He succeeds Christopher Schaper, who was appointed chief risk officer last year.

Mr. Flatt, who is based in New York, will report to Peter Zaffino, the insurer’s chairman and CEO, and will join the executive leadership team.

Mr. Flatt joined AIG from Marsh & McLennan Cos. Inc., where he was a managing director, in 2017.

Erin Fry was promoted to head of AIG North America alternative channels, succeeding Mr. Flatt. Ms. Fry previously was president of Glatfelter Insurance Group and executive vice president of AIG commercial lines programs.

Ms. Fry will report to Don Bailey, executive vice president and CEO, North America Insurance.