AIG names new CRO to lead corporate risk management strategy

American International Group (AIG) has appointed a new executive vice president and chief risk officer (CRO) responsible for overseeing its corporate risk management strategy.

Sabra Purtill (pictured), who has been serving as interim CRO for AIG since February 2021, has been appointed to the position on a permanent basis.

In her new role, Purtill will oversee AIG’s corporate risk management strategy on an enterprise-wide basis as the company strengthens its culture of underwriting excellence with an appropriate risk appetite while adjusting to a dynamically changing environment, including emerging climate, cyber and other fast-evolving risks. Based in New York, she will report to AIG president and chief executive officer Peter Zaffino, and will join its executive leadership team.

Prior to accepting this role, Purtill served as AIG’s deputy chief financial officer overseeing treasury, rating agency relations, investor relations and corporate development.

During her 30-year career, principally focused on the insurance industry, Purtill has held a wide range of executive roles at several companies. Prior to joining AIG in 2019, she was with The Hartford Financial Services Group, where she served as senior vice president, investor relations & treasurer. She was also managing director, investor relations & communications at Assured Guaranty, and prior to that was a corporate finance officer at ACE, now known as Chubb.

"Sabra has been a terrific contributor to AIG since she joined the company in 2019 and has a perspective with considerable breadth and depth in the insurance industry," said Zaffino. "I am confident she will continue to evolve our Enterprise Risk Management organisation so that it addresses all facets of risk.”

Zaffino added: “A strong risk culture is imperative as we build momentum on our journey to become a top performing company. Today, large global companies are facing different and more complex risks than ever before, and our risk capabilities and processes must be modernized, agile and adaptable to facilitate our long-term growth strategy."

Purtill commented: “I am privileged to step into this important executive role during this transformative time at AIG – and in the broader global environment – to help execute on a risk management framework that balances profitable growth with appropriate risk taking.”

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