Chris Schaper named as CEO of Validus Re as Jeff Clements stands down

Chris Schaper has been named as chief executive officer of Validus Re, the Bermuda-based reinsurer that is owned by AIG.

Schaper replaces Jeff Clements, who previously held the post but is now leaving AIG. Chris Silvester, Validus Re’s head of US property, is also leaving AIG.

Schaper takes on his new responsibilities in addition to his existing duties as chief executive officer of AIG Re.

In a note sent to AIG staff, seen by Bermuda:Re+ILS, Schaper said AIG Re wants to establish itself as “a growing, profitable global leader in the reinsurance, retrocessional and ILS markets with a reputation for top-performing talent.”

Schaper added: “Since forming AIG Re in 2019, our businesses have made meaningful progress delivering differentiated reinsurance and capital market solutions to our brokers, cedants and investors.”