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American International Group announced the formation of ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Re, which consolidates the company’s assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty, into one global business.

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ completed its acquisition of Bermuda reinsurer and specialist insurer Validus Holdings last July. The $5.56 billion transaction added Validus Re, a reinsurance platform; AlphaCat, an insurance-linked securities asset manager; and Talbot, a Lloyd’s syndicate along with other entities.

To head the new consolidated reinsurance operation ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Re, the company has appointed Christopher Schaper as CEO. Schaper will oversee implementation of ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s assumed reinsurance strategy while continuing to develop, market and deliver reinsurance and capital market solutions to clients on a global basis.

Schaper brings three decades of experience in the insurance and reinsurance industries to ÌìÃÀÍøÕ¾´«Ã½´«Ã½. He joins ÌìÃÀÍøÕ¾´«Ã½´«Ã½ from Marsh, where he was CEO of the managing general agent businesses since 2016. Prior to that, Schaper served as president of Montpelier Re Ltd. and underwriting chairman of Blue Capital, Montpelier’s capital markets entity.

Previously, Schaper held several leadership positions at Endurance Specialty Insurance Ltd., including chief underwriting officer and head of Reinsurance, and head of Casualty Treaty Reinsurance. Earlier in his career, Schaper held roles at Gerling Global Financial Products, Employers Reinsurance Corp., Cigna and USF&G.

Schaper will be based in Bermuda and report to Peter Zaffino, president and CEO, ÌìÃÀÍøÕ¾´«Ã½´«Ã½ General Insurance, and global chief operating officer, ÌìÃÀÍøÕ¾´«Ã½´«Ã½.

Topics Reinsurance ÌìÃÀÍøÕ¾´«Ã½´«Ã½