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American International Group Inc. on Thursday named David McElroy CEO, general insurance, and an executive vice president of the insurer, taking over some of the responsibilities of Peter Zaffino, the insurer’s second most senior executive.
Mr. McElroy joined AIG from Arch Capital Group Ltd. in 2018 to head surplus lines unit Lexington Insurance Co. In June 2019, he was promoted to president and CEO of the North America operation of AIG’s general insurance division.
In his new position, he will head AIG’s core commercial property/casualty operations and its personal lines business.
The division was previously headed by Mr. Zaffino, who was brought into AIG by then-incoming CEO Brian Duperreault in 2017 to help lead turnaround efforts at the insurer.
Mr. Zaffino was named president of AIG in 2019.
In a statement Thursday, Mr. Duperreault said Mr. Zaffino will pivot “more fully to his enterprise-wide role as president and global chief operating officer of AIG.”
Peter Zaffino’s appointment to help run American International Group Inc. with Brian Duperreault gives Mr. Duperreault a familiar lieutenant in his campaign to rebuild the insurer, observers say.