American International Group (AIG) said the global property casualty business, Chartis has integrated its Claims and Operations and Systems (O&S) organisations under a single management team.
The new team will improve customer service, capitalize on the shared strategic initiatives of the two teams, and improve Chartis’ loss ratio, a critical component of its five year plans.
Chartis chief executive officer Peter Hancock said that in May 2011, the investors were provided with a blueprint to achieve a double-digit return on equity and a combined ratio for Chartis in the low 90’s by the end of 2015.
Hancock said that, for successful execution of these initiatives, four key strategic areas should be aimed, business mix shift, loss ratio improvement, expense discipline and risk selection.
Chartis has appointed Eric Martinez as vice president of Global Claims, Operations and Systems to lead the new unit and will report to Hancock.
Prior to the joining to this company, Martinez worked in United Guaranty, AIG’s mortgage insurance unit as president and chief executive officer.
Charles Schader has been appointed as senior vice president of Applied Research and will report to AIG’s chief actuarial officer Charles Shamieh.
In his new role, Schader will work alongside AIG and Chartis Actuarial, Science and Risk Officers in the practical application of quantitative research to enhance reserving methodologies, claims outcomes and underwriting risk selection.
Kim Garland has been named as chief executive officer and president of United Guaranty.
Prior to joining AIG, Garland served Safeco’s Open Seas Solutions group as president and earlier to that, Garland had responsibility for Safeco’s Personal Auto business.