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AIG makes commercial insurance executive changes

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American International Group Inc. has made several new appointments in its commercial insurance division.

Madhu Tadikonda, the insurer's former commercial chief science officer, will replace Tim Carter in the position of commercial chief underwriting officer, AIG said Thursday in a statement.

In his new role, New York-based Mr. Tadikonda oversees underwriting officers in commercial insurance's global product lines. Utilizing his science background, he will also oversee deployment of underwriting tools for AIG.

Mr. Carter will take the role of portfolio solutions president, Tracie Grella will take the role of global head of cyber and Donna DeMaio will take on the role of credit lines president. All three are newly created positions.

Mr. Carter, who is based in Chicago, will be responsible for portfolio insurance solutions for AIG's commercial insurance clients including small business, programs, assumed reinsurance, and managing general agents.

In her new position Ms. Grella, who was named a 2014 Woman to Watch by Business Insurance, will be responsible for AIG's cyber risk insurance across product lines. She is based in New York.

As president of credit insurance, Ms. DeMaio will oversee a new business line that includes AIG's mortgage insurance business, United Guaranty Corp., political risk, trade credit and surety.