AIG welcomes back Fry as EVP, reinsurance buying

American International Group (AIG) has named Charlie Fry EVP, Reinsurance Purchasing and Risk Capital Optimisation.

Fry will report to Peter Zaffino, AIG’s chairman & chief executive and will assume responsibility for AIG’s reinsurance purchasing strategy and placement execution, as well as optimising capital allocation in AIG’s property casualty business.

In this role, he will work closely with Shane Fitzsimons, AIG’s Executive vice president & chief financial officer, and Mark Lyons, AIG’s executive vice president, Global Chief Actuary and Head of Portfolio Management.

Fry first joined AIG in 2017 as global head of Reinsurance Strategy and head of Global Portfolio Management for General Insurance. After departing AIG in 2020, he served as chief executive officer of Acacia Holdings, a Bermuda-based capital investment company.

He previously served as group chief financial officer at Novae Group plc, a UK-listed specialty insurer, and, prior to that, was global chief operating officer at Guy Carpenter.

“I am very pleased to welcome Charlie back to AIG. The continued execution of our reinsurance strategy is essential to our progress toward becoming a top performing company,” said Zaffino.

“During Charlie’s previous tenure at AIG, he played a key role in AIG’s underwriting turnaround and established a framework for reinsurance purchasing and risk and volatility mitigation efforts across our global portfolio.”