AIG Zaffino named retired president of Duperreault
American International Group has announced that Peter Zaffino, President and CEO, will assume the additional role of Chairman of the Board, effective January 1, 2022.
As previously announced, Brian Duperreault, currently Executive Chairman, will step down from the board at the end of 2021.
Doug Steenland, Independent Lead Director, said Zaffino’s transition to CEO in March 2021 had “gone smoothly and the company is performing exceptionally well.” He said that “Zaffijo’s leadership is highly respected by the board of directors, the insurance industry and the company’s many stakeholders.”
The plan for Zaffino to succeed Duperreault as CEO was announced last October, after Zaffino assumed the role of chairman and also became a director. In January 2020, Zaffino took the title of President of Duperreault.
On February 11, 2021, AIG entered into Letters of Understanding with Zaffino and Duperreault to define the leadership transition. This deal with Zaffino called for him to serve as President and CEO for an initial target direct compensation of $ 17 million.
Zaffino joined AIG as Executive Vice President and Global COO in July 2017. He assumed the additional role of General Manager of AIG’s General Insurance business in November 2017. He joined AIG after working at Marsh & McLennan Companies, where he was CEO of the insurance broker. Marsh from 2011 to 2017 and president of the Risk and Insurance Services segment of MMC from 2015 to 2017. He was also a member of the executive committee of MMC.
Zaffino and Brian Duperreault worked together at Marsh when Duperreault took over the brokerage firm in 2008.
Crum & Forster appoints Sussman as president of credit division
Crum & Forster has appointed Daniel L. Sussman president of its Credit division.
In his role, Sussman is responsible for leading C & F’s expanding admitted and excess line credit insurance platforms, covering credit risks for clients in North America and other selected jurisdictions. He will also oversee the strategic partnership with Nexus Underwriting, Ltd. in London – Nexus C&F – which offers an established presence to serve customers in the UK and mainland Europe.
Sussman joined C&F in 2019 as Senior Vice President to launch C&F Credit Group. Under his leadership, the division focuses on four specialty areas to address corporate financial, operational and strategic risks, including trade credit, multi-buyer credit, mortgage risk and alternative risk solutions.
Prior to joining C&F, Sussman worked at Ironshore Inc. for nine years, where he founded and served as President of Commercial Credit, Political Risks and Special Risks, overseeing the underwriting teams in the United States, London. , Dubai, Singapore and Sydney.
He will report to Marc Adee, Managing Director of Crum & Forster.
AXIS Insurance appoints CRC’s Dadi to US Excess Casualty team
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has appointed Abiy Dadi as Vice President of the US Excess Casualty team. Grandma will be responsible for relationships with wholesale distribution partners, new and existing business opportunities and execution of the underwriting strategy. He will be based in Alpharetta, Ga., And will report to Britt Smith, senior vice president, US Excess Casualty.
Dadi joins AXIS from the CRC group where he was until recently Associate Broker / Assistant Vice President. He was responsible for generating and placing primary accident and excess liability risks, overseeing team operations, and training new team members. He began his insurance career with CRC Group in 2012 as an assistant broker.
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