Reinsurance News

AIG makes leadership changes amid departure of Mark Lyons

31st January 2023 - Author: Luke Gallin

Global insurer and reinsurer, American International Group (AIG), has terminated Mark Lyons from his role as Interim Chief Financial Officer (CFO) and Executive Vice President, Global Chief Actuary and Head of Portfolio Management, after he violated his confidentiality/non-disclosure obligations to the firm.

AIG states that these violations were unrelated to its financial statements, financial reporting generally, and related disclosure controls and procedures, or reserves.

Lyons joined the firm in 2018, and in recognition of his contributions to AIG over this time, the company has entered into a settlement agreement with him.

As a result, Sabra Purtill has been named AIG’s Interim CFO and Turab Hussain has been named as Interim Global Chief Actuary.

Purtill previously served as Chief Investment Officer of Corebridge Financial, having also served as AIG’s Executive Vice President and Chief Risk Officer, and Deputy Chief Financial Officer. Prior to AIG, Purtill held senior leadership roles in Finance and Investor Relations at The Hartford Financial Services Group, Inc., Assured Guaranty Ltd., and ACE Limited (now Chubb Limited).

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Hussain previously served as AIG’s Chief Risk Officer, General Insurance. Before joining AIG, he wa Chief Risk and Actuarial Officer at PartnerRe, Chief Insurance Risk Officer at The Hartford Financial Services Group and also held senior actuarial and underwriting roles at The Hartford, Arch Insurance Group and American Reinsurance.

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