What's this renewal rights transfer supposed to mean for us? Some former colleagues went there with huge pay increase, they'll start regretting it now I guess
11 replies (most recent on top)
@72y - not true. People are moving from Everest to AIG but there was no commitment from, or restriction on, AIG to do so. As big as AIG is, no way they can roll nearly $2b into their portfolios without additional staffing need in some lines.
There is no increased headcount at AIG for the Everest renewal book acquisition. They're not hiring anybody from Everest they're not hiring anybody from anywhere. AIG has become a sweatshop.
@qq how do you know he/ she was responsible for riffs? Do you think a simple employee makes this type of decision?
I know some di-k from the analytics finance team who was responsible for the rifs here then he went to Everest and now he will get riffed. Feels so good
@cd Vidovich was a j**k, he was removed from claims and probably put in an useless position in queque for next layoff wave . However, Everest selling his portfolio came out of nowhere for me, it really surprised me, even more that AIG bought their business...
@ea because AIG needs Everest support for the transition, for now (transfer will happen in 2026), and if everyone leaves who will manage it? This is what I heard
Why would AIG be barred from hiring from Everest? Where have you heard that from and what is the reason? Makes no sense at all!
AIG are acquiring renewal rights only and makes sense to lift a load of folks who are about to be RIF’d at Everest. AIG could also get them on the cheap.
They sold the business behind everyone s back
@cd nope, no redundancies, because we are aquiring only the portfolio, unfortunately mass layoffs are coming for them. Also, AIG offices are forbidden to hire people from everest at the moment
@a4 rumors are that Everest needed cash due to how businesses were going in North America ... I wonder if, after all the shrinking, AIG is going to bet big again
I don't think anyone told HR at Everest. They are still advertising vacancies. Sounds like a lot of people there are going to be looking for new jobs.