AIG has promoted global chief actuary Turab Hussain to CRO, effective from next Monday. 

Mr Hussain, based in New York, will take over from Christopher Schaper who has informed the company that he intends to retire at the end of this year. 

CEO Eric Andersen says Mr Hussain was also previously the company’s CRO for general insurance and is “exceptionally well qualified” for his new role. 

“Turab is an impressive leader with deep technical expertise, trusted judgment and a collaborative approach to advancing important priorities,” he said. 

“I am confident that Turab’s deep understanding of our company positions him well to lead our enterprise risk organisation with a continued focus on enhancing the way we assess, manage and respond to risk across AIG.” 

Prior to AIG, Mr Hussain was chief risk and actuarial officer at PartnerRe and chief insurance risk officer at The Hartford. Earlier in his career, he held risk and actuarial roles at Arch Insurance, American Re and Reliance Insurance. 

AIG also announced the appointment of Graham Fulcher to global chief actuary.  

Mr Fulcher will report to Mr Hussain and will be based in London. He joined AIG in 2022 as chief actuary, international commercial insurance and has held senior actuarial and risk consulting roles at Chubb, WTW and Ace.