AIG reveals new Validus Re CEO

Validus Re, the Bermuda-based reinsurer acquired by AIG in 2018, has appointed Jeff Clements as CEO.

Clements most recently served as chief underwriting officer (CUO) of Validus Re, and succeeds Kean Driscoll, a founding member of Validus, who has been appointed as AIG's global CUO for property and agriculture, general insurance.

Furthermore, Alexander Baugh has been appointed global CUO for casualty and financial lines, general insurance

AIG completed its acquisition of Validus Holdings in July 2018, which included the acquisition of reinsurance platform Validus Re, insurance-linked securities asset manager AlphaCat, and Lloyd's syndicate Talbot.

Driscoll and Baugh will report to Tom Bolt, global CUO, AIG General Insurance, and will continue to serve on the general insurance executive leadership team.

“These leadership appointments strengthen our focus on underwriting excellence,” said Peter Zaffino, president and CEO, AIG General Insurance, and global chief operating officer, AIG. “I look forward to continuing to work with Kean and Lex in their new roles as we expand our capabilities for our clients and partners.”