50 Facts About Brian Duperreault

Brian Charles Duperreault was born on May 8,1947 and is a Bermuda-born American executive in the insurance industry.

Brian Duperreault stepped down as executive chairman of American International Group in December 2021.

Brian Duperreault quickly rose through the ranks to become one of AIG's most senior executives, eventually heading all of AIG's international operations.

Brian Duperreault was regarded as a likely successor to CEO Hank Greenberg, but as Greenberg showed no signs of retiring Duperreault left AIG in 1994 to head ACE Limited, a boutique specialty-insurance company based in Bermuda.

Brian Duperreault retired again on December 31,2012, but soon became interested enough in cutting-edge data analytics to create an insurance company focused on advanced data science with the co-founders of the hedge fund Two Sigma Investments, a leader in quantitative analysis.

Brian Duperreault grew the company via acquisitions, including insurance and reinsurance, operations in the US, and a syndicate at Lloyd's of London.

In 2017, AIG, still underperforming after its long saga following the 2008 financial crisis, called upon Brian Duperreault to turn around the company following then-CEO Peter Hancock's March 2017 resignation.

Brian Duperreault began his tenure as CEO by immediately curtailing share buybacks and instead using capital for acquisitions.

Brian Duperreault installed a new team of top-tier senior management and 125 senior underwriters to execute his vision of tighter efficiencies and smarter risk-taking.

Brian Duperreault eliminated AIG's prior separation into commercial and consumer businesses, instead restructuring the company into three new units: General Insurance, Life and Retirement, and a stand-alone technology unit called Blackboard Insurance which had been Hamilton's US division acquired by AIG upon his hiring.

Brian Duperreault's parents had separated before he was born, and in order to be near her closest friend, his mother had moved to Bermuda.

Brian Duperreault was educated at Catholic schools, graduating in 1965 from St Anthony High School, since renamed Trenton Catholic Academy.

Brian Duperreault began to pursue a master's degree in mathematics at the University of Maryland but was drafted in November 1969.

Brian Duperreault had originally thought of becoming a professor of mathematics but, newly married, he decided he wanted a better income than an academic life could provide.

At the age of 26 in 1973, shortly after completing his military service, Brian Duperreault was hired at AIG as an actuary.

Brian Duperreault was chief actuary from 1978 to 1981, senior vice president of AIG subsidiary American Home Assurance from 1981 through 1988, and chief casualty officer from 1985 through 1987.

Brian Duperreault was long considered by industry colleagues and Wall Street analysts to be a potential successor to Greenberg, but Greenberg showed no signs of retiring, and after 21 years at AIG, Duperreault resigned in September 1994 to head ACE Limited, one of AIG's competitors.

In October 1994 Brian Duperreault became the chairman, president, and CEO of ACE Limited, which at the time was a boutique specialty insurance company based in Bermuda with 50 employees.

Brian Duperreault greatly expanded and diversified the company, particularly via targeted acquisitions.

Brian Duperreault quickly added new lines of insurance, including satellite, financial lines, aviation, and excess property coverages.

In 2001 Brian Duperreault restructured ACE's operations into two main groups, ACE USand Bermuda, and ACE International, with each group headed by its own chief executive.

Brian Duperreault retained his position as chairman of the board, and his successor as president and CEO was Evan Greenberg, son of AIG CEO Hank Greenberg and one of Duppereault's protege's while he was at AIG; Duperreault had hired him away from AIG in 2001 to head Ace Tempest Re.

In September 2004, four months after he stepped down as CEO, the ACE Limited board of directors honored Duperreault by establishing and funding the Brian Duperreault Endowed Chair for Risk Management and Insurance at Duperreault's alma mater, Saint Joseph's University.

In May 2006 Brian Duperreault retired, becoming non-executive chairman of ACE.

Brian Duperreault was in the midst of a serious crisis, suffering heavy outflows from a bid-rigging scandal in 2004 that cost an initial $850 million settlement in 2005, plus additional substantial annual costs and a prohibition on contingent commissions.

Brian Duperreault immediately put into action an emergency turnaround program, announcing plans to divest underperforming assets and immediately lay off hundreds of employees in an effort to restore profitability.

Brian Duperreault quickly built a strong new executive management team at the corporate and operating levels, implemented greater expense discipline across the company, and evaluated the overall business for fit and synergy.

Brian Duperreault had streamlined costs, the company, the workforce, and service delivery, returned MMC to profitability and growth, rebuilt morale and reputation, and revived the confidence of investors and clients.

Brian Duperreault had established a long-term strategy as a foundation for continued success after his departure.

In 2013 Brian Duperreault became intrigued with the use of cutting-edge data analytics and data science in insurance, after meeting with co-founders of the hedge fund Two Sigma Investments, a leader in quantitative analysis.

Brian Duperreault came out of retirement a second time to co-found Hamilton Insurance Group in December 2013 with the principals of Two Sigma, and to be its CEO.

In February 2016, Weill retired as Chairman of Hamilton Insurance Group and Hamilton Re, and Brian Duperreault succeeded him, retaining his position as CEO.

In May 2017, Brian Duperreault was hired as CEO of AIG, following Peter Hancock's March 2017 announcement to step down under pressure after what had been a significant period of disappointing financial results.

In conjunction with Brian Duperreault's hiring, AIG acquired Hamilton USA, its US platform, and later renamed it Blackboard; AIG entered into a strategic reinsurance partnership with Hamilton Re; and Attune, the joint venture between AIG, Hamilton, and Two Sigma, expanded its target market to include larger companies.

Brian Duperreault immediately announced that he would grow AIG, rather than shrink it or break it up.

Brian Duperreault curtailed the practice of share buybacks, asserting that a better use of capital was acquisition of smaller companies.

Brian Duperreault let his business heads set their own budgets and performance goals, gave underwriters more autonomy, and took steps to make the job environment more amenable to younger, tech-savvy employees.

Brian Duperreault instituted plans to cut costs and to exploit scale in dealing with suppliers and property expenses.

Brian Duperreault initiated company-wide efforts for smarter, better-calculated risk-taking in underwriting,.

In February 2019 Brian Duperreault noted that before his arrival as CEO a company-wide "go large" strategy at AIG had created out-sized risk, volatility, and losses, often exacerbated by multi-year contracts.

Brian Duperreault stated that his team was investigating and realigning every aspect of AIG's General Insurance risks, re-positioning its private-client personal-insurance portfolios to reduce catastrophe risk, and investing more heavily in technology in AIG's Life and Retirement units.

Brian Duperreault said the new executive team had restructured AIG, re-underwritten its book of business, and overhauled its reinsurance buying strategy.

Brian Duperreault is a member of the Wall Street Journal CEO Council.

Brian Duperreault is on the Board of Trustees of Saint Joseph's University and the Bermuda Institute of Ocean Sciences.

Brian Duperreault donated $10 million to Saint Joseph's University, his alma mater, making the largest individual gift in the history of the university.

Brian Duperreault worked on charitable projects in China with former US President Jimmy Carter.

Brian Duperreault has played a significant role in developing Bermuda's charitable sector, and has been chairman of The Council Partners Charitable Trust, The Centre on Philanthropy, the Bermuda Institute of Ocean Sciences, and other Bermuda non-profits.

Brian Duperreault has championed diversity in employment, and has spoken on the need to actively confront unconscious bias when hiring.

Brian Duperreault has spoken repeatedly about gender bias, particularly in the insurance industry.

Brian Duperreault is currently based in the New York City area.