Former American International Group and XL executive Seraina Maag is joining Bermuda-based Hamilton Insurance Group as chief executive officer of Hamilton USA, the insurer’s platform for the U.S.
Reporting to Hamilton Chairman and CEO Brian Duperreault, Maag will be responsible for overseeing the development of Hamilton’s insurance platform in the U.S. She takes over the position of CEO from Chief Strategy Officer and Acting CEO Bob Deutsch.
The hire comes just a few days after Hamilton announced a partnership with AIG and Two Sigma to launch Attune, a technology-enabled insurance platform for sales to the $80 billion small to medium-sized enterprise (SME) market in North America. The venture will offer pricing and servicing using predictive analytics and an easy-to-use customer interface.
With the joint venture goes after the SME market, Duperreault said Maag will focus on the rest of the $420 billion U.S. property/casualty insurance market.
Maag’s 25-year insurance career includes executive positions at AIG where, most recently, she was CEO and executive vice president of Regional Management & Operations and was a member of AIG’s Executive Leadership Team. She was named to that post in December, 2015 by AIG CEO Peter Hancock in a management shake-up, only to be cut along with another senior executive two months later in another overhaul by Hancock.
Prior to December 2015, Maag was CEO and president of AIG Europe, Middle East with responsibility for 47 countries across Europe, Middle East and Africa. She was hired for that post in 2013.
Maag’s increasingly senior roles in the industry have included CEO of XL Insurance North America, president of Zurich North America Commercial Specialties business, and head of Investor Relations and Rating Agency Management of Zurich Insurance Group. She was also a founding partner and financial analyst for NZB NeueZuercher Bank in Switzerland. Between 1990 and 2000, she held various management positions within underwriting and finance at SwissRe in Switzerland and Australia.
She has received numerous industry awards including the INN Women in Insurance Leadership Award (2012). She was nominated as Young Global Leader (YGL) by the World Economic Forum in 2009 and, in the same year, was a Business Insurance Women to Watch honoree.
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