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Former AIG exec to head QBE's North American unit

Posted On: May. 3, 2016 12:00 AM CST

Former AIG exec to head QBE's North American unit

QBE North America said Monday that former AIG executive Russell Johnston will join the insurer on May 31 as CEO of North American Operations.

Mr. Johnston will succeed David Duclos, who is retiring as a fulltime executive, but will stay on as a non-executive director of QBE Emerging Markets and Equator Re, the internal reinsurance unit of parent QBE Group.

The Australian-owned insurer said Mr. Johnston, who will be based in New York, held a range of senior business and operational roles after joining AIG in 1990, including serving as president of AIG Casualty in the Americas from 2011 to November 2015.

A QBE spokesperson said Mr. Johnston left AIG last year. Mr. Johnston and Mr. Duclos were traveling and unavailable for comment, the spokeswoman said.

“I am delighted to welcome Russ to QBE,” Group CEO John Neal, said in a statement, “bringing his depth of industry experience at some of the most global insurers to build on the firm foundations established by Dave."

Mr. Duclos was appointed CEO of QBE's North American Operations in April 2013, after the unit posted disappointing results. Prior to joining QBE, he held various management positions at XL, most notably as chief executive of insurance, where he was responsible for all global insurance operations.

“Since joining QBE in 2013,” Mr. Neal said, “Dave has done a remarkable job of transforming and refocusing QBE's North American business, posting three consecutive years of performance improvement. Our business is now built on a sound platform for profitable growth as a specialist insurer and reinsurer.”