AIG’s Tom Motamed Dies at 74
Tom Motamed of AIG was a beloved industry veteran who left an everlasting mark with his peers, colleagues, and customers. He is survived by Christine his wife; sons Ben, Evan, and Nate (all AIG employees).
He began his career at The Chubb Corporation as a claims trainee in 1977, progressing through various positions until being named vice chairman and chief operating officer in 1999.
Early Life and Education
Tom was an admirable example of humility who tirelessly provided for his family and friends. He regularly hosted gatherings to bring family closer together while creating memorable experiences with those close to him. We will miss him dearly but know his memory will live on as inspiration to others.
Tom began his career as a claims trainee, eventually leading some of the largest insurers worldwide. His industry knowledge, judgment and commitment will remain an enduring legacy.
Adelphi University’s home field for men’s and women’s soccer, lacrosse, and hockey teams will now be known as Motamed Field to honor his generous support of Adelphi. A moment of silence will take place prior to Saturday’s men’s lacrosse game at 1 p.m. to commemorate Motamed.
On April 9th 2011, Adelphi University honored esteemed alumnus Thomas Firouz Motamed ’71 by dedicating Motamed Field-home of men’s soccer, lacrosse and lacrosse teams, women’s hockey and field team-to his lasting commitment and support of Adelphi University since graduation. This gift symbolized Thomas’ unfaltering loyalty.
Motamed was appointed Chairman and Chief Executive Officer of CNA Financial Corporation, an insurance holding company, in 2009 and retired two years later in 2016. Prior to CNA Financial Corporation, he spent 31 years at The Chubb Corporation where he advanced through claims trainee to Vice Chairman and then Chief Executive Officer. Motamed also held positions with Nasdaq-listed Verisk Analytics from 2009-16 as well as Palmer & Cay insurance agency between 2000-5 as Director; additionally he is past Chairman of Insurance Information Institute.
Achievement and Honors
Motamed was an esteemed member of Adelphi University’s men’s varsity lacrosse team, earning himself the distinction of “Most Valuable Player.” Post graduation, Motamed continued his involvement within the community by serving on its Board of Trustees from 2004 until his retirement in 2016, including serving as chair. Additionally, he was honored to become one of Adelphi’s Million Dollar Round Table charter members and steering committee member for its $56 Million comprehensive campaign steering committee; In 2011, an outdoor sports complex which houses men’s and women’s soccer, lacrosse and field hockey teams was dedicated in his honor in recognition of Thomas Motamed’s dedication and support to Adelphi University.
Motamed also holds board membership at CNA Financial Corporation and American International Group (AIG), serving on both their Risk & Capital Committees as well as Compensation & Management Resources Committees.
Thomas Motamed passed away due to brain cancer on Tuesday at age 74. As a leader in the insurance industry, beginning as a claims trainee and ultimately heading some of the largest insurers worldwide; Thomas made an impressionful mark with agents, brokers, clients and associates alike.
Since 2009, he served as Chairman and CEO of CNA Financial Corporation, as well as serving on the boards of Nasdaq-listed Verisk Analytics from 2009-2016 and Palmer & Cay insurance agency between 2000 and 2005. Additionally, he was past chairman of The Insurance Information Institute as well as chair emeritus at Adelphi University.
Beloved husband, father and grandfather; he will be sorely missed. Survivors include Christine; Meredith Rymer with husband Tim (their three sons are Ben, Evan and Nate); daughter Kate Miles with Quinton Miles and Jackson as her children; as well as Deacon the beloved Labrador Retriever.
Thomas Motamed’s estimated net worth exceeds $25 Million. He serves on both American International Group’s Risk & Capital Committee as well as Compensation & Management Resources Committee boards, in addition to being a trustee and chair emeritus at Adelphi University.
Joining CNA in 2009 following a 31-year tenure at The Chubb Corporation where he rose to become vice chairman and chief operating officer, as well as serving on its boards from 2009-16 and Palmer & Cay insurance agency from 2000-5, Mr. Corcoran has an outstanding track record as both an educator and leader.
Motamed was often asked for his insight on financial news programs. While he refrained from playing an authoritative role as a crystal ball gazer, Motamed nonetheless provided valuable advice and offered up some insights.