AIG Announces Business Leadership Appointments to Drive Next Phase of Profitable Growth
October 11 2023 - 3:15PM
Business Wire
David McElroy Appointed Chairman of General
Insurance Don Bailey Appointed CEO, North America Insurance Jon
Hancock Appointed CEO, International Insurance
American International Group (NYSE: AIG) is pleased to announce
that David McElroy, currently Chief Executive Officer, General
Insurance, will assume the newly created role of Chairman, General
Insurance; Don Bailey, currently Global Head of Distribution and
Field Operations, will assume the role of CEO, North America
Insurance; and Jon Hancock, currently Chief Executive Officer of
International General Insurance, will assume the role of CEO,
International Insurance, effective January 1, 2024. Mr. McElroy,
Mr. Bailey and Mr. Hancock will report to Peter Zaffino, Chairman
& Chief Executive Officer of AIG, and will serve on AIG’s
Executive Leadership Team.
In his new role, Mr. McElroy will focus on advancing client
development, building distribution partner relationships, and
continuing to support our focus on underwriting excellence.
Mr. Zaffino stated, “I am grateful to Dave for his leadership
and significant contributions over the past five years, as we built
out an industry-leading global team and underwriting culture. I am
confident that over the next few years, he will continue to drive
significant value for our stakeholders in this new role, which will
leverage his deep industry expertise, his exceptional underwriting
experience, and his significant capabilities in the market.”
Mr. McElroy said, “It has been a great honor to be a part of
AIG’s historic turnaround. By working in one of the most important
parts of our business, focused on strengthening broker and client
relationships, I see our commitment to underwriting excellence and
enhanced focus on our clients in action every day. I’m excited by
the opportunities ahead for us to continue to serve our clients,
distribution partners, investors, and colleagues, and to continue
to elevate our position in the industry.”
In their new roles, Mr. Bailey and Mr. Hancock will lead the
underwriting, distribution and the business teams in North America
and International, respectively.
Mr. Bailey brings three decades of insurance underwriting and
brokerage leadership experience to his new role and Mr. Hancock
brings three decades of vast insurance industry and global
operating experience to his new role.
Mr. Zaffino continued, “Don and Jon’s appointments align with
our plans to create a leaner operating model, while remaining
extremely focused on advancing our underwriting performance,
continuing to enhance our operational excellence, and achieving
double-digit returns. These changes reflect the significant
progress we have made over the last several years and will
accelerate the implementation of our business strategy going
forward.”
About AIG
American International Group, Inc. (AIG) is a leading global
insurance organization. AIG member companies provide insurance
solutions that help businesses and individuals in approximately 70
countries and jurisdictions protect their assets and manage risks.
For additional information, visit www.aig.com. AIG common stock is
listed on the New York Stock Exchange.
AIG is the marketing name for the worldwide operations of
American International Group, Inc. All products and services are
written or provided by subsidiaries or affiliates of American
International Group, Inc. Products or services may not be available
in all countries and jurisdictions, and coverage is subject to
underwriting requirements and actual policy language. Non-insurance
products and services may be provided by independent third parties.
Certain property casualty coverages may be provided by a surplus
lines insurer. Surplus lines insurers do not generally participate
in state guaranty funds, and insureds are therefore not protected
by such funds.
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version on businesswire.com: https://www.businesswire.com/news/home/20231011841348/en/
Quentin McMillan (Investors): quentin.mcmillan@aig.com Dana
Ripley (Media): dana.ripley@aig.com
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