AIG’s head of construction Tom Grandmaison will be leaving the insurer in December, The Insurance Insider understands.
Grandmaison is the executive vice president and construction industry practice leader at Lexington focusing on clients in the US and Canada region, including in admitted and non-admitted lines of business.
He joined Lexington in 2003 and has led the insurer’s energy and construction casualty business for four years.
Construction is among the specialty retail classes that will move from the admitted retail arm back to Lexington as the E&S rationalises its distribution lines to refocus itself toward the wholesale channel and re-underwrites its portfolio.
Broking sources told this publication that new business in core casualty classes will be sourced from wholesalers only as of the first quarter of 2019.
Lexington was previously geared towards wholesalers and E&S business, but over the years the lines have become blurred, and sources suggested that more than half of AIG’s admitted retail business in the US was being written by Lexington.
Grandmaison began his career at Aetna Life and Casualty and has worked in a variety of construction underwriting leadership roles at Travelers and Zurich.
AIG declined to comment.