Press release from Business Wire
AIG Announces Property Casualty Appointments
Monday, April 29, 2013
AIG Announces Property Casualty Appointments09:23 EDT Monday, April 29, 2013
NEW YORK (Business Wire) -- American International Group, Inc. (NYSE: AIG) today announced several executive appointments in its property casualty business segment, effective immediately.
Robert Schimek will become President and Chief Executive Officer of AIG Property Casualty's Americas region. Mr. Schimek, one of the company's most experienced executives, will relocate to New York from London, where he has been serving as President and CEO of the Europe, Middle East, and Africa region. Prior to becoming head of EMEA, Mr. Schimek was Chief Financial Officer of AIG Property Casualty. He will continue to report to Peter Hancock, President and Chief Executive Officer of AIG Property Casualty.
Nicholas Walsh, who ran AIG's international property casualty businesses for many years, will become President and Chief Executive Officer of EMEA on an interim basis as the company seeks a permanent successor to Mr. Schimek in due course. Mr. Walsh, an AIG veteran of nearly 40 years, Chairman of AIG Europe Ltd., and a resident of the United Kingdom, has been serving as a senior adviser on broker, client, and government relations matters since 2011. He will report to Mr. Hancock.
Alexander Baugh will assume responsibility for AIG's global Casualty business, reporting to John Doyle, Chief Executive Officer of Global Commercial Insurance within AIG Property Casualty. As a 29 year veteran of AIG, Mr. Baugh has held several senior roles at the company, including most recently as Chief Risk Officer and Head of Strategy for AIG Property Casualty and before that, served as Chief Executive Officer of Europe.
“Rob, Nic, and Lex represent what is most powerful about AIG: a strong bench of seasoned property casualty experts with deep product and global expertise who work closely and tenaciously to help clients and brokers embrace opportunities and face challenges all over the world,” Mr. Hancock said. “Over the last several years, we have made great strides in refocusing our business, improving our risk selection, and delivering outstanding service to our brokers and customers. I have every confidence that our people, through leadership, teamwork, and our knack for finding the answer, no matter how difficult the problem, will continue to win on the merits in every market where we choose to compete.”
Certain statements in this press release constitute forward-looking statements. These statements are not historical facts but instead represent only AIG's belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG's control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG's periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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