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American International Group Inc. said Tuesday it has promoted David McElroy, president and CEO of its Lexington Insurance Co. unit, to the new position of president and CEO of the North America operations of general insurance.
Mr. McElroy, whose appointment is effective immediately, will continue to report to Peter Zaffino, CEO general insurance and global chief operating officer.
Mr. McElroy will continue to oversee Boston-based Lexington, as well as AIG risk management, financial lines, Validus Specialty, Western World, Glatfelter and programs, and will also oversee general insurance’s U.S., Bermuda and Canada underwriting and field operations.
Lou Levinson, who joined AIG as head of casualty for Lexington in September 2018, has been named Lexington president and CEO.
Mr. McElroy joined AIG in 2018. He was previously executive chairman of Arch Insurance Group and vice chairman of Arch Worldwide Insurance Group, insurance units of Hamilton, Bermuda-based Arch.
Before joining Arch, he was an executive at the Hartford Financial Services Group Inc. and the center of a poaching dispute between the two insurers after he joined Arch in 2009.
(Reuters) — American International Group Inc. reported a 44.1% surge in quarterly adjusted earnings on Monday, boosted by higher premiums, improved underwriting in its general insurance business and lower expenses.