Brian Duperreault is President and Chief Executive Officer of American International Group (AIG), succeeding Peter Hancock in May 2017.
Duperreault's illustrious industry career spans 40 years. He was President and Chief Executive Officer of Marsh & McLennan Companies from 2008 to 2012. Before joining Marsh, he served for four years as non-executive Chairman of ACE Limited, a global insurance and reinsurance company, CEO of ACE Limited from October 1994 through May 2004, and as the Company's President from October 1994 through November 1999.
Prior to joining ACE, Duperreault served in various senior executive positions with AIG and its affiliates from 1973 to 1994.
Duperreault is Chairman of Attune, the data-enabled company established by Hamilton Insurance Group, AIG and Two Sigma, and Blue Marble Microinsurance. He is the former Chairman of the Board of Overseers of the School of Risk Management of St. John's University, New York.
Duperreault is a member of the boards of the International Insurance Society, IESE Business School, Insurance Information Institute, Bermuda Institute of Ocean Sciences (BIOS), Johnson Controls, and Saint Joseph's University, Philadelphia, Pennsylvania.
He is considered one of the most successful Bermudian insurance executives, and has been credited by the Insurance Hall of Fame with helping to transform Bermuda from an island nation with a small, reinsurance-focused market into a global insurance centre. He has had only four jobs in 40 years, but their cumulative success and the esteem in which he is held have made him one of the most admired businessmen in the world. He currently resides in Bermuda.
In March 2013, Duperreault was asked by Bermuda's Finance Minister, the Hon. E.T. Richards, to chair the Spending and Government Efficiency (SAGE) Commission. The Commission's primary objective was to "streamline Government processes, including Quangos, improve delivery of services and make Government more efficient, more cost-effective, more transparent and more user-friendly." The SAGE Commission submitted a final report with recommendations on October 31, 2013.
https://www.reuters.com/article/us-aig-pay-idUSKCN1B70DT
Video Brian Duperreault
Early life
Born in Bermuda, he left with his mother for Trenton, New Jersey when he was five months old. He attended Saint Joseph's University in Philadelphia where he received a B.S. in Mathematics.
Maps Brian Duperreault
Career
After receiving his math degree from Saint Joseph's University, Duperreault served in the United States Army. During this time, he thought of becoming a professor of mathematics. Newly married, he decided he wanted a better income than an academic life could provide. After he was discharged, he researched job ideas at a library, where he learned about the actuary profession. In 1973, he started with AIG, where he held many positions, eventually heading the Company's operations in Japan and South Korea, and ultimately leading nearly all its international business. Duperreault became a credentialed actuary with the Casualty Actuarial Society in 1975.
AIG (first tenure)
Duperreault worked for AIG for over 20 years. His leadership and business acumen emerged during his time at AIG, where he began working in the Company's actuarial department in 1973. For the next 21 years, he rose to the role of Executive Vice President of AIG Foreign General Insurance, eventually becoming Chairman and Chief Executive of AIG's American International Underwriters, which comprised all of AIG's non-US commercial business.
ACE
From AIG, the Bermuda-born Duperreault made his way back home, taking the reins of ACE in 1994. Executing on an ambitious vision of product and geographic diversification, Duperreault began a series of strategic acquisitions, including the 1999 purchase of CIGNA P&C, formerly known as the Insurance Company of North America. The CIGNA acquisition played a significant role in transforming ACE into an international insurance and reinsurance powerhouse, with more than 11,000 employees, writing a wide variety of lines, in almost 50 countries.
Marsh & McLennan
In January 2008, a troubled Marsh & McLennan tempted Duperreault out of retirement. Prior to his appointment, successive quarters of disappointing results had analysts and shareholders clamoring for the breakup of the then 137-year-old company. Duperreault stepped into the role of President and CEO of MMC in 2008 feeling destined for the job and confident in the company's inherent value--and his ability to unlock it. The industry agreed, calling his appointment a "masterstroke." Duperreault's multi-year plan to restore the Marsh & McLennan name in both reputation and financial performance yielded signs of improvement almost immediately.
Hamilton Insurance Group
In December 2013, Duperreault came out of retirement a second time - this time to establish Hamilton Insurance Group, a Bermuda-based holding company, with principals of Two Sigma, a technology company, creating a promise to shift the insurance paradigm by using a variety of forms of technology, including artificial intelligence, machine learning and distributed computing, to inform and drive underwriting, as well as investment strategies.
Return to AIG
In May 2017, AIG named Duperreault as its new President and Chief Executive Officer, replacing Peter Hancock. At the same time, AIG announced that it would acquire Hamilton Insurance Group's US platform. AIG also announced expanded plans to partner with Hamilton and Two Sigma.
Personal life
Duperreault and his wife Nancy have three sons: Daniel, David and Christopher. He is a once-removed cousin of Matthew McGurk of Captive Innovative Strategies. He credits career success to his Jesuit education at Saint Joseph's University and pays loving tribute to his late mother, Margaret, for the values she instilled in him. A devout Catholic, he draws inspiration from his faith. "It's everything. It's the essence of who I am," Duperreault said. "I try to pray for guidance all the time. It's the best counsel you can seek." Duperreault claims the impact of his faith was never more apparent than when he was offered the opportunity to rehabilitate Marsh & McLennan, which had been suffering organizational and financial woes.
Philanthropy
Duperreault is a noted philanthropist, giving generously to many organizations. He donated $10 million to his alma mater Saint Joseph's University, which was the largest individual gift in the history of the university. He also worked on charitable matters in China with former US President Jimmy Carter. Duperreault has played a significant role in developing Bermuda's charitable sector, chairing the Council Partners Charitable Trust, The Centre on Philanthropy and the Bermuda Institute of Ocean Sciences (BIOS) among other non-profits, and establishing The Duperreault Fellowship, an annual scholarship for professionals looking to enhance their credentials in the field of substance abuse.
Awards and affiliations
- Member of Board of the International Insurance Society
- Member of the Board of the IESE Business School
- Member of the Board of the Insurance Information Institute
- Member of the Board of the Bermuda Institute of Ocean Sciences (BIOS)
- Chairman of the Board of Directors of Attune
- Member of the American Academy of Actuaries
- Associate of the Casualty Actuarial Society
- Chairman of the Board of Blue Marble Microinsurance
- Former member of the Association of The Metropolitan Opera
- Past Chairman of the Board of Overseers of The School of Risk Management, Insurance and Actuarial Science of St. John's University
Honors and recognition
- Insurance Hall of Fame--inducted in year 2011
- Honorary Doctorate from Saint Joseph's University - 2007
- Bermuda Insurance Institute - 2006 Lifetime Achievement Award
- Honorary Doctorate of Commercial Science Degree from St. John's University - 2006
- School of Risk Management, St. John's University - 2004 Insurance Leader of the Year
References
Source of article : Wikipedia
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