American International Group (AIG) has announced that Richard Olsen will join the company as chief actuary, GI, effective immediately.
Olsen will be based in New York and will report to Mark Lyons, executive vice president & chief financial offer, AIG.
Olsen will lead the GI global actuarial organisation, with responsibility for aligning pricing, portfolio and reserving practices with AIG’s business objective of improving underwriting profitability, as well as providing guidance on portfolio optimisation to help inform GI strategy.
Olsen brings over 30 years of industry experience to AIG. Most recently, he was CFO of Munich Re’s U.S. P&C reinsurance subsidiary, where his responsibilities included financial management, information technology and enterprise risk management for US operations.
Previously, he served as head of central reserving at Munich Re and spent 21 years with General Re Corporation, as senior vice president & actuary for Cologne Re.