American International Group (AIG) announced Tom Bolt is taking the reins as executive vice president and chief risk officer.

He will report to Peter Zaffino, chairman and chief executive officer, and has joined the executive leadership team.

Bolt has served as chief underwriting officer, general insurance since 2018 and joined AIG from Berkshire Hathaway Specialty Insurance, where he was president and CEO of the U.K. and Southern Europe and a member of its board of directors.

Prior to that, Bolt was director of performance management at Lloyd’s of London and managing director of Marlborough Managing Agency at Lloyd’s. Before joining Lloyd’s, he spent 25 years at Berkshire Hathaway in a variety of senior executive roles.

Bolt replaces Sabra Purtill, who was recently named executive vice president and chief investment officer for AIG’s life and retirement business.

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