AIG has appointed Chris Colahan Asia Pacific Regional President, replacing Singapore-based Steven Barnett, who departs after 31 years at the insurer.

Mr Colahan, who was formerly president of Berkshire Hathaway Specialty Insurance (BHSI) Australasia, says it’s a privilege to join AIG, an “industry leader with world-class capabilities”.

“AIG is known for delivering excellence in everything it does and I am confident we will successfully execute on the Asia Pacific strategy with precision and a focus on quality outcomes,” he said.

The appointment comes after AIG Australia CEO Nigel Fitzgerald departed to join Steadfast as COO. A spokesperson told insuranceNEWS.com.au there was no update yet on his replacement.

Mr Colahan was most recently BHSI President of UK & Europe, and has more than two decades of insurance industry experience, including as RSA Asia Regional CEO.

He will report to AIG International General Insurance CEO Jon Hancock, who says the Asia Pacific region – which encompasses the Australian business – is an important market for AIG.

“We are fortunate to have someone with Chris’ industry experience and vast knowledge of the Asia Pacific marketplace join AIG,” Mr Hancock said.

"With Chris’ leadership, we expect to expand our business and capabilities, deepen relationships with distribution partners and clients, and continue to demonstrate our risk management expertise.”