AIG announces Don Bailey’s retirement, promotes execs

American International Group announced Friday that Don Bailey would retire as CEO of North America commercial insurance at year-end and promoted three executives as it changed the leadership structure for the division.

Mr. Bailey, who joined AIG in 2023, “will step down at year-end to focus on his health,” the insurer said. Prior to AIG he held senior roles at Marsh and Willis Towers Watson.

The company will implement a new leadership structure effective Jan. 1, with Allison Cooper and Barbara Luck as co-presidents for retail, North America commercial, and Lou Levinson as president, wholesale, North America commercial.

Currently, Ms. Cooper is head of North America financial lines, Ms. Luck is head of North America casualty, general insurance, and Mr. Levinson is president and CEO of Lexington Insurance, AIG’s main excess and surplus lines division.