American International Group, Inc. (AIG) has announced that David McElroy has been promoted to Chief Executive Officer (CEO), General Insurance, and Executive Vice President (EVP), AIG, effective immediately.
Prior to his promotion, McElroy served as President and CEO of the North American operations of the insurer and reinsurer’s General Insurance division.
In his new role, he will lead the General Insurance Executive Leadership team and will also join the AIG Executive Leadership team, reporting to Peter Zaffino, President and Global Chief Operating Officer (COO) of AIG.
“Dave has played an instrumental role in the turnaround of our General Insurance business and the positioning of AIG as a market leader. I am pleased to announce this well-deserved promotion and look forward to continuing to work closely with Dave and our world-class General Insurance leadership team as we continue to build momentum and deliver on our strategy to achieve underwriting excellence and profitable growth,” said Zaffino.
McElroy joined the company as President and CEO of Lexington Insurance Company in October of 2018, and was later appointed President and CEO of North America, General Insurance in June of last year. Prior to AIG, he held a number of leadership roles within the insurance sector, including Executive Chairman of Arch Insurance Group and Vice Chairman of Arch Worldwide Insurance Group.
Commenting on his new role, McElroy said: “I am proud to lead our global colleagues in General Insurance and build on our strong foundation. We remain laser focused on underwriting discipline and operational excellence, which allow us to solve complex risk issues and deliver value to our clients, distribution partners and other stakeholders.”
Brian Duperreault, AIG’s CEO, added: “We are fortunate to have a deep bench of industry veterans at AIG and I know that with Dave at the helm, General Insurance will continue to be in excellent hands. I want to congratulate Dave and thank Peter for his tremendous contributions to the turnaround of General Insurance. I know that Peter will continue to apply the same level of discipline and rigor as he has in General Insurance and with AIG 200 as he pivots more fully to his enterprise-wide role as President and Global Chief Operating Officer of AIG.”