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American International Group, Inc. (NYSE:AIG) today announced that it has appointed Seraina Maag as the new President and Chief Executive Officer of its Europe, Middle East, and Africa (EMEA) region, effective November 11, 2013.
Ms. Maag is a proven leader with deep global experience, having held commercial insurance underwriting and finance roles in Europe, the United States, and Australia over a career spanning more than 20 years. She joins AIG from the XL Group, where she was Chief Executive, North American Property & Casualty, and also held global responsibility for Excess Casualty and Surety.
At AIG, Ms. Maag will oversee the insurance businesses in the 47 countries that comprise AIG’s EMEA region. Ms. Maag will be based in London and will report directly to Peter D. Hancock, CEO of AIG Property Casualty. She succeeds Nicholas Walsh, who has been serving as the region’s interim head since April. Mr. Walsh will resume his role as Vice Chairman, AIG Property Casualty, and will continue to hold his existing positions on the boards of AIG Europe Ltd., AIG Asia Pacific Pte. Ltd, and Tata AIG.
“I am delighted to welcome Seraina to AIG,” said Mr. Hancock. “With her strong insurance background, proven leadership skills, and global perspective, I am confident she will be an invaluable asset to our business. We have made great strides over the past several years, and Seraina’s appointment marks a wonderful addition to our team as we continue to concentrate on refocusing our business, improving our risk selection, and delivering outstanding service to our brokers and customers around the world. I would also like to thank Nic Walsh for his outstanding leadership of the region over this past year.”
Prior to XL Group, Ms. Maag was President of Zurich North America Commercial’s Specialties business unit, where she managed all aspects of U.S. operations, including A&H, Excess and E&S Casualty, Management Solutions Group (D&O, EPLI, Fiduciary Liability, and Crime), Professional Liability, Surety, Political Risk, and Trade Credit. She was promoted to this position after serving as the unit’s Chief Financial Officer. Ms. Maag also served as head of Investor Relations and Rating Agencies for Zurich Financial Services in Switzerland, where she was responsible for managing relationships with global investors, analysts, and rating agencies.