American International Group Inc. (AIG) has announced that Anthony Philip will take over as president and CEO of American International Co. Ltd. in Bermuda.

Philip, a native of Bermuda, will assume his new position effective immediately. He succeeds David Valzania, who was recently named as head of Global Risk Solutions (GRS) for the U.S. and Canada.

In his new role, Philip will be responsible for leading AIG’s business strategies in Bermuda as part of AIG’s Americas region as well as managing all of AIG’s daily operations in the country, including financial and general business matters. In addition, Philip will oversee regulatory matters and will act as AIG’s principal liaison with the Bermuda Monetary Authority.

Philip will serve on the boards of American International Reinsurance Company, Ltd. (AIRCO) and American International Overseas Ltd.

“We are very pleased to have Anthony leading our operations in the country,” said Rob Schimek, president and CEO of AIG for the Americas Region. “He brings a wealth of knowledge about the business and regulatory environment in Bermuda through his background in corporate law and previous experience working at the Bermuda Monetary Authority.”

Philip joined AIG in 2008 as SVP and general counsel for AIG in Bermuda, where he was responsible for advising on Bermuda law, regulation and corporate governance, and managing corporate administration and compliance for the 35 AIG companies in Bermuda.

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