FILE PHOTO: The AIG logo is seen at its building in New York’s financial district March 19, 2015. REUTERS/Brendan McDermid
October 25, 2021
(Reuters) -American International Group said on Monday it has appointed insider Shane Fitzsimons as its chief financial officer, replacing Mark Lyons, as the insurer prepares for the separation of its life and retirement business.
Fitzsimons joined AIG in July 2019 and was most recently serving as the insurer’s chief administrative officer.
Lyons will step into the newly created role of Global Chief Actuary and Head of Portfolio Management at AIG, the company said.
The insurer’s board last year approved a plan to separate its life and retirement business, which sells insurance and annuities.
The change at the top comes as AIG plans to use an initial public offering to sell part of the business, in which Blackstone Group has agreed to buy a sizeable stake.
(Reporting by Amruta Khandekar; Editing by Devika Syamnath)
Source: One America News Network
