AIG basic insurance coverage chair retiring

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 speed up his retirement date for private causes and can stay out there to the corporate,” AIG famous with out elaborating.

The departing chief took on the chairmanship, a brand new function, in January. He beforehand served as basic insurance coverage chief govt from August 2020 till the tip 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 turning into a member of the AIG govt management staff 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 govt of AIG, stated when the retirement was introduced.

“Due to the laborious work and dedication of our total staff, AIG is now well known as a number one international insurer by our purchasers, distribution companions, and lots of stakeholders.”

Final October, Zaffino had this to say about McElroy: “I’m grateful to Dave for his management and vital contributions over the previous 5 years, as we constructed out an industry-leading international staff and underwriting tradition.”

On the time, McElroy cited the “nice honor” to be part of what he thought-about AIG’s historic turnaround.

“By working in probably the most necessary components of our enterprise, centered on strengthening dealer and consumer relationships, I see our dedication to underwriting excellence and enhanced concentrate on 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 will probably be named.

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