American International Group Inc. announced senior leadership changes in its Commercial Insurance business, naming Michael Smith as chief operating officer (COO). Also, James Shea has been appointed president of Global Financial Lines, and Robert Thomas has been named president of Global Specialty Lines.
All three executives will report to John Q. Doyle, CEO of Global Commercial Insurance.
As COO, Smith will be responsible for advancing Commercial Insurance’s long-range strategies and its customer-focused distribution strategy, according to the announcement. He will direct a team responsible for broker and client relationships; Global Risk Solutions, including multinational insurance strategy; and marketing strategy and innovation. Smith will also oversee operations and systems initiatives for Commercial Insurance worldwide.
Smith most recently served as president of Global Financial Lines for AIG. Prior to that, he was president of Executive Liability. Smith has global experience in underwriting and claims management.
Shea, currently president of Global Specialty Lines, will assume Smith’s responsibilities as the new president of Global Financial Lines. Shea began his career with National Union in New York and has held senior positions including managing director for AIG Property Casualty in the UK; regional president for AIG Property Casualty in the Central Europe and CIS Region; head of Financial Lines for AIU Insurance Co; and regional vice president, General Insurance in Japan. Shea has been based in various cities throughout his tenure with AIG, including London, New York, Singapore, Paris and Tokyo.
Thomas will succeed Shea as president of Global Specialty Lines and will oversee aerospace, environmental, marine, trade credit, political risk, surety, and programs insurance worldwide. Thomas moves to the role after serving as the Commercial Insurance COO since 2011. He was instrumental in setting Commercial Insurance on the right path to improve its business mix and build its strategy. He has also served as president of AIU Commercial Lines and held the position of executive vice president for AIU Corporate Accounts. He was regional president for the Southeast Asia/China Region and the Middle East, Mediterranean, and South Asia Region (MEMSA), as well as country head of AIA Life China.
Source: AIG
Was this article valuable?
Here are more articles you may enjoy.
California Sees Two More Property Insurers Withdraw From Market 
FBI Says Chinese Hackers Preparing to Attack US Infrastructure 
Wildfires Are Upending Some of the Safest Bets on Wall Street 
JPMorgan Client Who Lost $50 Million Fortune Faces Court Setback 
