AIG promotes Christopher Schaper to lead global underwriting

Christopher Schaper (pictured), currently chief executive officer of AIG Re, has been named global chief underwriting officer of AIG.

The appointment is likely to take effect in the fourth quarter when the near $3 billion sale of Validus Re to RenaissanceRe is expected to close.

Schaper, who joined AIG in 2019 and has been based in Bermuda, will report to Peter Zaffino, chairman and chief executive officer of AIG.

Zaffino said: “Since joining AIG in 2019, Chris has been a results-driven and collaborative leader who has demonstrated a commitment to underwriting excellence, as well as strong portfolio management capabilities and financial acumen.

“I have worked closely with Chris for many years and look forward to continuing to collaborate with him in his new role as we seek to deliver sustained improvements in our financial results by reinforcing a culture of underwriting excellence, enhancing our core capabilities, and developing next generation risk analytics.”

Schaper said: “It is a privilege to be named to this role, and I look forward to working with Peter and colleagues across AIG to progress our strategic initiatives, particularly as they relate to underwriting excellence.”

Schaper  is currently CEO of AIG Re, the global reinsurance business of AIG, as well as CEO of Validus Re and AlphaCat. He joined AIG in 2019 from Marsh McLennan, where he was CEO of Victor Insurance Holdings, Marsh’s global underwriting MGA.

Prior to that, Schaper served as president of Montpelier Re Ltd and underwriting chairman of Blue Capital, Montpelier’s capital markets entity. Previously, he held leadership roles at Endurance Specialty Insurance Ltd., including chief underwriting officer and head of reinsurance.