AIG proclaims 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 function of chairman of normal insurance coverage
• Don Bailey, presently international head of distribution and area operations, has been appointed as CEO for North America insurance coverage
• Jon Hancock, presently CEO of worldwide normal insurance coverage, will develop 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 can even serve on the corporate’s govt management group.

In his new function, McElroy will likely be chargeable for advancing shopper improvement and constructing distribution companion relationships whereas supporting AIG’s give attention to underwriting excellence, the insurer stated in a information launch.

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

“It has been a fantastic honor to be a part of AIG’s historic turnaround,” McElroy stated. “By working in one of the essential components of our enterprise, centered on strengthening dealer and shopper relationships, I see our dedication to underwriting excellence and enhanced give attention to 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 many years 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 reaching double-digit returns,” Zaffino stated. “These modifications replicate the numerous progress we’ve 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 communications officer.

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