A veteran Marsh executive is joining American International Group as head of Retail Property within its North America General Insurance division.
Duncan Ellis is slated to take on his new AIG role in late September. At Marsh, he most recently served as managing director for its U.S. Property practice, managing 300 brokers serving more than 3,500 clients. Ellis served as the senior executive for Marsh’s Property practice in the U.S. for a decade, overseeing a portfolio that encompassed large global risk management clients and middle market accounts, AIG noted.
Ellis represents a good get for the insurer, according to David McElroy, president and CEO of AIG North America General Insurance.
Ellis’ “recognized industry leadership and technical expertise in commercial property insurance ideally qualify him to lead our Property business moving forward,” McElroy said in prepared remarks.
In his new position, Ellis will lead AIG General Insurance’s North American Retail Property business and focus on diversifying the company’s Property portfolio. He’ll also implement consistent underwriting practices in the U.S., Bermuda and Canada aligned with AIG‘s overall risk appetite, AIG said. Ellis will be based in New York and report to Ken Riegler, president of North America General Insurance, Product & Field Management.
Ellis began his insurance career as a property and casualty underwriter for The Chubb Group of Insurance Companies before joining Marsh in 1992.
Even as AIG brought in a new executive, it recently lost Jonathan Ritz, who was CEO of Validus’ U.S. operations (AIG acquired Validus last year). Ritz joined Aspen Insurance Holdings Ltd. as its new president.