Shock as AIG announces new CEO

Shock as AIG announces new CEO | Insurance Business

Shock as AIG announces new CEO

AIG has made a shock announcement today, confirming the imminent departure of long-serving CEO Noel Condon.

Condon will officially step down from his role on December 9, with current Fairfax International CEO Nigel Fitzgerald set to take on the top job the following day.

Sachin N. Shah, CEO of AIG’s Asia Pacific general insurance operations, publically welcomed Fitzgerald onto the team earlier this afternoon.

“Nigel has extensive insurance market experience and a proven track record of managing product mix, strong underwriting discipline and building sustainable profitable businesses,” he said. “I am confident AIG Australia will thrive under Nigel’s leadership.”

Fitzgerald, who has over 20 years of experience in the insurance industry, also commented on the appointment, saying he is excited to take on a new opportunity.

“I look forward to joining AIG and working with colleagues across Australia to drive the strategic direction of the business, deliver differentiated value to our brokers and clients, and make a meaningful impact in a dynamic Australian market,” he said.