American International Group (AIG) announced leadership appointments in its Commercial Insurance business, including a new chief underwriting officer and the newly-established roles of global head of Cyber, and presidents of Credit Lines and Portfolio Solutions.
Madhu Tadikonda, who had served as Commercial chief science officer, has assumed the role of Commercial chief underwriting officer. He succeeds Tim Carter, who has assumed the role of president, Portfolio Solutions. Tracie Grella has been named global head of Cyber and Donna DeMaio has been named president, Credit Lines.
The announcements were made by John Doyle, Commercial Insurance CEO.
Tadikonda, Carter and DeMaio report to Doyle. Grella reports to James Shea, president, Financial Lines.
In his new role, Tadikonda oversees chief underwriting officers in Commercial Insurance’s global product lines. He will define global underwriting standards. Drawing on his science background, he will also oversee deployment of underwriting tools that harness AIG’s data assets and capabilities.
Tadikonda joined AIG as senior vice president on the Science team in 2013. Prior to that, he was a partner at Oliver Wyman, where he led the corporate finance and advisory practice in North America, after 10 years in the venture capital industry.
Carter is responsible for portfolio insurance solutions for AIG’s Commercial Insurance clients, including small business, programs, assumed reinsurance and managing general agents.
Carter joined AIG as Commercial chief underwriting officer in 2011. Prior to that, he was chief underwriting officer for Zurich in North America and Europe, after serving in other senior underwriting roles for the company.
In her new position, Grella is responsible for the expansion of AIG’s full cyber risk insurance capabilities across AIG product lines. She will lead efforts to develop products and deliver expertise to help clients manage and mitigate this evolving risk.
Grella joined AIG in 1995, and has held several underwriting and management positions. Grella has served as global head of Professional Liability since 2011, leading the rapid growth of AIG’s cyber insurance business, global underwriting strategy, and implementation of global best practices. Prior to that, she served as president of Specialty Professional Liability.
As president of Credit Insurance, DeMaio has oversight of a newly-organized business line that includes AIG’s mortgage insurance business, United Guaranty Corp. (UGC), as well as political risk, trade credit, and surety.
DeMaio currently serves as CEO and president of UGC, responsibilities that she will maintain. Previously, she was chief operating officer of the company. Before joining UGC, DeMaio was president and CEO of MetLife Bank, having served as the bank’s chief financial officer. DeMaio was also a partner with PricewaterhouseCoopers.
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