Kevin H. Kelley has left his post as chief executive officer of American International Group's Lexington Insurance Company and president of AIG Domestic Personal Lines to become CEO of Ironshore Inc., it was announced today.
Financially-troubled AIG--which has been arguing that it needs to pay hefty retention bonuses to keep staff in place while it struggles to remain liquid--said Peter Eastwood had been promoted from executive vice president to CEO of Lexington.
After a reorganization in April, AIG created a Property Casualty Group, with AIG Executive Vice President Kristian P. Moor as president and CEO. At that point, Mr. Kelley--in addition to being Lexington's chairman and CEO--was appointed executive vice president of AIG Property Casualty Group and president of AIG Domestic Personal Lines, reporting to Mr. Moor. Mr. Kelley resigned his posts yesterday.
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