AIG sees departure of general insurance chair in speeded retirement
US insurance giant AIG will see the departure of the former CEO of Lexington it had later placed as chairman of its general insurance division on a sudden and accelerated retirement, AIG said in a very brief statement.
David McElroy will retire from AIG and vacate his post as chairman of general insurance, effective May 1, 2024. McElroy has agreed with AIG to accelerate his retirement date for personal reasons, but remain available to the company.
McElroy had only been named chairman of general insurance as of January 1 this year after having joined AIG in 2018 as president and CEO of unit Lexington Insurance Company and later being appointed CEO of General Insurance from August 2020 to December 2023.
AIG group CEO Peter Zaffino commented: “David McElroy joined AIG at a pivotal time as we began the multi-year effort of improving our underwriting performance and refining our risk appetite. Thanks to the hard work and determination of our entire team, AIG is now widely recognized as a leading global insurer by our clients, distribution partners and many stakeholders.”
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