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He's playing a leading role in the company's initiative to globalize its products and upgrade its engineering and IT systems in an attempt to fit a global footprint.

With that kind of job portfolio and working for the world's largest property/casualty company, Stratts is a man to watch.

AIG called on Stratts because of his experience in building diverse commercial property teams on a global scale, and because of his depth of technical expertise in property insurance in regulated and nonregulated markets.

Stratts, an AIG veteran having served in the company in many capacities, is a go-to executive for the company. Prior to 1999, he was president and CEO of AIG's Global Marine and Energy Division where he oversaw the global energy casualty, property, oil rig and global marine product lines.

For industry watchers, the question isn't whether Stratts and his division will do well. The question is where he will end up next, as it likely signals where AIG is in need of a tested veteran, or where the company thinks it can make big gains.