American International Group (AIG) announced that Chris Townsend will join the company as chief executive officer, International General Insurance.
In this newly created role, Townsend will lead the international operations of AIG’s General Insurance business, with responsibility for executing its growth strategy and building on the company’s international footprint to support a profitable, client-focused organization, AIG said in a statement.
He will report to Peter Zaffino, chief executive officer, General Insurance, as a member of the General Insurance Executive Leadership Team and is expected to join the company in the first quarter of 2018.
Townsend has over 25 years of experience in the insurance industry. He previously served as president of MetLife’s Asia region, with responsibility for all businesses and operations across 11 markets in Asia, and as a member of the company’s Executive Group.
He joined MetLife from AIG, where he held senior roles with increasing responsibility based out of London, New York, Singapore, Sydney and Hong Kong. From 2010 to 2012, Townsend was chief executive officer of AIG’s Asia Pacific region, with oversight of 15 countries, and helped drive capital optimization, cost efficiency and above average returns on equity.
He serves on the board of the Japan Society and holds a number of advisory positions, including as adviser to the Asia Society, vice chairman of the U.S.-Korea Business Council, and a member of the international advisory council to the Guangdong Government. He is a Chartered Insurer.
“We are extremely pleased to welcome Chris back to AIG,” said Zaffino. “He is a highly experienced leader in the insurance industry who knows our company well. He brings deep international expertise to our team, as well as a proven track record of delivering strong financial and operating results. I look forward to partnering with Chris as we strategically position General Insurance for the future.”
Townsend said: “I started my career at AIG, and it feels great to be returning and to be part of the next era in the company’s long history. I look forward to working with Peter and his talented team to build on AIG’s strong global footprint and contribute to a growing, successful future.”