American International Group (AIG) has announced the appointment of Seraina Maag as the new president and CEO of its Europe, Middle East and Africa (EMEA) region, effective Nov. 11, 2013.

She has held commercial insurance underwriting and finance roles in Europe, the United States and Australia during 20 years in the industry. She joins AIG from the XL Group, where she was CEO of the North American P&C unit, with some global responsibility for the company’s excess casualty and surety lines.

Maag was a 2012 recipient of the Women in Insurance Leadership Award for her work with XL Group; you can read her profile here.

At AIG, Maag will be based in London, where she will oversee business in the 47 countries that comprise AIG’s EMEA region. She will succeed Nicholas Walsh, who has been serving as the region’s interim head since April, and report directly to Peter Hancock, CEO of AIG Property Casualty.

Prior to XL Group, Maag was President of Zurich North America’s commercial specialties unit, where she managed all aspects of its U.S. operations, including A&H, excess and E&S casualty, management solutions group (D&O, EPLI, fiduciary liability and crime), professional liability, surety, political risk and trade credit. She was promoted to this position after serving as the unit’s CFO. Maag also served as head of Investor Relations and Rating Agencies for Zurich Financial Services in Switzerland, where she was responsible for managing relationships with global investors, analysts and rating agencies.

Before joining Zurich in 2002, Maag was a founding partner and financial analyst for NZB Neue Zuercher Bank in Switzerland. Between 1990 and 2000, she held various management positions in underwriting and finance at Swiss Reinsurance in Switzerland and Australia.

Maag was elected a Young Global Leader by the World Economic Forum in 2009.

EMEA (Europe, Middle East and Africa) is one of three regions comprising AIG’s property/casualty business. The EMEA region is headquartered in London and Dubai, with over 7,400 employees operating out of 47 countries across the region. 

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