Geneva Association launches multinational insurer task force
Group to work with regulators and the scientific community
American International Group (AIG) is a global insurance company that started in China in 1919, when an American named Cornelius Vander Starr launched an insurance agency, American Asiatic Underwriters, in Shanghai. The company eventually expanded its presence across the globe, and today, its key business units include general insurance, life and retirement, and investments.
Through its insurance offerings tailored for businesses, AIG provides products and services that include traditional insurance, specialised solutions, and excess and surplus lines insurance to help businesses address emerging risks. The company’s clients range from large, international, and mid-sized companies to small businesses, entrepreneurs, and non-profits found around the world.
The leader is currently a member of many boards, including those of the Bermuda Institute of Ocean Sciences, Johnson Controls, Partnership for New York City, the Geneva Association, and Saint Joseph’s University. Duperreault is also the former chairman of the Board of Overseers of the School of Risk Management of St. John’s University, New York and chairman emeritus of Blue Marble Microinsurance.
Culture
AIG takes its involvement in sustainability seriously, creating a leadership solely devoted to this in July 2019, and naming Jennifer Waldner to fill the role. Waldner has accountability for implementing AIG’s sustainability strategy in her new role, and she also helps to develop a reporting structure. She likewise leads a cross-functional team to drive global sustainability initiatives, while ensuring that AIG’s sustainability strategy is properly executed throughout the organisation, a release said.
“The creation of a chief sustainability officer position reflects AIG’s ongoing commitment to sustainability as an insurer, investor, employer and corporate citizen, along with our efforts to take a thoughtful, coordinated approach across our global footprint,” said AIG executive vice president and AIG Life Holdings vice-chair Thomas B. Leonardi in a statement.
Leonardi added that Waldner’s expertise on sustainability matters and understanding of AIG’s business “uniquely position her for success in this important role.”
“I look forward to working with colleagues around the world to evolve AIG’s sustainability strategy and to enhance our reporting approach,” commented Waldner.
Waldner’s appointment came as AIG issued its first Task Force on Climate-related Financial Disclosures (TCFD) report. The report contained information on the company’s environmental, social, and human capital initiatives.
Group to work with regulators and the scientific community
AIG veteran comes onboard
Results reveal which companies are staying strong after a tough year, and which ones have fallen behind
Insurance giant admits to fielding inquiries
P&C giant responds to "environment of unprecedented uncertainty"
Insurers are ratcheting up their prices and seeking ways to control their exposure
The likes of Aviva, RSA, QBE face High Court action threat in Ireland
"Clearly we're in a period of transition and evolution"
They can also exert considerable pressure on coal energy producers, say analysts
Addition expected in April