American International Group Inc. has named Tom Bolt as executive vice president and chief risk officer, AIG, effective immediately. He will report to Peter Zaffino, chairman and chief executive officer, AIG, and has joined the AIG Executive Leadership Team.
Bolt has served as chief underwriting officer, General Insurance, since 2018. He joined AIG from Berkshire Hathaway Specialty Insurance, where he was president and CEO of the UK and Southern Europe and a member of Berkshire Hathaway International Insurance Ltd.’s Board of Directors. Prior to that, Bolt was director of Performance Management at Lloyd’s of London and managing director of Marlborough Managing Agency at Lloyd’s. Before joining Lloyd’s, he spent 25 years at Berkshire Hathaway in a variety of senior executive roles.
“Over his more than 35 years in insurance and reinsurance, Tom has developed deep underwriting expertise and, since joining AIG in 2018, he has played a critical role in the turnaround of our General Insurance business by setting standards for underwriting excellence and playing a leadership role in strengthening our culture while reshaping our portfolio,” said Zaffino. “His unique background, experience and stature in our industry will be invaluable as we continue to focus on managing complex, operational and global risk issues at AIG. I look forward to working with Tom in this new role as we refine our risk management framework across our global business.”
Bolt replaces Sabra Purtill, who was recently named EVP and chief investment officer for AIG’s Life & Retirement business (to be rebranded as Corebridge Financial Inc. following its Initial Public Offering). She will report to Kevin Hogan, EVP, CEO, Life & Retirement, and has joined the Life & Retirement Executive Leadership Team.
Purtill has been EVP, chief risk officer, AIG, since July 2021 and has previously served as AIG’s deputy chief financial officer, overseeing Treasury, Rating Agency Relations, Investor Relations and Corporate Development. Prior to joining AIG in 2019, Purtill was with The Hartford Financial Services Group Inc., where she served as senior VP, Investor Relations, and treasurer. She was also managing director, Investor Relations & Communications, at Assured Guaranty Ltd. and prior to that was a corporate finance officer at ACE Limited, now known as Chubb Limited.
In addition, Kean Driscoll has been named chief underwriting officer, General Insurance, effective immediately, and will report to David McElroy, EVP, chief executive officer, General Insurance. Since 2019, Driscoll has served as global chief underwriting officer, Property/Agriculture, as well as global head of Reinsurance Strategy, General Insurance, since 2020.
Driscoll has served as global head of Reinsurance Strategy, General Insurance, since 2020 and global CUO, Property/Agriculture, General Insurance, since 2019. He was a founding member of Validus and served as CEO of Validus Re before joining AIG. He has more than 25 years of experience as a reinsurance underwriter and previously held leadership roles with Quanta Re and Zurich Re N.A. (Converium).