AIG announces leadership changes

AIG announces leadership changes | Insurance Business Australia

Insurance News

AIG announces leadership changes

Company stalwarts take new roles

Insurance News

By
Ryan Smith

American International Group (AIG) has announced three new leadership appointments.

David McElroy, currently CEO of general insurance, has been appointed to the newly created role of chairman of general insurance
Don Bailey, currently global head of distribution and field operations, has been appointed as CEO for North America insurance
Jon Hancock, currently CEO of international general insurance, will become CEO of international insurance, effective Jan. 1

McElroy, Bailey and Hancock will report to Peter Zaffino, chairman and CEO of AIG. They will also serve on the company’s executive leadership team.

In his new role, McElroy will be responsible for advancing client development and building distribution partner relationships while supporting AIG’s focus on underwriting excellence, the insurer said in a news release.

“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,” Zaffino said. “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.”

“It has been a great honour to be part of AIG’s historic turnaround,” McElroy said. “By working in one of the most important parts of our business, focused on strengthening broker and client relationships, I see our commitment to underwriting excellence and enhanced focus on our clients in action every day. I’m excited by the opportunities ahead for us to continue to serve our clients, distribution partners, investors, and colleagues, and to continue to elevate our position in the industry.”

In their new roles, Bailey and Hancock will head up the underwriting, distribution and business teams – Bailey in North America and Hancock internationally. Both bring three decades of industry experience to their roles.

“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.”

Earlier this month, AIG announced the appointment of Patricia Walsh as general counsel. Last month, the company tapped Edward L. Dandridge as chief marketing and communications officer.

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