Brian Duperreault

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Brian Duperreault
Brian Duperreault.jpg
Brian Duperreault
Born
NationalityAmerican and Bermudian
EducationB.S. Mathematics
Alma materSaint Joseph's University
OccupationPresident and CEO of American International Group (AIG)
Years active2017–present

Brian Duperreault is President and Chief Executive Officer of American International Group (AIG), succeeding Peter Hancock in May 2017.

Duperreault's career spans 40 years. He was President and Chief Executive Officer of Marsh & McLennan Companies from 2008 to 2012. Before joining Marsh, he served for four years as non-executive Chairman of ACE Limited, a global insurance and reinsurance company, CEO of ACE Limited from October 1994 through May 2004, and as the Company's President from October 1994 through November 1999.

Prior to joining ACE, Duperreault served in various senior executive positions with AIG and its affiliates from 1973 to 1994.

Duperreault is Chairman of Attune, a data-enabled company established by Hamilton Insurance Group, AIG and Two Sigma. He is the Chairman Emeritus of Blue Marble Microinsurance and former Chairman of the Board of Overseers of the School of Risk Management of St. John’s University, New York.

Duperreault is a member of the boards of the International Insurance Society, IESE Business School, Insurance Information Institute, Bermuda Institute of Ocean Sciences (BIOS), Johnson Controls, and Saint Joseph’s University, Philadelphia, Pennsylvania.

He is credited by the Insurance Hall of Fame with helping to transform Bermuda from an island nation with a small, reinsurance-focused market into a global insurance centre.[1][2] [3] He currently resides in Bermuda.

In March 2013, Duperreault was asked by Bermuda's Finance Minister, the Hon. E.T. Richards,[4] to chair the Spending and Government Efficiency (SAGE) Commission.[5] The Commission's primary objective was to make government more efficient, cost-effective, transparent and user-friendly. The SAGE Commission submitted a final report with recommendations on October 31, 2013.[6]

Early life[edit]

Born in Bermuda, he left with his mother for Trenton, New Jersey when he was five months old.[7] He attended Saint Joseph's University in Philadelphia where he received a B.S. in Mathematics.[8]

Career[edit]

After receiving his degree Duperreault served in the United States Army.[9] He considered becoming a mathematics professor, but newly married, he decided he wanted a better income than an academic life could provide.[10] After he was discharged, he researched job ideas at a library, where he learned about the actuary profession.[11] In 1973, he started with AIG, where he held many positions, eventually heading the Company's operations in Japan and South Korea, and ultimately leading nearly all its international business.[12] Duperreault became a credentialed actuary with the Casualty Actuarial Society in 1975.[13]

Hamilton Insurance Group[edit]

In December 2013, Duperreault came out of retirement a second time to establish Hamilton Insurance Group, a Bermuda-based holding company, with principals of Two Sigma, a technology company,[14] The company goal was to use a variety of forms of technology, including artificial intelligence, machine learning and distributed computing, to improve underwriting and investment strategies.[15]

Return to AIG[edit]

In May 2017, AIG named Duperreault as its new President and Chief Executive Officer, replacing Peter Hancock. At the same time AIG announced that it would acquire Hamilton Insurance Group's US platform and partner with Hamilton and Two Sigma.[16][17]

Personal life[edit]

Duperreault and his wife Nancy have three sons: Daniel, David and Christopher. He credits his career success to his Jesuit education at Saint Joseph’s University.[18] A devout Catholic, he said of his faith, "It’s everything. It’s the essence of who I am. I try to pray for guidance all the time. It’s the best counsel you can seek."[19] Duperreault claims the impact of his faith was most apparent when he was offered the opportunity to rehabilitate Marsh & McLennan, which had been suffering organizational and financial woes.[20]

Philanthropy[edit]

Duperreault donated $10 million to his alma mater Saint Joseph’s University, the largest individual gift in the history of the university.[21] He also worked on charitable matters in China with former US President Jimmy Carter.[22] Duperreault developed Bermuda’s charitable sector, chairing the Council Partners Charitable Trust, The Centre on Philanthropy, the Bermuda Institute of Ocean Sciences (BIOS), and establishing The Duperreault Fellowship, an annual scholarship for professionals to enhance their credentials in combating substance abuse.[23]

Awards and affiliations[edit]

  • Member of Board of the International Insurance Society
  • Member of the Board of the IESE Business School
  • Member of the Board of the Insurance Information Institute
  • Member of the Board of the Bermuda Institute of Ocean Sciences (BIOS)
  • Chairman of the Board of Directors of Attune
  • Member of the American Academy of Actuaries
  • Associate of the Casualty Actuarial Society
  • Chairman of the Board of Blue Marble Microinsurance
  • Former member of the Association of The Metropolitan Opera
  • Past Chairman of the Board of Overseers of The School of Risk Management, Insurance and Actuarial Science of St. John’s University

Honors and recognition[edit]

  • Insurance Hall of Fame—inducted in year 2011[24]
  • Honorary Doctorate from Saint Joseph's University - 2007
  • Bermuda Insurance Institute - 2006 Lifetime Achievement Award
  • Honorary Doctorate of Commercial Science Degree from St. John's University - 2006
  • School of Risk Management, St. John's University - 2004 Insurance Leader of the Year

References[edit]

  1. ^ "Brian Duperreault". Insurance Hall of Fame.
  2. ^ Bernews http://bernews.com/bermuda-profiles/brian-duperreault/. Missing or empty |title= (help)
  3. ^ Davis Johnson, Wendy. "Faith is my inspiration, says Duperreault on retirement from Marsh". The Royal Gazette. Retrieved Jan 16, 2013.
  4. ^ One Bermuda Alliance http://oba.bm/index.php/latestnews/643-sage-commission-appointed/. Missing or empty |title= (help)
  5. ^ Royal Gazette http://www.royalgazette.com/article/20130301/NEWS/702289910/. Missing or empty |title= (help)
  6. ^ Parliament.bm http://www.parliament.bm/uploadedFiles/Content/Home/SAGE%20Commission%20Final%20Report.pdf/. Missing or empty |title= (help)
  7. ^ Bernews http://bernews.com/bermuda-profiles/brian-duperreault/. Missing or empty |title= (help)
  8. ^ Bloomberg https://www.bloomberg.com/research/stocks/people/person.asp?personId=203030&ticker=MMC. Missing or empty |title= (help)
  9. ^ Treaster, Joseph. "An Insurer Goes Against the Odds; Ace Bucks the Trend and Expands in Commercial Coverage" (January 26, 1999).
  10. ^ Treaster, Joseoph (January 26, 1999). "An Insurer Goes Against the Odds; Ace Bucks the Trend and Expands in Commercial Coverage". New York Times.
  11. ^ Treaster, Joseph. "An Insurer Goes Against the Odds; Ace Bucks the Trend and Expands in Commercial Coverage" (January 26, 1999).
  12. ^ Treaster, Joseph. "An Insurer Goes Against the Odds; Ace Bucks the Trend and Expands in Commercial Coverage" (January 26, 1999).
  13. ^ "CAS Member Named CEO of AIG" (May 15, 2017).
  14. ^ Bloomberg https://www.bloomberg.com/research/stocks/people/person.asp?personId=203030&ticker=MMC. Missing or empty |title= (help)
  15. ^ "Back for a reason: interview with Brian Duperreault". Intelligent Insurer. Retrieved 2014-11-27.
  16. ^ "Brian Duperreault".
  17. ^ http://www.foxbusiness.com/features/2017/05/15/aig-names-brian-duperreault-as-ceo-4th-update.html
  18. ^ Davis Johnson, Wendy. "Faith is my inspiration, says Duperreault on retirement from Marsh". The Royal Gazette. Retrieved Jan 16, 2013.
  19. ^ Davis Johnson, Wendy. "Faith is my inspiration, says Duperreault on retirement from Marsh". The Royal Gazette. Retrieved Jan 16, 2013.
  20. ^ Davis Johnson, Wendy. "Faith is my inspiration, says Duperreault on retirement from Marsh". The Royal Gazette. Retrieved Jan 16, 2013.
  21. ^ Bernews http://bernews.com/bermuda-profiles/brian-duperreault/. Missing or empty |title= (help)
  22. ^ Bernews http://bernews.com/bermuda-profiles/brian-duperreault/. Missing or empty |title= (help)
  23. ^ Davis Johnson, Wendy. "Faith is my inspiration, says Duperreault on retirement from Marsh". The Royal Gazette. Retrieved Jan 16, 2013.
  24. ^ "Brian Duperreault". Insurance Hall of Fame.