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American International Group Inc. (AIG) reorganized Chartis, its global property/casualty business, and named a new management team. Among the changes was a new CEO, Peter D. Hancock, currently AIG executive vice president for Finance, Risk and Investments.

Prior to joining AIG in February 2010, Hancock served as vice chairman for KeyCorp. Before that, he served for 20 years at J.P. Morgan, where he ran the Global Fixed Income Business and Global Credit Portfolio, and also served as the firm’s chief financial officer and chairman of its Risk Management Committee.

As CEO of Chartis, Hancock succeeds Kristian P. Moor, who was named vice chairman of Chartis, reporting to Hancock. Moor has been CEO of Chartis since 2009, when AIG gave the property/casualty division its own brand name and set it up to independently operate. He has been with AIG for more than 30 years.

Under the new structure, Chartis will now consist of two major global groups — commercial and consumer — with the supporting claims, actuarial and underwriting disciplines integrated into these two major business operations. John Q. Doyle, previously CEO of Chartis U.S., will run the global commercial business as CEO of Chartis Global Commercial Business. And Jeffrey L. Hayman, currently Chartis’ senior vice president and chief administrative officer, was appointed CEO of Global Consumer Business. Doyle and Hayman will be responsible for their groups’ overall underwriting and business results and will report to CEO Hancock.

Also as part of the management realignment, Nicholas C. Walsh, previously president and CEO of Chartis International, is vice chairman, chief distribution officer, reporting to Hancock. The global distribution organization will support the commercial and consumer groups by focusing on clients’ needs and working with underwriting and claims to deliver global and local insurance solutions to them.

Chartis will include four principal regions: Peter J. Eastwood, currently president of Lexington Insurance Co., and now also president and CEO of Chartis U.S.; Alexander R. Baugh, president and CEO of Chartis Europe Holdings Ltd.; Jose A. Hernandez, president and CEO of Far East Holdings K.K.; and Julio A. Portalatin, president and CEO of Growth Economies (formerly Emerging Markets).

Hancock’s current direct reports — David Herzog, CFO; William Dooley, head of investments; and Sid Sankaran, head of enterprise risk management — will now report to AIG President and CEO Robert H. Benmosche. Paulette Mullings Bradnock, head of internal audit, will report to Michael Cowan, AIG chief administrative officer. She also has a direct reporting line to Christopher Lynch, chairman of the Audit Committee of the AIG board of directors. Eric Martinez, CEO of UGC, will continue to report to Hancock.

The Hartford named Douglas G. Elliot president of its commercial markets division.

Elliot is currently president and CEO of Hartford Steam Boiler, a subsidiary of Munich Re, and president of Specialty Insurance. Previously, he was senior adviser with Aspen Insurance Holdings, a global reinsurer and specialty line insurer.

He began his career in the public accounting field before joining Travelers in 1987 — ultimately serving as CEO of general commercial and personal lines for St. Paul Travelers Cos., following the merger of those companies.

Florida-based homeowners insurance provider, Security First Insurance Co., appointed Werner E. Kruck chief operating officer and Marilyn Reynolds vice president of operations.

Kruck began his insurance career in 1975. He joined Security First in 2008.

Reynolds began her insurance career in 1996. Security First started in April 2005, with Reynolds joining one year later as director of operations

Medical professional liability insurance carrier, Austin, Texas-based Medicus Insurance named James O’Hare claims director. Prior to joining Medicus, O’Hare was vice president of Claims for Physicians Insurance Co. He has 26 years of experience in the medical professional liability field and has personally investigated, assessed and disposed of thousands of medical professional liability claims. He also monitored more than 75 trials to conclusion.

Marrs Maddocks and Associates Inc.’s Dick Marrs announced that his company has been named the Carlsbad Chamber of Commerce Medium Business of the Year. The Carlsbad Chamber is California’s 10th largest Chamber with more than 1,600 members, and chose Marrs Maddocks out of a field of nearly 200.

Marrs Maddocks & Associates Insurance Services Inc. is an independent insurance agency celebrating 20 years in business this year. It offers a range of insurance products for both business and personal coverage, from employee benefits and commercial property and liability to individual home, auto and life policies.

Professional Program Insurance Brokerage in Novato Calif., added Lisa Martone to its underwriting staff. Martone will be a senior underwriter to grow program business. Martone started her insurance career working for an independent agency. In the ’90s Martone moved into commercial underwriting in the wholesale excess and surplus lines business.

Topics Underwriting AIG