AIG general insurance chairman retiring

AIG general insurance chairman retiring | Insurance Business Canada

Insurance News

AIG general insurance chairman retiring

Ex-chief executive led the unit from 2020

Insurance News

By
Terry Gangcuangco

David McElroy (pictured), chair of general insurance at American International Group (AIG), is retiring on May 1.

“Mr McElroy has agreed with AIG to accelerate his retirement date for personal reasons and will remain available to the company,” AIG noted without elaborating.

The departing leader took on the chairmanship, a new role, in January. He previously served as general insurance chief executive from August 2020 until the end of last year.

When McElroy came on board in 2018, he initially held the president and CEO positions at Lexington Insurance Company. Prior to becoming a member of the AIG executive leadership team in 2020, McElroy served as president and CEO of North America general insurance.

“David McElroy joined AIG at a pivotal time as we began the multi-year effort of improving our underwriting performance and refining our risk appetite,” Peter Zaffino, chair and chief executive of AIG, said when the retirement was announced.

“Thanks to the hard work and determination of our entire team, AIG is now widely recognized as a leading global insurer by our clients, distribution partners, and many stakeholders.”

Last October, Zaffino had this to say about McElroy: “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.”

At the time, McElroy cited the “great honour” to be a part of what he considered AIG’s historic turnaround.

“By working in one of the most important parts of our business, focussed on strengthening broker and client relationships, I see our commitment to underwriting excellence and enhanced focus on our clients in action every day,” McElroy stated in October 2023.

Meanwhile, it’s unclear when McElroy’s successor as general insurance chair will be named.

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