Three firm vets step into new roles
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 position of chairman of normal insurance coverage
- Don Bailey, presently world head of distribution and discipline operations, has been appointed as CEO for North America insurance coverage
- Jon Hancock, presently CEO of worldwide normal insurance coverage, will change 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 crew.
In his new position, McElroy shall be accountable for advancing consumer growth and constructing distribution companion relationships whereas supporting AIG’s give attention to underwriting excellence, the insurer said in a news release.
“I’m grateful to Dave for his management and vital contributions over the previous 5 years as we constructed out an industry-leading world crew and underwriting tradition,” Zaffino stated. “I’m assured that over the subsequent few years, he’ll proceed to drive vital worth for our stakeholders on this new position, which can leverage his deep {industry} experience, his distinctive underwriting expertise, and his vital capabilities out there.”
“It has been a terrific honor to be a part of AIG’s historic turnaround,” McElroy stated. “By working in one of the vital necessary components of our enterprise, centered on strengthening dealer and consumer relationships, I see our dedication to underwriting excellence and enhanced give attention to our purchasers in motion daily. 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 deliver three a long time 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 adjustments mirror the numerous progress we now have made over the past 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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