Chartis restructures around two main units

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Peter Hancock replaces Kristian Moor as chief

Chartis, the global non-life insurance division of AIG, has restructured and named a new chief executive.

Chartis will now be organised around two main global groups – commercial and consumer - with the supporting claims, actuarial, and underwriting disciplines integrated into these two major business operations.

Peter Hancock, currently AIG executive vice-president of finance, risk and investments, has been named chief executive of Chartis, replacing Kristian Moor. Moor has been named vice-chairman of Chartis, reporting to Hancock.

John Doyle, previously chief executive of Chartis US, will run the global commercial business, and Jeffrey Hayman, currently Chartis’ chief administrative officer, will lead the global consumer business. Doyle and Hayman will be responsible for their groups’ overall underwriting and business results and will report to Hancock.

According to Chartis, the new structure clarifies and strengthens accountability for underwriting, distribution, product development, risk management, and claims.

“Our top priorities for our property casualty businesses are to strengthen all aspects of our underwriting, claims management, reserving, and risk management so that we consistently earn the right risk-adjusted returns,” said AIG chief executive Robert Benmosche in a statement.

“We believe this model – which aligns accountability for the business we write today with the long-term performance of that business – will drive the creation of even better products and services for our clients while delivering the performance that our clients and the investment community expect of us.”

New Chartis management structure at a glance: