HARTFORD, Conn.—Travelers Cos. Inc. said Tuesday that William E. Cunningham has been promoted to executive vp of its business insurance segment effective March 1.

Mr. Cunningham succeeds John J. Albano, who decided to take a part-time role at Travelers to pursue outside interests. He will serve in an advisory capacity to the leadership of the insurer's international business segment, Travelers said in a statement.

Mr. Albano joined Hartford, Conn.-based Travelers in 1971 in commercial lines marketing and underwriting.

Mr. Cunningham, who also is a member of the company's management committee, began his career with Travelers in 1987 in commercial accounts. Most recently, he was CEO of the segment. Mr. Cunningham also has held leadership roles with Travelers construction and national accounts businesses.