Insurance giant American International Group Inc., (AIG: Quote) said Wednesday that it has appointed company veteran Jim Dwane as the new president and chief executive officer for its property casualty business in Latin America and the Caribbean. The appointment is with immediate effect.

Dwane will hold overall responsibility for the insurance operations in the 15 countries in which AIG Property Casualty operates in Latin America and the Caribbean. He will be based in AIG’s regional offices in Miami and will report directly to Robert Schimek, President and CEO of AIG Property Casualty’s Americas Region.

Commenting on Dwane’s appointment, Schimek said, “Since I joined the Americas Region two months ago, my highest priority has been to refine our organizational structure in order to facilitate the achievement of our strategic objectives. Jim is a seasoned property casualty expert with deep product expertise whose appointment will bring the strong leadership needed to drive our multi-year goals for Latin America and the Caribbean.”

Dwane has worked at AIG for almost two decades. Most recently, he served as regional president of AIG Property Casualty’s Southeast Region of the U.S., which includes the states of North Carolina, South Carolina, Georgia, Tennessee, Mississippi, Alabama, and Florida.

AIG Property Casualty has operated in Latin America and the Caribbean since 1937. The company is optimistic about Latin America and the Caribbean and continues to see future opportunities to provide innovative insurance solutions for its expanding customer base.