AIG Announces New Commercial Chief Underwriting Officer, Other Commercial Leadership Appointments

NEW YORK--(BUSINESS WIRE)--

American International Group, Inc. AIG today announced new leadership appointments in its Commercial Insurance business, including Commercial Chief Underwriting Officer, as well as the newly established roles of Global Head of Cyber, and Presidents of Credit Lines and Portfolio Solutions.

• Madhu Tadikonda, who had served as Commercial Chief Science Officer, has assumed the role of Commercial Chief Underwriting Officer
• Mr. Tadikonda succeeds Tim Carter, who has assumed the role of President, Portfolio Solutions
• Tracie Grella has been named Global Head of Cyber
• Donna DeMaio has been named President, Credit Lines

"Madhu brings new thinking and a fresh science-based perspective to our underwriting efforts, while Tim, Donna and Tracie are seasoned executives with deep experience in underwriting and leading global businesses," said John Doyle, Commercial Insurance CEO. "They all understand that the closer AIG is to its clients, the greater value we bring to them as an insurer and strategic partner."

Madhu Tadikonda

In his new role, Mr. Tadikonda oversees chief underwriting officers in Commercial Insurance's global product lines and ensures that AIG is focused on driving well-coordinated underwriting solutions across the business. He will define global underwriting standards. Drawing on his science background, he will also oversee deployment of underwriting tools that harness AIG's substantial data assets and capabilities.

Mr. Tadikonda joined AIG as Senior Vice President on the Science team in 2013. Prior to that, he was a partner at Oliver Wyman, where he led the Corporate Finance & Advisory practice in North America, after 10 years in the venture capital industry. Mr. Tadikonda holds a Bachelor of Arts degree from Princeton and an MBA from Stanford University.

Tim Carter

Mr. Carter is responsible for portfolio insurance solutions for AIG's Commercial Insurance clients, including small business, programs, assumed reinsurance, and managing general agents. His focus is to bring together AIG's deep product expertise to deliver compelling solutions for these important client segments.

Mr. Carter joined AIG as Commercial Chief Underwriting Officer in 2011. Prior to that, he was Chief Underwriting Officer for Zurich in North America and Europe, after serving in other senior underwriting roles for the company. Mr. Carter holds a Bachelor's Degree in Mathematics from the University of Nottingham and is a Fellow of the Institute of the Actuaries.

Tracie Grella

In her new position, Ms. Grella is responsible for the expansion of AIG's full cyber risk insurance capabilities across AIG product lines. She will lead efforts to innovate solutions and deliver expertise to help clients manage and mitigate this evolving risk.

Ms. Grella has served as Global Head of Professional Liability since 2011, leading the rapid growth of AIG's cyber insurance business, global underwriting strategy, and implementation of global best practices. Prior to that, she served as President of Specialty Professional Liability.

Ms. Grella is often featured in insurance trade and mainstream media outlets as an industry expert on cyber liability and professional liability issues. She was named a "2015 Insurance Executive to Watch" by Risk & Insurance and a "2014 Woman to Watch" by Business Insurance. Ms. Grella joined AIG in 1995, and has held several underwriting and management positions. She earned a Bachelor of Science degree in Finance from Rutgers University.

Donna DeMaio

As President of Credit Insurance, Ms. DeMaio has oversight of a newly organized business line that includes AIG's mortgage insurance business, United Guaranty Corporation (UGC), as well as political risk, trade credit, and surety. She is uniquely qualified to lead AIG's credit business based on her banking background and mortgage expertise.

Ms. DeMaio currently serves as CEO and President of UGC, responsibilities that she will maintain. Previously, she was Chief Operating Officer of the company. Before joining UGC, Ms. DeMaio was President and CEO of MetLife Bank, having served as the bank's Chief Financial Officer. Ms. DeMaio was also a partner with PricewaterhouseCoopers. She has been named one of the "Top 25 Women in Banking" by American Banker (formerly U.S. Banker) several times over the past seven years.

Ms. DeMaio is a CPA and holds a Bachelor of Arts degree from Muhlenberg College, with a double major in Accounting and Business.

Mr. Tadikonda, Mr. Carter, and Ms. DeMaio report to Mr. Doyle. Ms. Grella continues to report to James Shea, President, Financial Lines.

American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

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