Lillelund's AIG return sparks shuffle

American International Group (AIG) has fleshed out its new European subsidiary with the hire of former AIG executive Thomas Lillelund to head the Luxembourg based operation. AIG Europe SA sits alongside American International Group UK Limited as one of two new entities established by AIG to provide continuity of services following Brexit. AIG Europe SA will cover the firm’s business in the European economic area as well as Switzerland, allowing AIG to operate seamlessly in the region ahead of Brexit. The firm’s current European operations which fall under AIG Europe Limited will be syphoned off into the two newer entities with the current chief executive, Anthony Baldwin, appointed to head American International Group UK. Lillelund joins from Aspen Re, where he obtained his first c-suite role as chief executive, a title he held for two years. His overall tenure at Aspen spanned a decade, as noted by the firm’s chief executive, Chris O’Kane, who stated: “I would like to express my sincere gratitude to Thomas Lillelund for his significant contribution to Aspen Re over the last 10 years, most recently as chief executive officer of Aspen Re and before that as managing director of our Asia Pacific business.” He will be succeeded by Emil Issavi, who is currently Aspen Re’s chief underwriting officer. Issavi joined Aspen in 2006, and held a number of positions at the firm since then, including president of Aspen Reinsurance, executive vice president of Aspen Re, and head of casualty reinsurance. “The business is a highly respected player in our chosen markets, we have an outstanding team of people and we are well positioned to sustain the long-standing success of the business moving forward,” Issavi said regarding his appointment. During Lillelund’s previous tenure at AIG, he was regional vice president for commercial property in the South East Asia region for a total of four years. He will report to Chris Townsend, chief executive officer of International General Insurance. “I’m delighted to welcome Thomas back to AIG as CEO of our European business. Thomas is a well-respected international insurance executive who is a strategic leader with experience growing and building teams,” Townsend said. The outgoing chief executive will remain with Aspen for an unspecified period of time in order to ensure a smooth transition according to Aspen.

Blurred image of Reactions article content
Blurred image of Reactions article related content