AIG

AIG Reinsurance, short for American International Group Reinsurance, is a global provider of tailored risk transfer solutions. Its operations support global insurers through property, casualty, and specialty coverage. These are all integrated within AIG’s broader General Insurance platform.

History of AIG Reinsurance

Also known as AIG Re, the firm began in 1919 as American Asiatic Underwriters, launched in Shanghai by Cornelius Vander Starr. It became American International Group in 1967 and expanded reinsurance through global acquisitions.

In 2019, AIG rebranded its reinsurance units under the unified AIG Re name. Other significant events in AIG Reinsurance’s development include:

• 1978: created TransRe to handle facultative reinsurance needs globally
• 1992: became the first foreign insurer licensed in China in decades
• 2008: entered government bailout talks during the global financial crisis
• 2010: sold its stake in Transatlantic Re to simplify its operations
• 2017: struck a major reinsurance deal with Berkshire Hathaway's National Indemnity Company
• 2018: formed Fortitude Re to manage run-off operations using modco and funds withheld deals
• 2018: bought Validus Holdings, gaining Validus Re, AlphaCat, and Talbot Treaty
• 2023: completed the sale of Validus Re to RenaissanceRe
• 2023: entered a $400 million risk transfer agreement with Enstar’s Clarendon unit

AIG recently launched Syndicate 2478 at Lloyd’s, backed by Blackstone through a special purpose vehicle. This created a long-term reinsurance partner while building fee income through investor-backed structures.

Reinsurance products and services

AIG Reinsurance offers technical underwriting and custom solutions to help manage a wide range of risks:

Property reinsurance

• catastrophe excess of loss
• proportional property treaties
• per risk and aggregate covers

Casualty reinsurance

• general liability
• environmental liability
• energy liability
• construction liability
• workers’ compensation
• product recall

Specialty reinsurance

• marine
• aviation
• directors and officers (D&O)
• employment practices liability
• crime and dishonesty
• fiduciary liability
• professional indemnity (E&O)

Facultative reinsurance

• single-risk customization
• short-tail and long-tail classes
• local desks

Alternative risk transfer

• insurance-linked securities (ILS)
• catastrophe bonds
• special purpose vehicles (SPVs)
• aggregate limit solutions

Strategic reinsurance services

• capital optimization
• reinsurance structuring
• claims services
• underwriting feedback loop

Global facultative desk capabilities

• LATAM desk: covers general, energy, and financial risks
• MENA region: covers property, casualty, and marine
• Asia-Pacific: supports regional industrial risks

AIG Reinsurance combines global reach with flexible tools and deep underwriting knowledge. Its Syndicate 2478 uses investor capital through Lloyd’s London Bridge 2 PCC structure.

Culture and core values

AIG Reinsurance builds its culture on trust, growth, and a shared purpose to face uncertainty. Their values are:

• being an ally
• owning what’s ours
• setting high standards
• winning as one
• doing the right thing

The company focuses on giving clients and partners the confidence to take on tomorrow’s opportunities.

Workplace environment and benefits

AIG Reinsurance promotes a workplace where people feel respected, supported, and able to thrive. It values belonging, invests in the right people, and creates space for growth and inclusion. They also provide staff with:

• compensation: market-aligned base pay, incentive rewards, and company performance-based compensation
• retirement and savings benefits: 401(k) contributions, life and disability coverage, and wellness-related benefits
• paid time off/leave: flexible time off, leave support, and parental or elder care assistance
• wellness programs: mental and physical health support, employee assistance plans, and global security services
• financial assistance: emergency loans, financial planning help, and flexible spending account options
• career support: tuition reimbursement, development tools, flexible work options, and skills-based learning
• culture and community: charitable match programs, employee groups, museum perks, and paid volunteer hours

AIG Re supports veterans by valuing their skills and guiding career paths within the company. This includes recruiting efforts, internal programs, and access for spouses and active-duty members.

Corporate responsibility

AIG Reinsurance helps people and businesses handle risk while giving back to communities. The company has invested over $3.5 billion in clean energy and $120 million in US solar projects. It has also donated over $22 million and awarded $60 million to diverse suppliers and groups.

The future at AIG Reinsurance

AIG is scaling forward with Syndicate 2478. It was launched through Lloyd’s and backed by Blackstone. The syndicate holds a $715 million stamp and focuses on global property and casualty risks. AIG also expanded its tender offer, which raises the total to $1.2 billion in accepted notes.

AIG Reinsurance signed a credit insurance deal with Saudi EXIM under the Bridges Initiative. The agreement helps support trade finance and protect supply chains in many countries. It fits AIG Re’s goal to offer smart coverage for growing global trade needs.