AIG appoints Lyons as chief financial officer

American International Group (AIG) has appointed Mark Lyons as executive vice president and chief financial officer (CFO), succeeding Sid Sankaran.

Sankaran will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.

Lyons will remain chief actuary, general insurance, until a successor is named. He will also serve on the AIG executive leadership team, reporting to CEO Brian Duperreault.

Lyons joined AIG in 2018 from Arch Capital Group, where he served as executive vice president, CFO and Treasurer since 2012. He joined Arch in 2002 and served in various capacities within Arch Insurance US operations, eventually rising to chairman and CEO of Arch Worldwide Insurance Group. Prior to that, Lyons held various positions at Zurich US, Berkshire Hathaway and AIG.

“Since his arrival at AIG, Mark has made an immediate and positive impact on our company," said Duperreault. "With his proven track record as a public company CFO and his deep actuarial expertise, we are confident that he will further strengthen our financial processes and forecasting capabilities, as well as build on the progress we have made to restore AIG’s position as a growing, profitable leader in the insurance industry.”

“On behalf of the entire company and the board of directors, I’d like to thank Sid Sankaran for his significant contributions over the years. Sid was instrumental in helping AIG navigate many challenging issues over the last decade, and we are pleased he will work with Mark to make this transition seamless.” Duperreault added.

Lyons commented: “Since joining AIG this past summer, I have spent considerable time understanding the breadth and depth of our General Insurance business and continue to be highly optimistic regarding AIG’s strong path ahead. I look forward to working closely with Brian, the senior executive team and the Finance organization to further enhance our financial operations, including our planning and analysis capabilities.”

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