American Overseas Group, an insurance holding company incorporated in Bermuda, has announced that Patricia Ryan, executive vice president and general counsel, has resigned effective April 14, 2017 and will be joining the Chicago law firm Johnson & Bell as a partner.
Ryan will continue as a consultant to the company.
American Overseas Group owns operating subsidiary American Overseas Reinsurance Company, which is a property/casualty reinsurance company that currently writes short tail non-catastrophe property/casualty reinsurance and historically wrote financial guaranty reinsurance for US and international public finance and structured finance transactions. The company’s financial guaranty reinsurance business is in run-off.
26 September 2017 Bermuda-based American Overseas Group (AOG) has reported that it made a consolidated net loss of $8.2 million for the six months ended June 30, 2017. This was a slight improvement on the consolidated net loss of $12.1 million that it reported for the same period of 2016.