AIG declares key management appointments

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

• David McElroy, at the moment CEO of normal insurance coverage, has been appointed to the newly created function of chairman of normal insurance coverage
• Don Bailey, at the moment world head of distribution and subject operations, has been appointed as CEO for North America insurance coverage
• Jon Hancock, at the moment CEO of worldwide normal insurance coverage, will turn 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 may also serve on the corporate’s govt management workforce.

In his new function, McElroy shall be liable for advancing consumer improvement and constructing distribution associate 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 important contributions over the previous 5 years as we constructed out an industry-leading world workforce and underwriting tradition,” Zaffino mentioned. “I’m assured that over the following few years, he’ll proceed to drive important worth for our stakeholders on this new function, which can leverage his deep {industry} experience, his distinctive underwriting expertise, and his important capabilities available in the market.”

“It has been an excellent honor to be a part of AIG’s historic turnaround,” McElroy mentioned. “By working in probably the most necessary elements of our enterprise, targeted on strengthening dealer and consumer relationships, I see our dedication to underwriting excellence and enhanced deal with our shoppers in motion daily. I’m excited by the alternatives forward for us to proceed to serve our shoppers, distribution companions, traders, 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 convey 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 targeted on advancing our underwriting efficiency, persevering with to boost our operational excellence, and reaching double-digit returns,” Zaffino mentioned. “These adjustments replicate the numerous progress now we have 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.

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