American International Group (AIG) has announced the appointments of Mark D. Lyons as Executive Vice President & Chief Financial Officer (CFO) and Sachin N Shah as Chief Executive Officer of Asia Pacific, AIG General Insurance.
Lyons, who succeeds Sid Sankaran, will serve on the AIG Executive Leadership Team and will report directly to Brian Duperreault, President and CEO of AIG. He will remain Chief Actuary, General Insurance, until a successor is named.
Sankaran will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.
“Since his arrival at AIG, Mark has made an immediate and positive impact on our company,” stated 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,” Duperreault continued.
“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.”
Commenting on his appointment, Lyons said, “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.”
Shah’s appointment to the Singapore-based role of CEO Asia Pacific, AIG General Insurance is effective end of December 2018.
Most recently, Shah served as Chairman, President and CEO of MetLife Japan, a position he held since 2013.
He will report to Christopher Townsend, CEO of AIG General Insurance International.
In making the appointment, Townsend commented, “I am pleased to welcome Sachin Shah to AIG as CEO of our Asia Pacific business. I look forward to working closely with Sachin to deliver innovation and value to our customers and distribution partners in this dynamic region.”
Shah added, “I’m delighted to be joining AIG and the International General Insurance management team at this exciting time in the Asia Pacific region. I look forward to working with AIG colleagues across the region to deliver on our growth ambitions in these fast-moving economies.”
