Hartford CEO Swift Named Chairman of AIA
March 11, 2016 by David Pilla, news editor, BestWeek: David.Pilla@ambest.com
WASHINGTON – The American Insurance Association said Christopher J. Swift, chairman and chief executive officer of Hartford Financial Services Group Inc., will become chairman of the trade group’s board of directors at its March meeting. He will serve a one-year term.
Swift succeeds Michael S. McGavick, CEO of XL Group plc, who served as chairman during the past year.
“AIA thanks Mike McGavick for his outstanding stewardship over the past year and is thrilled to have Chris Swift serve as our next chairman,” said Leigh Ann Pusey, president and CEO of AIA, in a statement.
“I look forward to working with the board of directors and AIA staff on important policy issues, such as the pace of technological change, cybersecurity risk and the changing regulatory environment, each of which have important consequences for consumers, our industry and the regulatory community,” said Swift in a statement.
In March 2010, Swift joined Hartford as executive vice president and chief financial officer. He became CEO in June 2014.
Swift is on the board of the Insurance Information Institute.
The American Insurance Association is a property/casualty insurance trade organization, representing about 325 insurers that write more than $127 billion in premiums.
Among the larger recent issues the AIA has been involved with is an effort to urged federal lawmakers to carve out room at the international negotiating table for federal and state regulators so they can make sure new rules on supervising globally active insurance companies don’t tilt the market against U.S.-based firms (Best’s News Service, Feb. 25, 2016).
“It is becoming clear that U.S. insurance groups with operations outside of the United States could face significant burdens if issues surrounding mutual recognition are not addressed,” Wes McClelland, AIA vice president, federal affairs, said in recent written testimony.
Units of Hartford Financial Services Group Inc. have current Best’s Financial Strength Ratings of A+ (Superior). Units of XL Group plc have current Best’s Financial Strength Ratings of A (Excellent).
