Hamilton Insurance Group’s U.S. division is bringing on another former AIG executive to fill a major slot, its second major hire in two weeks.
Michael Garceau will be the new chief operating officer of Hamilton USA, he’ll report to CEO Seraina (Maag) Macia, herself an AIG veteran whose hiring Hamilton announced earlier in October.
Macia said Garceau is colleague she knows well.
“Having worked with him in the past, I know first-hand the significant strengths, both strategic and tactical, that he brings to his new position,” Macia said in prepared remarks. “As we identify the many opportunities represented by the $500 million U.S. [P/C] market, [Garceau] will play a key role in ensuring the decisions we make are executed in a sound and sustainable manner.”
Garceau, a 25-year insurance industry veteran, takes on his new position on Oct. 17 and will handle the Hamilton USA platform’s operations, IT and finance functions.
Garceau was most recently American International Group’s chief operating officer of the Europe, Middle East and Africa Region. Before that, he was with XL Group from 2010 to 2015, most recently as chief financial officer, Global Insurance, where he handled tasks including strategic planning and analysis, quarterly results, budgeting, reforecasting, expense management and financial reporting for XL Group’s Global Insurance segment. He held other positions at XL Group, and is also a veteran of Zurich North America and Chubb Ltd.
Macia, before joining Hamilton USA, was CEO and executive vice president of Regional Management & Operations at AIG, and was a member of AIG’s executive leadership team. She was also previously CEO of XL Insurance North America and president of Zurich North America’s Commercial Specialties business, among other executive slots.
Macia took over for Chief Strategy Officer and acting Hamilton USA CEO Bob Deutsch.
Deutsch began filling in about a year ago, when previous USA CEO Conan Ward resigned less than two years after taking on the job to develop Hamilton Insurance Group’s U.S. operations. Hamilton noted his resignation but gave no explanation for his departure.
Source: Hamilton Insurance Group