American International Group (AIG) has announced the appointment of Tom Bolt as executive vice president and chief risk officer.
Bolt succeeds Sabra Purtill, who was recently named executive vice president and chief investment officer for AIG’s Life & Retirement business. Bolt will report to Peter Zaffino, chairman and CEO of AIG, and has joined the company’s executive leadership team.
“Over his more than 35 years in insurance and reinsurance, Tom has developed deep underwriting expertise, and since joining AIG in 2018, he has played a critical role in the turnaround of our general insurance business by setting standards for underwriting excellence and playing a leadership role in strengthening our culture while reshaping our portfolio,” Zaffino said. “His unique background, experience and stature in our industry will be invaluable as we continue to focus on managing complex, operational and global risk issues at AIG. I look forward to working with Tom in this new role as we refine our risk management framework across our global business.”
AIG has also announced the appointment of Kean Driscoll as chief underwriting officer for general insurance. Driscoll succeeds Bolt in the role. He will report to David McElroy, executive vice president and CEO of general insurance. Driscoll previously served as global chief underwriting officer for property/agriculture and global head of reinsurance strategy for general insurance.
“Since joining AIG in 2018, Kean has been a key contributor to our portfolio management and in shaping our strategic reinsurance structures,” Zaffino said. “As chief underwriting officer, his expertise in underwriting and modelling application will continue to drive momentum as we continue our journey to become a top-performing company.
Bolt has served as chief underwriting officer for general insurance since 2018. He joined AIG from Berkshire Hathaway Specialty Insurance, where he served as president and CEO of the UK and Southern Europe and a member of the Berkshire Hathaway International Insurance board of directors. Prior to that, he served as director of performance management at Lloyd’s of London and managing director of Marlborough Managing Agency at Lloyd’s. Before joining Lloyd’s, Bolt spent 25 years at Berkshire Hathaway in a variety of senior roles.
Driscoll has more than 25 years of experience as a reinsurance underwriter. Prior to joining AIG, Driscoll was a founding member of Validus and served as CEO of Validus Re. he has also held leadership roles with Quanta Re and Zurich Re N.A. (Converium).