American International Group Inc. announced that David H. McElroy will join the company as chief executive officer of Lexington Insurance Co. at a date to be determined.
McElroy will lead Lexington Insurance Co. and report to Peter Zaffino, chief executive officer, General Insurance. 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, AIG said in a statement.
McElroy also will oversee General Insurance’s program business in the U.S., 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.
McElroy replaces George Stratts, who served as CEO of Lexington Insurance Co. from November 2017 to June 2018. Prior to that, Jeremy Johnson served as president and CEO of Lexington Insurance Co. from February 2013 to December 2017, and as president, U.S. commercial from February 2016 to December 2017. Both Stratts and Johnson appear to have left AIG.
Over the course of his career, McElroy has held numerous leadership roles within the insurance industry, including recent positions as executive chairman of Arch Insurance Group Inc. and vice chairman of Arch Worldwide Insurance Group (since October 2017).
Previously, he served from September 2012 to September 2017 as chairman and chief executive officer of Arch Worldwide Insurance Group, an executive position of Arch Capital Group, Ltd. (ACGL). He served as chairman and CEO of Arch Insurance Group from July 2012 to September 2017.
He joined Arch Insurance Group in 2009 as the president of the Financial and Professional Liability Group, which is comprised of the executive assurance, professional liability, surety and healthcare lines, according to his biography on the Arch Capital Group website.
Prior to joining Arch Insurance Group, McElroy held roles at The Hartford Financial Services Corp., Reliance National and Chubb, where he began his career. He is a graduate of Temple University with a B.A. in business administration.
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.”
Source: American International Group
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