He will receive the award during a virtual awards ceremony for the Business Insurance U.S. Insurance Awards on Sept. 30.

During his nearly 50 years in the insurance sector, Mr. Duperreault transformed some of the biggest companies in the industry.

Beginning his career at AIG in 1973, he worked his way up to various executive positions with the insurer before he joined Bermuda-based Ace Ltd. as CEO in 1994. Through a series of acquisitions, he took Ace from a specialty liability insurer to a global multiline insurer before retiring in 2006.

Mr. Duperreault came out of retirement in 2008 to lead Marsh & McLennan Cos. Inc. as the company recovered from the broker investigations of the mid-2000s. After turning the brokerage around, Mr. Duperreault left in 2012.

In 2013, he returned to the insurance market but this time with a start-up – Bermuda-based Hamilton Insurance Group Ltd. After establishing Hamilton as an international insurer, including acquiring operations at Lloyd’s of London, Mr. Duperreault returned to AIG in 2017 to lead its turnaround. He gave up his executive role at the insurer earlier this year.

The Business Insurance Lifetime Achievement award recognizes individuals who have made an outstanding contribution to the risk management and insurance sector over the course of their careers. Recipients are selected by the editorial staff.

All recipients are entered into the Business Insurance Hall of Fame, sponsored by Crawford & Co. Past recipients include 2020, Kevin H. Kelley, retired vice chairman of Liberty Mutual Insurance Co.’s Global Risk Solutions business; 2019, Martin P. Hughes, executive chairman of Hub International Ltd.; 2018, Maurice R. Greenberg, chairman and CEO of C.V. Starr & Co. Inc.; and 2017, Patrick G. Ryan, chairman and CEO of Ryan Specialty Group LLC.