AIG publicizes key management appointments

American Worldwide Group (AIG) has introduced three new management appointments.

• David McElroy, presently CEO of normal insurance coverage, has been appointed to the newly created position of chairman of normal insurance coverage
• Don Bailey, presently international head of distribution and discipline operations, has been appointed as CEO for North America insurance coverage
• Jon Hancock, presently CEO of worldwide normal insurance coverage, will change into CEO of worldwide insurance coverage, efficient Jan. 1

McElroy, Bailey and Hancock will report back to Peter Zaffino, chairman and CEO of AIG. They will even serve on the corporate’s govt management staff.

In his new position, McElroy might be liable for advancing consumer growth and constructing distribution accomplice relationships whereas supporting AIG’s deal with underwriting excellence, the insurer mentioned in a information launch.

“I’m grateful to Dave for his management and vital contributions over the previous 5 years as we constructed out an industry-leading international staff and underwriting tradition,” Zaffino mentioned. “I’m assured that over the following few years, he’ll proceed to drive vital worth for our stakeholders on this new position, which can leverage his deep {industry} experience, his distinctive underwriting expertise, and his vital capabilities available in the market.”

“It has been an ideal honor to be a part of AIG’s historic turnaround,” McElroy mentioned. “By working in probably the most vital elements of our enterprise, centered on strengthening dealer and consumer relationships, I see our dedication to underwriting excellence and enhanced deal with our purchasers in motion every single day. I’m excited by the alternatives forward for us to proceed to serve our purchasers, distribution companions, buyers, and colleagues, and to proceed to raise our place within the {industry}.”

Of their new roles, Bailey and Hancock will head up the underwriting, distribution and enterprise groups – Bailey in North America and Hancock internationally. Each carry three a long time of {industry} expertise to their roles.

“Don and Jon’s appointments align with our plans to create a leaner working mannequin whereas remaining extraordinarily centered on advancing our underwriting efficiency, persevering with to reinforce our operational excellence, and attaining double-digit returns,” Zaffino mentioned. “These adjustments mirror the numerous progress we have now made during the last a number of years and can speed up the implementation of our enterprise technique going ahead.”

Earlier this month, AIG introduced the appointment of Patricia Walsh as normal counsel. Final month, the corporate tapped Edward L. Dandridge as chief advertising and marketing and communications officer.

Have one thing to say about this story? Tell us within the feedback beneath.