|AIG ENHANCES WORLDWIDE ACTUARIAL ORGANIZATION|
Mark Scully Joins Chartis as Senior Vice President and Chief Actuary
NEW YORK, Jan 27, 2011 -- American International Group, Inc. (AIG) announced today that the AIG Board of Directors has elected Charlie Shamieh to the newly created role of AIG Senior Vice President - Corporate Chief Actuary. In addition, Chartis, AIG's property and casualty insurance unit, named Mark W. Scully Senior Vice President and Chartis Chief Actuary. Together, these appointments recognize the importance of the actuarial oversight function as key to AIG's re-emergence as a company independent of government support.
"Actuarial oversight is critical to effective risk management and our ongoing success as the property and casualty industry faces increasingly new and complex risks," said David L. Herzog, AIG Executive Vice President and Chief Financial Officer. "This team's analytical strength and depth of experience provide the added perspective on reserving and pricing required to be vigilant in recognizing current and emerging risks - and keeping our management teams regularly apprised of these issues both in the industry and specific to AIG."
Mr. Shamieh joined AIG in 2007 as Executive Director of Enterprise Risk Management. In addition to serving as Corporate Chief Actuary, Mr. Shamieh's new role includes responsibility for rating agency relations, statutory and rating agency capital management, and intrinsic value management. Prior to joining AIG, Mr. Shamieh was Group Chief Risk Officer for Munich Re Group and a Member of the Group Committee of Munich Re's Board of Management. He has held senior executive/partner positions at AMP, Sydney, Mercer, Deloitte, Melbourne and Oliver, Wyman & Company, London. He was also a non-executive director of the firm of Barrie & Hibbert Limited, Edinburgh. Mr. Shamieh holds a Bachelor of Economics degree, with a major in Actuarial Science, from Macquarie University and is a Fellow of The Institute of Actuaries of Australia and a Member of the American Academy of Actuaries. He has practiced as a property-casualty, life, and pensions actuary.
Mr. Scully joins Chartis from Allianz SE, where he held the position of Global Chief Actuary and Deputy Chief Risk Officer. Mr. Scully will have responsibility for Chartis' worldwide actuarial organization, reporting to Mr. Shamieh and to Robert Schimek, Executive Vice President and Chief Financial Officer of Chartis. Mr. Scully succeeds Frank Douglas, who will be retiring after 31 years of service to AIG, in the second quarter of 2011. Prior to serving at Allianz SE, Mr. Scully held positions with Tillinghast-Towers Perrin and Travelers. Mr. Scully is a Fellow of the Casualty Actuarial Society, a Member of the American Academy of Actuaries, and a Chartered Enterprise Risk Analyst. Mr. Scully holds a Bachelor's Degree in German and Mathematics from Washington and Lee University, completed Fulbright studies in German Literature, and holds a Master's Degree in International Economics and American Foreign Policy from the Paul H. Nitze School of Advanced International Studies in Washington, DC.
American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
SOURCE: American International Group, Inc.
American International Group, Inc.