AIG has established a new arm to consolidate its “assumed reinsurance operations” into one global business.

Validus Re, AlphaCat and Talbot Treaty will be housed under the AIG Re division, led by CEO Christopher Schaper, who is joining the group from Marsh.

Mr Schaper starts next month, based in Bermuda and reporting to AIG General Insurance President and CEO and Global COO Peter Zaffino.

“[Mr Schaper] will lead AIG Re’s delivery of differentiated value to our clients through the creation of new pools of risk and the deployment of alternative capital,” Mr Zaffino said.