Hartford and Travelers announce executive changes

One day before American International Group Inc. named Peter Hancock to be its next CEO, Hartford Financial Services Group Inc. said that Liam McGee, who is credited with turning around the insurer, would step down as president and CEO effective July 1, but will remain as executive chairman until next year.

Christopher J. Swift was promoted to CEO of Hartford from executive vice president and Douglas G. Elliot was promoted to president of the parent from president of commercial markets.

Also on June 10, Travelers Cos Inc. said in a statement that Bill Cunningham, who served as executive vice president of business insurance, “decided to leave the company to pursue other opportunities.”

“Bill has been a great asset to the organization and a big reason why business insurance is a market leader in the United States today,” Travelers Chairman and CEO Jay Fishman said in the statement.

“We would like to thank him for his many significant contributions over his nearly three decades at Travelers and wish him well in his new endeavors.”