AIG recruits CEO for Lexington from Arch

American International Group Inc. late Wednesday named former Arch Capital Group Ltd. executive David H. McElroy as CEO of its excess and surplus lines unit Lexington Insurance Co.

He replaces George Stratts, who left Lexington earlier this year.

The move is the latest in a series of senior management changes at AIG made since Brian Duperreault rejoined the insurer as CEO last May.

Mr. McElroy will join Lexington “at a date to be determined,” an AIG statement said. He will report to Peter Zaffino, CEO general insurance at AIG and serve as a member of the general insurance executive leadership team, the statement said.

In addition to Lexington, he will head the general insurance division’s program business, AIG said.

Most recently, Mr. McElroy was executive chairman of Arch Insurance Group and vice chairman of Arch Worldwide Insurance Group, insurance units of Hamilton, Bermuda-based Arch.

Prior to joining Arch, he was an executive at the Hartford Financial Services Group Inc. and was at the center of a poaching dispute between the two insurers after he joined Arch in 2009.