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AIG appoints new CFO when Lyons changes roles



On Monday, American International Group Inc. appointed Shane Fitzsimons CFO and announced that Mark Lyons, the current CFO, would become global chief actuary and portfolio manager for the insurance company.

In addition, AIG announced that it had hired Insureon founder Ted Devine as head of the project to review its activities.

Mr. Fitzsimons joined AIG from the Indian conglomerate Tata Group in 2019 as global head of shared services.

Mr. Lyons returned to AIG as chief actuary in June 2018 and was appointed CFO in December of that year. In his new role, which takes effect on January 1, 2022, he will oversee the insurer's actuarial and reinsurance business "as well as lead ongoing improvements and repositioning of AIG's commercial and personal insurance portfolio," said an AIG statement.

Both Mr. Fitzsimons and Mr. Lyons, which is based in New York, will continue to report to Peter Zaffino, AIG's President and CEO.

Mr. Devine will lead AIG 200, the project that AIG launched in 201

9 as a multi-year program to improve its processes and infrastructure. Mr. Devine worked at Aon PLC and McKinsey & Co. before becoming CEO of the insurance technology company Insureon in 2012. He left Insureon last year.

In addition, AIG appointed Elias Habayeb CFO for its life and pension operations. He was previously CFO, General Insurance and Deputy CFO of AIG. He replaces Tom Diemer, who is leaving the company. AIG is currently separating its life and pension operations and is planning a listed offering for the unit.

Elaine Rocha was also appointed Chief Investment Officer. Previously, she was global chief operating officer. "Miss. Rocha will lead the investment unit that will remain with AIG," the statement said.

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