The Aspen Re chief executive officer will lead American International Group’s new European subsidiary in Luxembourg.
Thomas Lillelund has been hired on as CEO of the division known formally as AIG Europe SA, which will handle AIG’s business in the European Economic Area and Switzerland. He has been CEO of Aspen Re dating back to 2016. In his new role, Lillelund will report to Chris Townsend, CEO, International General Insurance, subject to regulatory approval.
AIG established its new Luxembourg arm to provide business continuity for its European operations after the United Kingdom leaves the European Union as part of Brexit.
In his new role, Lillelund will be responsible for Continental Europe and Ireland.
Townsend, in prepared remarks noted Lillelund’s abilities as “a well-respected international insurance executive who is a strategic leader with experience growing and building teams.” He also pointed out that Lillelund is returning to AIG.
Before running Aspen Re, Lillelund was the reinsurer’s regional managing director for the Asia Pacific region. But during his 20-year career, Lillelund has also served as AIG’s regional vice president in Southeast Asia and worked for various companies in Hong Kong, South Africa and the U.S.
AIG has established two new entities, one in the U.K. and one in Luxembourg, to keep continued client service regardless of the future relationship between the U.K. and the EU. Anthony Baldwin, currently CEO of AIG Europe Limited, will become chief executive officer of the new U.K. entity, American International Group U.K. Limited. He’ll continue to report to Townsend.
AIG will transfer existing business to the new U.K. and European entities and merge its existing carrier, AIG Europe Limited, into the new European company. The two new companies will begin writing starting Dec. 1, 2018.