Arch CFO Mark Lyons has been appointed senior vice president and chief actuary of general insurance at AIG.

Effective 1 June, Lyons will lead the general insurance global actuarial organisation and report to Peter Zaffino, AIG’s CEO of general insurance. He will also serve as a member of the general insurance executive leadership team.

In this role, he will oversee actuarial strategy and provide input into key general insurance strategic decisions, as well as pricing and reserving practices.

Lyons will rejoin AIG after nearly 33 years. He will move over from Arch, where he has served as executive vice president, CFO and treasurer since 2012. He joined the Bermudian (re)insurer in 2002 and served in various capacities within Arch Insurance US operations, eventually rising to chairman and CEO Arch Worldwide Insurance Group.

Prior to that, Lyons held various positions at Zurich US, Berkshire Hathaway and AIG.

Commenting on the appointment, Zaffino said: “Mark’s broad and deep expertise along with his demonstrated track record leading high-performing teams will be a great asset as we redefine the value we deliver to clients and broker partners in a dynamic risk environment. I am pleased to welcome Mark back to AIG as we implement best practices and drive improvement in our core business performance.”

In a separate announcement, Arch announced that its incumbent chief risk officer and actuary, François Morin, will succeed Lyons as CFO effective 25 May.