AIG has reorganized its New York-based P&C unit, Chartis, promoting Peter Hancock to CEO and naming Kristian Moor vice chairman reporting to Hancock.
Hancock had been EVP of finance, risk and investments for the carrier, while Moor had been CEO. Under the new structure, Chartis will now consist of two major global groups – commercial and consumer – with the supporting claims, actuarial, and underwriting disciplines integrated into these two major business operations. John Doyle, previously CEO of Chartis U.S., will run the global commercial business; and Jeffrey Hayman, currently Chartis’ chief administrative officer, will lead the global consumer business.
Nicholas Walsh, previously president and CEO of Chartis International, will lead global distribution. Chartis will include four principal regions: U.S./Canada, led by Peter Eastwood, currently president of Lexington Insurance Company; Europe, led by Alexander Baugh; Far East, led by Jose Hernandez; and Growth Economies, led by Julio Portalatin. They will focus on executing commercial, consumer, and distribution strategies within their respective territories, as well as managing day-to-day operations, including regulatory, financial, and general business issues. Doyle, Hayman, Walsh, Eastwood, Baugh, Hernandez and Portalatin all report to Hancock as well.
The new structure is meant to clarify and strengthen accountability for underwriting, distribution, product development, risk management and claims, AIG president and CEO Robert Benmosche says in a statement.
“We believe this model – which aligns accountability for the business we write today with the long-term performance of that business – will drive the creation of even better products and services for our clients while delivering the performance that our clients and the investment community expect of us," he adds.