vice President, Reinsurance Purchasing and Risk Capital Optimization, effective July 31. Fry will oversee AIG’s reinsurance purchasing strategy and capital allocation in its property casualty sector. CEO Peter Zaffino emphasized the importance of reinsurance in AIG's transformation into a top-performing company, citing Fry's previous contributions to the firm. Fry has extensive experience, having previously served as CEO of Acacia Holdings and held significant positions at various insurance firms.
Positive
Appointment of Charlie Fry enhances AIG's reinsurance strategy.
Fry brings valuable prior experience in reinsurance and capital optimization.
CEO Peter Zaffino's confidence in Fry indicates stable leadership.
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NEW YORK--(BUSINESS WIRE)--
American International Group, Inc. (NYSE: AIG) today announced that Charlie Fry has been named Executive Vice President, Reinsurance Purchasing and Risk Capital Optimization, effective July 31st. Mr. Fry will report to Peter Zaffino, AIG’s Chairman & Chief Executive Officer and will assume responsibility for AIG’s reinsurance purchasing strategy and placement execution, as well as optimizing capital allocation in AIG’s property casualty business. In this role, he will work closely with Shane Fitzsimons, AIG’s Executive Vice President & Chief Financial Officer, and Mark Lyons, AIG’s Executive Vice President, Global Chief Actuary and Head of Portfolio Management.
Charlie Fry, Executive Vice President, Reinsurance Purchasing and Risk Capital Optimization, AIG (Photo: Business Wire)
“I am very pleased to welcome Charlie back to AIG. The continued execution of our reinsurance strategy is essential to our progress toward becoming a top performing company,” said Mr. Zaffino. “During Charlie’s previous tenure at AIG, he played a key role in AIG’s underwriting turnaround and established a framework for reinsurance purchasing and risk and volatility mitigation efforts across our global portfolio. I have worked with Charlie for many years and am confident he will make significant contributions to AIG as we progress our deployment of capital and continue to improve our risk adjusted returns.”
Mr. Fry first joined AIG in 2017 as Global Head of Reinsurance Strategy and Head of Global Portfolio Management for General Insurance. After departing AIG in 2020, he served as Chief Executive Officer of Acacia Holdings Ltd., a Bermuda-based capital investment company. He previously served as Group Chief Financial Officer at Novae Group plc, a UK-listed specialty insurer, and, prior to that, was Global Chief Operating Officer at Guy Carpenter. In addition, he previously worked with Apax Partners on its investment in Travelex Group and, from 1999 to 2006, Mr. Fry was a member of the senior management team of Benfield Group.
“I am delighted to be rejoining AIG and it is a privilege to work once again with Peter Zaffino.” said Mr. Fry. “AIG is a global leader in risk management, and I look forward to working with Peter and the broader AIG team at this exciting stage of the company’s transformation.”
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.
Who has been appointed to lead reinsurance purchasing at AIG?
Charlie Fry has been appointed as Executive Vice President, Reinsurance Purchasing and Risk Capital Optimization at AIG.
When does Charlie Fry's new role at AIG take effect?
Charlie Fry's role takes effect on July 31.
What will Charlie Fry be responsible for at AIG?
He will oversee AIG’s reinsurance purchasing strategy and optimize capital allocation in the property casualty sector.
What did Peter Zaffino say about the importance of reinsurance?
Peter Zaffino highlighted that the execution of AIG’s reinsurance strategy is essential to becoming a top-performing company.
What experience does Charlie Fry bring to AIG?
Charlie Fry has prior experience as CEO of Acacia Holdings and held significant roles in various insurance companies, including a key role in AIG's previous underwriting turnaround.
