AIG appoints global chief underwriting officer

American International Group has announced that Christopher Schaper, currently chief executive 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. He will report to Peter Zaffino, chairman and chief executive of AIG.

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.”

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.”

Schaper has more than three decades of experience in the insurance and reinsurance industries. He is currently chief executive of AIG Re, the global reinsurance business of AIG, as well as chief executive of Validus Re and AlphaCat. He joined AIG in 2019 from Marsh McLennan, where he was chief executive of Victor Insurance Holdings, Marsh’s global underwriting MGA.

Prior to that, Schaper served as president of Montpelier Re and underwriting chairman of Blue Capital, Montpelier’s capital markets entity. Previously, he held leadership roles at Endurance Specialty Insurance, including chief underwriting officer and head of reinsurance.