American International Group (AIG) announced that it has named Charlie Shamieh chief executive officer, life, health, and disability insurance.
Alessa Quane, currently chief risk officer for commercial insurance, will assume Mr. Shamieh’s responsibilities as corporate chief actuary, overseeing global actuarial and value management.
Mr. Shamieh will report to Kevin Hogan, Chief Executive Officer, Consumer Insurance, and Ms. Quane will report to David Herzog, Chief Financial Officer. The appointments take effect in March 2015.
"We are delighted that Charlie, a seasoned executive who has broad international experience in both life and non-life insurance, is taking on this role," Mr. Hogan said.
"He is well-suited to bring further innovation and creativity to the expanding Life, Health, and Disability opportunities available to AIG. Charlie’s role as Corporate Chief Actuary has provided him great insight into the structural drivers behind all of our products and businesses. He will continue to enhance and further develop our businesses in the U.S., Japan, China, and UK, as well as explore additional opportunities to enter new products, services, and geographies."
Mr. Shamieh has more than 28 years of industry experience, having held senior insurance and reinsurance executive positions across three continents. Since joining AIG in 2007, he has made significant contributions, including building the risk functions in each of AIG’s insurance businesses and, in 2011, establishing the first integrated corporate actuarial function.
In this role, he also led AIG’s insurance company regulatory and rating agency capital and asset-liability management efforts, as well as value-based management initiatives.
Prior to joining AIG, Mr. Shamieh held senior insurance and reinsurance executive positions at Munich Re Group, AMP, Mercer, Deloitte, and Oliver, Wyman & Company. Mr. Shamieh holds a Bachelor of Economics degree from Macquarie University, and is a Fellow of The Institute of Actuaries of Australia and a Member of the American Academy of Actuaries.
An 18-year veteran of AIG, Ms. Quane becomes Corporate Chief Actuary after serving in a variety of leadership roles at AIG in Enterprise Risk Management and Actuarial.
Prior to becoming Chief Risk Officer for Commercial Insurance, she supported the property casualty business as Chief Risk Officer and as Head of Enterprise Risk Strategy. Ms. Quane also served as Chief Risk Officer for AIG’s international businesses and as Chief Actuary for the UK/Ireland, and European regions.