Martin Sullivan to Be Chairman of Navigators Lloyd's Unit

Martin Sullivan , the former chief executive officer of American International Group Inc. , was named to the board of the Lloyd's of London subsidiary at Navigators Group Inc. He will become chairman in the first quarter of next year, pending regulatory approval, and replace Alec Foster who will relinquish the role he has had since 2010, Stamford, Connecticut-based Navigators said today in a statement. Sullivan rose to be CEO of New York-based AIG, then the world's largest insurer, in 2005 and was ousted in 2008 after underestimating the company's risk on mortgage-related investments.

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