American European Group has appointed Peter J. Livaich as senior vice president of AE Specialty, a newly formed property underwriting manager that will target distressed, coastal and large property risks throughout the United States.
Livaich is a forty-year insurance industry veteran who comes to AEG from Columbia, SC-based Companion Property and Casualty Group, where he served for two years as property underwriting officer. Prior to that, Livaich spent nine years at Bala Cynwyd, PA-based Global Indemnity, where he held multiple SVP positions, one of which entailed the launch and ongoing management of a successful start-up nationwide E&S property brokerage division with an eight-year loss ratio of 48 percent including catastrophe results. Livaich also held executive positions at United States Liability Insurance Group, Philadelphia Insurance Company and CGU Insurance Company.
In his new position, Livaich will have full P&L responsibility for the AE Specialty business unit.
“Peter is recognized within the insurance industry for his ability to build diversified property insurance portfolios and has a long track record of producing consistent underwriting profits for his carriers,” said Nachum Stein, President and CEO of AEG. “He will be a tremendous asset to AE Specialty, which is a key component of AEG’s long-term strategy of building fee-based earnings.”
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