American International Group (AIG) on Oct. 11 announced three significant appointments within its executive leadership team.
David McElroy, currently chief executive officer of General Insurance, will assume a newly created role of chairman, General Insurance. AIG said McElroy will focus on advancing client development, building distribution partner relationships, and continuing to support the company’s focus on underwriting excellence.
“I am grateful to Dave for his leadership and significant contributions over the past five years, as we built out an industry-leading global team and underwriting culture,” said Peter Zaffino, AIG chairman and CEO. “I am confident that over the next few years, he will continue to drive significant value for our stakeholders in this new role, which will leverage his deep industry expertise, his exceptional underwriting experience, and his significant capabilities in the market.”
McElroy joined AIG as president and CEO of surplus lines writer Lexington Insurance in October 2018 and was promoted to president and CEO of North America, General Insurance in June 2019. In August 2020 he was promoted to CEO of General Insurance.
Don Bailey, now the global head of distribution and field operations, will become the CEO of North America Insurance.
Current International General Insurance CEO Jon Hancock moves to the role of CEO of International Insurance.
“Don and Jon’s appointments align with our plans to create a leaner operating model, while remaining extremely focused on advancing our underwriting performance, continuing to enhance our operational excellence, and achieving double-digit returns,” Zaffino said. “These changes reflect the significant progress we have made over the last several years and will accelerate the implementation of our business strategy going forward.”
Bailey and Hancock will lead the underwriting, distribution and the business teams in North America and International, respectively, AIG said.
Bailey just joined AIG at the start of 2023 from Bristlecone Partners, a growth and human capital consultancy firm. AIG hired Hancock, who had been director of performance management at Lloyd’s, in February 2020.
All changes take effect at the start of 2024. McElroy, Bailey, Hancock will report to Peter Zaffino, AIG chairman and CEO, and each will serve on AIG’s Executive Leadership Team.
Topics Profit Loss Leadership AIG
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