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AIG recruits reinsurance, transformation chief


American International Group Inc. has recruited former Novae Group P.L.C. executive Charles Fry to head reinsurance, operations and transformation, General Insurance, effective immediately, AIG announced Tuesday.

Mr. Fry. will oversee global reinsurance, shared services, and transformation and administration for AIG and will be part of the General Insurance unit’s executive leadership team, according to the statement. He will report to Peter Zaffino, chief executive officer, General Insurance, who was recently joined AIG from Marsh L.L.C.

The role is newly-created and Mr. Fry will be based in the U.K. initially before relocating to the U.S., according to sources.

He most recently served as group chief financial officer at Novae Group P.L.C., which Axis Capital Holdings Ltd. is acquiring.

“Charlie has a proven track record of running complex operations, change management projects and profit improvement in the insurance and reinsurance industry,” Mr. Zaffino said in the statement.

AIG has seen significant changes over the past several months since Brian Duperreault was installed as the insurer’s CEO. Last week it announced a restructuring of its operations and had its designation as a systemically important financial institution lifted.