AIG has appointed Mark Lyons as chief financial officer and executive vice president.
He replaces Sid Sankaran, who will remain with the US insurance giant in an advisory capacity through the year-end reporting process for fiscal year 2018.
Lyons will also form part of the carrier’s executive leadership team and will report directly to AIG president and CEO, Brian Duperreault.
AIG said that Lyons will retain his role as chief actuary of general insurance until a successor is found.
Lyons joined AIG earlier this year from Arch 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.
During his career, Lyons has also held various positions at Zurich US, Berkshire Hathaway and AIG.
Duperreault said: “Since his arrival at AIG, Mark has made an immediate and positive impact on our company. 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.”
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.”