American International Group appointed the former CEO of Validus Re to a leadership role within its General Insurance unit.
Ken Driscoll was named Global Chief Underwriting Officer for Property and Agriculture, General Insurance. Driscoll most recently served as CEO of Validus Re and was a founding member of its parent, Validus Holdings, which AIG acquired for $5.6 billion in July 2018.
Along with Driscoll, Alexander Baugh has been appointed Global Chief Underwriting Officer for Casualty and Financial Lines, General Insurance. Baugh is a 35-year AIG veteran, and most recently served as President and CEO of North America General Insurance.
AIG said that Driscoll and Baugh will work with the General Insurance unit’s global underwriting organization and regional business teams to align underwriting with AIG’s overall risk appetite. They’ll also interact with clients and distribution partners on profitable growth opportunities.
Both executives will report to Tom Bolt, Global Chief Underwriting Officer, AIG General Insurance, and will continue to serve on the General Insurance Executive Leadership Team.
In a related executive move, Jeff Clements has been named Chief Executive Officer of Validus Re, effective immediately. Clements was previously Chief Underwriting Officer of Validus Re.
The new executive changes follow AIG’s announcement on June 5 that it promoted David McElroy to be the new president and CEO of its North America General Insurance Operations. Previously, McElroy was also at AIG, as Lexington’s Head of Casualty.