Insurer AIG reshuffles U.S. leadership as executive Don Bailey retires

(Reuters) -American International Group said on Friday that Don Bailey, its executive vice president and CEO for North America Commercial Insurance, will retire at year-end for health reasons, and announced leadership changes at its U.S. commercial unit. Bailey, a four-decade insurance veteran, joined AIG in 2023 as Global Head Of Distribution, Field Operations. AIG will adopt a new leadership structure effective January 1, elevating three executives in its North America commercial arm. Allison Cooper and Barbara Luck will become co-Presidents, Retail, while Lou Levinson will be named President, Wholesale. The new executives will report to John Neal, who will assume the role of President of AIG. In August, American International Group reported higher second-quarter profit, powered by strong underwriting gains and higher investments returns. (Reporting by Prakhar Srivastava in Bengaluru; Editing by Tasim Zahid)

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