American International Group, Inc. announced that it has appointed Seraina Maag as the new president and chief executive officer of its Europe, Middle East, and Africa (EMEA) region, effective November 11, 2013.
Maag has held commercial insurance underwriting and finance roles in Europe, the United States, and Australia over a career spanning more than 20 years. She joins AIG from the XL Group, where she was chief executive, North American Property & Casualty, and also held global responsibility for Excess Casualty and Surety.
At AIG, she will oversee the insurance businesses in the 47 countries that comprise AIG’s EMEA region. Based in London, she will report directly to Peter D. Hancock, CEO of AIG Property Casualty. She succeeds Nicholas Walsh, who has been serving as the region’s interim head since April. Walsh will resume his role as vice chairman, AIG Property Casualty, and will continue to hold his existing positions on the boards of AIG Europe Ltd., AIG Asia Pacific Pte. Ltd, and Tata AIG.
Prior to XL Group, Maag was president of Zurich North America Commercial’s Specialties business unit, where she managed all aspects of U.S. operations, including A&H, Excess and E&S Casualty, Management Solutions Group (D&O, EPLI, Fiduciary Liability, and Crime), Professional Liability, Surety, Political Risk, and Trade Credit. She was promoted to this position after serving as the unit’s chief financial officer. She also served as head of Investor Relations and Rating Agencies for Zurich Financial Services in Switzerland, where she was responsible for managing relationships with global investors, analysts, and rating agencies.
Maag was elected a Young Global Leader by the World Economic Forum in 2009 and was named one of Business Insurance magazine’s Women to Watch.
EMEA (Europe, Middle East and Africa) is one of three regions comprising AIG’s Property Casualty business. The EMEA region is headquartered in London and Dubai, with over 7,400 employees operating out of 47 countries across the region.
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