AIG Names Two Executives of the Environment Unit
Thursday, Mar 05,2009, 2:38:38 PM Click:
H Copyright 2009 Best Company, Inc.All rights reserved BestWire
5 January 2009 Monday 04:40 PM EST
333 words
AIG Names Two Executives of the Environment Unit
Alyn Ackermann
NEW YORK
American International Group Inc. has replaced the senior management of an insurance subsidiary, AIG Environmental, the company said.
Russell Johnston was appointed CEO of the unit to replace Joseph Boren, the company said in a statement. AIG (NYSE: AIG) has named Kimberly Hanna Executive Vice President and Chief Operating Officer, reports Johnston.
The statement said only that Boren left the company. Efforts to reach AIG officials for comment were not immediately successful.
AIG moves to the environment comes a month after the two officers one of the highlights of the AIG, Lexington Insurance Co., left to join Ironshore Inc (BestWire, Dec. 9, 2008) .
The retention of senior management and underwriting teams of the insurance subsidiaries was one of the greatest goals of AIG, according to the New York insurance giant seeks to stabilize its finances and reorganize its operations.
The company was saved from bankruptcy in September by a federal rescue plan which has since grown to over 150 billion dollars, and was severely criticized for the federal assistance programs to keep premiums executives and thousands of employees (BestWire December 31, 2008).
Johnston joined AIG in 1990, serving in senior positions within AIG Risk Management Group and most recently served as President of AIG Risk Management, the company said. He will report to Q. John Doyle, President and CEO of AIG Commercial Insurance.
Hanna joined AIG Canada in 1996. In 2000, Hanna became a head of product line for AIG environment and, most recently served as Senior Vice President and head of underwriting officer, AIG said.
Most of AIG insurance subsidiaries currently have a Best's financial strength rating of A (Excellent) with a negative outlook.
In afternoon trading on January 5, shares of AIG had sold $ 1.75, up 2.96% from the close.
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All rights reserved
Terms and Conditions Privacy Policy
5 January 2009 Monday 04:40 PM EST
333 words
AIG Names Two Executives of the Environment Unit
Alyn Ackermann
NEW YORK
American International Group Inc. has replaced the senior management of an insurance subsidiary, AIG Environmental, the company said.
Russell Johnston was appointed CEO of the unit to replace Joseph Boren, the company said in a statement. AIG (NYSE: AIG) has named Kimberly Hanna Executive Vice President and Chief Operating Officer, reports Johnston.
The statement said only that Boren left the company. Efforts to reach AIG officials for comment were not immediately successful.
AIG moves to the environment comes a month after the two officers one of the highlights of the AIG, Lexington Insurance Co., left to join Ironshore Inc (BestWire, Dec. 9, 2008) .
The retention of senior management and underwriting teams of the insurance subsidiaries was one of the greatest goals of AIG, according to the New York insurance giant seeks to stabilize its finances and reorganize its operations.
The company was saved from bankruptcy in September by a federal rescue plan which has since grown to over 150 billion dollars, and was severely criticized for the federal assistance programs to keep premiums executives and thousands of employees (BestWire December 31, 2008).
Johnston joined AIG in 1990, serving in senior positions within AIG Risk Management Group and most recently served as President of AIG Risk Management, the company said. He will report to Q. John Doyle, President and CEO of AIG Commercial Insurance.
Hanna joined AIG Canada in 1996. In 2000, Hanna became a head of product line for AIG environment and, most recently served as Senior Vice President and head of underwriting officer, AIG said.
Most of AIG insurance subsidiaries currently have a Best's financial strength rating of A (Excellent) with a negative outlook.
In afternoon trading on January 5, shares of AIG had sold $ 1.75, up 2.96% from the close.
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All rights reserved
Terms and Conditions Privacy Policy
You may also be interested in:
- Treasury: Half of AIG's Top Execs From 2008 Now Gone; Rest To Be Paid 58% Less in Total Compensation
- Mini-Profiles of Top Corporate Attorneys
- Insurers Taking Claims from the Los Angeles County Wildfire
- Merrill Lynch Oks Funeral Trust Deal: Company To Pay $18 Mil
- Americans Ignoring Income Protection of Disability Insurance
Featured
Rell pushes for $9M loan to keep GenRe in Conn.
Gov. M. Jodi Rell is optimistic that the state Bond Commission will act swiftly
A.M. Best Revises Outlook to Negative for Universal
OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co . has revised the outlook to
Brown & Brown, Inc. announces the acquisition of
Copyright: Unknown Source: Market Wire Wordcount: DAYTONA BEACH, FL and TAMPA,
TheFortuneFinancial.com Research on the Free Market
NEW DELHI, INDIA - (MARKET WIRE) - 06/23/09 - TheFortuneFinancial.com provides
Annuity Industry Fights Back, Last Chance to join the
Massive change is upon the annuity industry. Now is your chance to lead the
Helping non-profit organizations in Ease enormous new
DES MOINES, Iowa--(BUSINESS WIRE)-- Non-profit employers who sponsor 403(b)
Principal Chief Financial Officer is $ 4.8 million in
Copyright: The Associated Press. All rights reserved. May This material may not
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- Best's Review's Insurance Broker Ranking Shows Aon, Marsh at the Top, Shifting Lineup
- Universal Property & Casualty Insurance Co. Increases Bu
- AAA will drop homeowners' insurance policies in Louisiana
- Willis Group Holdings names CEO Tony Ursano, Willis Capital
- A.M. Best Downgrades Ratings of State Farm Florida Insurance
- Lightning-Related Insurance Claims Up
- A.M. Best Affirms Ratings of Auto-Owners Insurance Group and
- Berkshire Hathaway’s Insurance Subsidiaries Buck Property/C
- Nationwide Insurance, Allied Insurance Responding to Hail Storm in Denver Area
- European Insurance Asset Management Survey published
-
When it doesn’t pay to overpay on your mortgage -
Business Insurance: Healthy Families faces potential cuts -
FirstBest Announces App Forms Reader and Dashboard Features -
'Perfect Storm' Putting upward pressure on prices of Insuran -
Americans Weigh In On Obama's Automaker Bailout Plan -
Mortgage lenders are failing consumers in their hour of need -
Son learns insurance business at an early age -
Q&A: How the Homeowners Mortgage Support Scheme works
Discuss this news
Click Here to see all comments