American International Group Inc. on Tuesday said it has named Lex Baugh CEO of North America general insurance, effective immediately, and George Stratts as CEO of Lexington Insurance Co., replacing the unit’s previous chief, Jeremy Johnson.
The announcements come a few days after AIG President and CEO Brian Duperreault signaled that the insurer would be making more management and organizational changes, including repositioning Lexington as a standalone entity.
In his newly created role, New York-based Mr. Baugh will oversee AIG’s U.S. and Canada general insurance business and will report to Peter Zaffino, CEO of general insurance. Mr. Baugh will also be a member of the general insurance executive leadership team, the statement said.
He most recently served as president of liability and financial lines at AIG, overseeing the largest part of the global commercial portfolio and, prior to that, was president of global casualty at AIG.
“I look forward to working with Lex and Chris Townsend, who we recently appointed as CEO of international general insurance, to transform our business globally into a profitable and growing organization, aligned with the market and with the needs and expectations of our clients and distribution partners,” Mr. Zaffino said in the statement.
As CEO of excess and surplus lines underwriter Lexington, New York-based Mr. Stratts will report to Mr. Baugh and also serve on the general insurance executive leadership team, according to the statement.
Lexington is the largest surplus lines insurer with $3.01 billion in 2016 nonadmitted direct premiums, according to Business Insurance’s latest ranking.
A spokeswoman for AIG said that as a result of the organizational changes, Mr. Johnson, Lexington’s previous CEO, will be leaving the organization at the end of November to pursue other interests.
Mr. Stratts was most recently global president of AIG’s property and special risks division and, prior to that, executive vice president of Lexington.
“George’s deep expertise in the E&S market and proven leadership in property insurance represents the commitment we’re making to dedicate our best resources to this strategically important business,” Mr. Zaffino said in the statement.