Former CEO led the unit from 2020
David McElroy (pictured), chair of basic insurance coverage at American Worldwide Group (AIG), is retiring on Might 1.
“Mr McElroy has agreed with AIG to accelerate his retirement date for private causes and can stay obtainable to the corporate,” AIG famous with out elaborating.
The departing chief took on the chairmanship, a brand new position, in January. He beforehand served as basic insurance coverage chief government from August 2020 till the top of final yr.
When McElroy got here on board in 2018, he initially held the president and CEO positions at Lexington Insurance coverage Firm. Previous to changing into a member of the AIG government management workforce in 2020, McElroy served as president and CEO of North America basic insurance coverage.
“David McElroy joined AIG at a pivotal time as we started the multi-year effort of enhancing our underwriting efficiency and refining our danger urge for food,” Peter Zaffino, chair and chief government of AIG, stated when the retirement was introduced.
“Due to the exhausting work and willpower of our complete workforce, AIG is now widely known as a number one international insurer by our purchasers, distribution companions, and plenty of stakeholders.”
Final October, Zaffino had this to say about McElroy: “I’m grateful to Dave for his management and important contributions over the previous 5 years, as we constructed out an industry-leading international workforce and underwriting tradition.”
On the time, McElroy cited the “great honor” to be part of what he thought-about AIG’s historic turnaround.
“By working in one of the vital vital elements of our enterprise, targeted on strengthening dealer and shopper relationships, I see our dedication to underwriting excellence and enhanced give attention to our purchasers in motion on daily basis,” McElroy acknowledged in October 2023.
In the meantime, it’s unclear when McElroy’s successor as basic insurance coverage chair might be named.
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