NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG) today announced that David H. McElroy will join the company as Chief Executive Officer of Lexington Insurance Company at a date to be determined.
Mr. McElroy will lead Lexington Insurance Company and report to Peter Zaffino, Chief Executive Officer, General Insurance. Mr. McElroy will serve as a member of the General Insurance Executive Leadership Team and will oversee all aspects of Lexington’s business, the largest Excess and Surplus (E&S) underwriter in the United States. General Insurance’s program business in the U.S. will also report to Mr. McElroy, which includes a range of niche markets written on both admitted and non-admitted bases supported by program administrators with market-leading infrastructure and underwriting expertise.
Mr. Zaffino said: “David is a recognized leader in the insurance industry with an outstanding track record for delivering underwriting profit. I look forward to working closely with David as we transform Lexington and General Insurance to be industry leaders for our clients and distribution partners.”
Mr. McElroy said: “I look forward to joining AIG General Insurance as CEO of Lexington and to working with Peter and his leadership team to restore Lexington to its industry leadership position in excess and surplus lines underwriting.”
Over the course of his career, Mr. McElroy has held numerous leadership roles within the insurance industry, including Executive Chairman of Arch Insurance Group Inc. and Vice Chairman of Arch Worldwide Insurance Group. Previously, he served as Chairman and Chief Executive Officer of Arch Worldwide Insurance Group, an executive position of Arch Capital Group, Ltd. (ACGL).
Earlier in his career, Mr. McElroy held roles at The Hartford Financial Services Corporation, Reliance National and Chubb. Mr. McElroy is a graduate of Temple University with a B.A. in business administration.
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
