AIG promotes captives expert
AIG has promoted Stephen Morton to multinational head of complex accounts. Morton has been with the business for 18 years, joining it as a senior account executive for captive accounts in 2003. Most recently, he was head of multinational for AIG Europe.
In the new role, he’ll be driving AIG’s offering for its “most complex clients and businesses”, the company said. He will continue to be based in Paris.
Morton has long experience with captives. Earlier this year he wrote about seeing companies expand their use of existing captives to encompass new geographies and lines of business such as cyber. He remained optimistic for their future even after the hard market.
“The most successful insurance programmes maintain a balance of risk retention, traditional and alternative risk transfer, with a strategy that adapts to changing market cycles and risks. The benefits of self-insurance, including having greater control over risk financing and risk management, as well as customisation of loss control and claims mitigation strategies, remain relevant when prices soften again,” he wrote.
Morton’s promotion comes alongside that of Phillip Rhodes, raised to head of multinational intelligence, “another focus area as the global multinational landscape gets more complex from a regulatory and compliance perspective”, according to the company.
“These two appointments demonstrate our ongoing investment in multinational services for our clients and brokers,” global head of multinational Elke Vagenende said in a LinkedIn update.