AIG is in talks to sell its mortgage insurer United Guaranty to Arch Capital for ~$3.4 billion.
AIG has agreed to maintain a 9.9% ownership stake in Corebridge for two years after the closing.
McElroy joined AIG in 2018 as President and CEO of Lexington Insurance Company.
Dellwood launched last month.
The insurer announced plans to buy AIG’s UK life insurance business for $563 million last year.