Brian Duperreault, the current CEO of AIG, has had a distinguished career in the insurance industry. He began his career at Johnson & Higgins, where he spent 18 years.
Duperreault has a strong background in risk management and insurance, which has served him well in his leadership roles. He has held various positions, including CEO of Marsh & McLennan Companies, where he led the company's transformation and growth.
AIG's current CEO has a proven track record of success in the industry, and his experience has prepared him well for his current role.
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Early Life and Career
Brian Duperreault was born in Paget, Bermuda in 1947. His mother moved to Bermuda to be near her closest friend after his parents separated.
Duperreault was educated at Catholic schools, graduating in 1965 from St. Anthony High School, since renamed Trenton Catholic Academy.
He attended Saint Joseph's University in Philadelphia, where he received a B.S. in mathematics in 1969.
Duperreault began to pursue a master's degree in mathematics at the University of Maryland but was drafted in November 1969.
He spent three years at Fort Knox, Kentucky, after enlisting in the U.S. Army in May 1970.
Duperreault had originally thought of becoming a professor of mathematics but decided he wanted a better income than an academic life could provide.
Early Life and Education
Duperreault was born in Paget, Bermuda in 1947.
His parents had separated before he was born, and his mother moved to Bermuda to be near her closest friend. She was a Catholic single mother who worked hard to provide for her child.
Duperreault was educated at Catholic schools, graduating in 1965 from St. Anthony High School, later renamed Trenton Catholic Academy.
He went on to attend Saint Joseph's University in Philadelphia, where he received a B.S. in mathematics in 1969.
Duperreault's academic pursuits were interrupted by the draft in November 1969, which led him to enlist in the U.S. Army in May 1970.
He spent three years at Fort Knox, Kentucky, serving in the U.S. Army.
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He Has Been Active
Duperreault has been very active in his role, and one of the key indicators of this is the number of senior executives he has hired and promoted.
He has brought on board at least 13 senior executives in his first year, which is a testament to his commitment to building a strong team.
Who Is?
Brian Duperreault has an estimated net worth of $169 Million. This is based on reported shares across multiple companies, which include MARSH & MCLENNAN COMPANIES, INC., AMERICAN INTERNATIONAL GROUP INC, TYCO INTERNATIONAL LTD /BER/, ASSURED GUARANTY LTD, and Chubb Ltd.
Leadership and Achievements
Brian Duperreault's leadership and achievements are truly impressive. He transformed ACE Limited from a small, niche insurer to a global multi-line insurer and reinsurer with over 9,000 employees operating in 50 countries.
Duperreault's ability to turn around struggling companies is noteworthy. He led the turnaround of Marsh & McLennan Companies, one of the world's largest insurance brokerages, after it was hit by a bid-rigging scandal in 2004.
Duperreault's approach to leadership is both direct and efficient, but also people-focused. He knows how to relate to his employees, which is a huge asset in any organization.
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Forty Years Strong
Duperreault has been in the industry for more than 40 years, and his consistent success has earned him a reputation for being goal-oriented and achieving results. He was hired at AIG as an actuary at the age of 26 in 1973.
Duperreault rose steadily through leadership positions, becoming one of AIG's most senior executives. He held various positions, including chief actuary from 1978 to 1981, and senior vice president of AIG subsidiary American Home Assurance from 1981 through 1988.
Duperreault's long tenure at AIG, 21 years, was marked by significant promotions, including becoming president of American International Underwriters in 1991. He was concurrently named executive vice president of AIG's Foreign General Insurance in June 1993.
Despite being considered a potential successor to Greenberg, Duperreault resigned in September 1994 to head ACE Limited, one of AIG's competitors.
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Ace Limited
Brian Duperreault took the helm at ACE Limited in October 1994, transforming the boutique specialty insurance company into a global multi-line insurer and reinsurer.
He expanded and diversified the company through targeted acquisitions, adding new lines of insurance such as satellite, financial lines, aviation, and excess property coverages.
Duperreault led the acquisitions of Tempest Re, Methuen, and Ockham in 1996, and formed a joint venture to create Sovereign Risk Insurance in 1997.
In 1998, he acquired Tarquin plc, CAT Limited, and Westchester Specialty Group, and made ACE's largest acquisition, Insurance Company of North America, in 1999.
Duperreault restructured ACE's operations into two main groups, ACE U.S and Bermuda, and ACE International, in 2001, each headed by its own chief executive.
He partnered with Huatai Insurance Company of China in 2002, allowing both companies to develop new products and services for delivery nationally in China.
Duperreault's leadership at ACE for 10 years transformed Bermuda from a small reinsurance-focused market into a global insurance center.
The ACE Limited board of directors honored Duperreault by establishing and funding the Brian Duperreault Endowed Chair for Risk Management and Insurance at Saint Joseph's University in 2004.
Duperreault resigned as CEO in May 2004, but retained his position as chairman of the board, and Evan Greenberg took over as president and CEO.
Duperreault retired in May 2006, becoming non-executive chairman of ACE.
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Marsh & McLennan
Marsh & McLennan was in a serious crisis in 2008, suffering heavy outflows from a bid-rigging scandal that cost $850 million in 2005, plus additional annual costs and a prohibition on contingent commissions.
Brian Duperreault was brought in to lead the company's turnaround and immediately put into action an emergency program to restore profitability.
He announced plans to divest underperforming assets, lay off hundreds of employees, and build a strong new executive management team.
Duperreault also implemented greater expense discipline across the company and evaluated the overall business for fit and synergy.
He sold Kroll Inc.'s government services business and Kroll Factual Data, and moved Kroll's corporate advisory and restructuring business into a separate unit.
After five years as president and CEO, Duperreault retired on December 31, 2012, having streamlined costs, the company, the workforce, and service delivery, and returned MMC to profitability and growth.
Duperreault's leadership and strategy helped rebuild morale and reputation, and revive the confidence of investors and clients.
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He was named to the U.S. Treasury's inaugural Federal Advisory Committee on Insurance in 2011 and its first chairman in 2012.
Duperreault's approach to leadership is both direct and efficient, but he also knows how to relate to his employees, which is huge.
He has a reputation for putting companies in the proper position to withstand the push of competition and is widely praised for his massive turnaround at Marsh & McLennan.
Improving Company Position
Brian Duperreault has a reputation for putting companies in the proper position to withstand the push of competition. He has a proven track record of transforming struggling companies into successful ones.
A prime example of this is his work at ACE Limited, where he transformed the company from a niche boutique Bermuda-based insurer to a major global multi-line insurer and reinsurer. This was achieved through a series of targeted acquisitions and strategic partnerships.
Duperreault's leadership of ACE for 10 years has been credited as instrumental in transforming Bermuda from an island nation with a small, reinsurance-focused market into a global insurance center. This is a testament to his ability to identify opportunities and capitalize on them.
One of the key strategies Duperreault employed at ACE was the acquisition of new lines of insurance, including satellite, financial lines, aviation, and excess property coverages. This helped to diversify the company's portfolio and increase its competitiveness.
Duperreault's approach to leadership is centered around creating a strong foundation for long-term success. He has a straight-to-the-source approach that is both direct and efficient, but also knows how to relate to his employees. This has helped him to build a loyal and dedicated team.
In 2011, Duperreault was named to the U.S. Treasury's inaugural Federal Advisory Committee on Insurance, and in 2012, he was named its first chairman. This appointment is a testament to his expertise and reputation in the industry.
Sec Cik
Sec Cik is a crucial aspect of effective leadership. It stands for "Specific, Easy, Challenging, and Key", and it's a framework used to set and achieve goals.
A specific goal is one that clearly defines what needs to be accomplished. For example, instead of saying "I want to be healthier", a specific goal would be "I will exercise for 30 minutes, three times a week."
Easy goals are those that are achievable and require minimal effort. However, easy goals are not always the most effective, as they may not challenge individuals to grow or improve.
Challenging goals, on the other hand, push individuals out of their comfort zones and require more effort and dedication. A challenging goal might be "I will learn a new skill or hobby within the next six months."
A key goal is one that aligns with an individual's values and priorities. It's essential to identify what's most important and focus on achieving those goals first.
Past Insider Trading and Trends
Brian Duperreault's most active year for acquiring shares was 2019, with a total of 15 transactions.
He was particularly active in February of that year, making it his most active month for acquiring stocks.
In 2007, Duperreault's most active year for disposing of shares, he had a total of 171 transactions.
September of that year was his most active month for disposing of stocks.
Duperreault's largest single-year acquisition was in 2011, when he spent a total of $12,225,990.00 on 1,520,059 shares.
His largest year based on trade value was 2012, when he cashed out on 1,429,261 shares for a total of $23,506,595.48.
Frequently Asked Questions
Who is the CEO of AIG 2017?
The CEO of AIG in 2017 was Brian Duperreault, who took office on May 14, 2017. He served as President, Chief Executive Officer, and Director of the company.
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