AIG has named Tom Bolt as its new Chief Underwriting Officer (CUO), general insurance.
As CUO, Bolt will be responsible for developing a global framework for underwriting standards, authority and structure that is aligned with AIG’s overall risk appetite.
Expected to join the company in January 2018, Bolt will report to CEO, general insurance, Peter Zaffino as a member of the General Insurance Executive Leadership Team.
He brings over 30 years’ experience within the insurance and reinsurance industry.
Prior to joining AIG, Bolt served at Berkshire Hathaway Specialty Insurance as president and CEO of the U.K. and Southern Europe, and as a member of Berkshire Hathaway International Insurance Ltd.’s board of directors.
Before that he was director of performance management at Lloyd’s of London and managing director of Marlborough Managing Agency at Lloyd’s.
Before joining Lloyd’s, Bolt spent 25 years at Berkshire Hathaway where he assumed a number of senior executive roles.
Commenting on the appointment, Zaffino said: “I am very pleased to welcome Tom to AIG,”
“He is an exceptionally talented leader with deep industry expertise and a proven track record of delivering outstanding financial and operational performance. Tom will bring strong discipline to our underwriting and pricing decisions and will play a key role in building AIG’s data and analytical capabilities to empower our underwriters. I look forward to working with Tom to drive general insurance’s underwriting strategy and position it for profitable growth.”
Bolt said: “I am excited to be joining AIG at such a pivotal time in its history. I look forward to working with Peter and the general insurance executive leadership team to define consistent, global underwriting standards that achieve a well-balanced portfolio and deliver strong and sustainable financial performance.”