Appointments Position AIG for Continued
Success and Enhance Life & Retirement’s IPO Readiness
- Mark Lyons to Become Global
Chief Actuary & Head of Portfolio Management, AIG
- Shane Fitzsimons to Become
Chief Financial Officer, AIG
- Elias Habayeb Named Chief
Financial Officer, Life & Retirement
- Elaine Rocha Named Global
Chief Investment Officer, AIG
- Ted Devine Joins AIG as
Global Head of AIG 200
American International Group (NYSE: AIG) today announced senior
leadership changes that further position the organization to
deliver strong financial and operational performance over the long
term and enhance its leadership team as part of the separation of
the Life & Retirement business.
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Shane Fitzsimons (Photo: Business
Wire)
“The leadership roles we are announcing today strengthen our
senior management team and support the momentum we have with
respect to our highest strategic priorities: positioning AIG’s core
businesses for long-term, sustainable profitability, preparing our
Life & Retirement business to be a standalone market-leading
franchise, and the continued execution of AIG 200,” said Peter
Zaffino, President and Chief Executive Officer, AIG. “We are
deploying exceptional talent in critical roles to ensure AIG
becomes a top performing company focused on value creation for all
our stakeholders, increasing financial flexibility and achieving
excellence in everything we do.”
AIG announced today that effective January 1, 2022, Mark Lyons,
currently Executive Vice President and Chief Financial Officer,
AIG, will step into a newly created role of Executive Vice
President, Global Chief Actuary and Head of Portfolio Management,
AIG. In this role, Mr. Lyons will oversee AIG’s global actuarial
and ceded reinsurance functions, as well as lead ongoing
improvements and repositioning in AIG’s commercial and personal
insurance portfolio. When Mr. Lyons transitions to his new role,
Shane Fitzsimons will become Executive Vice President and Chief
Financial Officer, AIG. Mr. Lyons and Mr. Fitzsimons will both
continue reporting to Mr. Zaffino and remain members of AIG’s
Executive Leadership Team.
Mr. Zaffino added: “Mark is one of the most accomplished and
respected actuaries and business executives in our industry.
Serving in this new role will further strengthen our focus on
high-quality underwriting excellence and portfolio positioning,
which underpins AIG’s overall growth strategy. Shane is a seasoned
finance and operations executive with a strong track record of
success. His leadership and core capabilities accelerated the
execution of AIG 200 during the global pandemic and established a
strong foundation as we continue to instill a culture of
operational excellence across AIG.”
AIG also announced today that Elias Habayeb, currently Chief
Financial Officer, General Insurance and Deputy Chief Financial
Officer, AIG, has been named Chief Financial Officer for AIG’s Life
& Retirement business, effective immediately. Mr. Habayeb is
replacing current Life & Retirement Chief Financial Officer,
Tom Diemer, who is leaving the company to pursue other
opportunities.
“Elias has an extensive and accomplished financial and insurance
background, as well as deep knowledge of all of AIG’s businesses,
including our Life & Retirement and Investments businesses,”
Mr. Zaffino said. “He will be an exceptional public company CFO and
provide the Life & Retirement executive leadership team with
significant expertise, insight and financial acumen as they move
toward an initial public offering.”
As part of the ongoing work to separate the Life &
Retirement business, including portions of AIG’s Investments unit,
Elaine Rocha, currently Global Chief Operating Officer,
Reinsurance, has been promoted to Global Chief Investment Officer,
AIG, effective immediately. She reports to Mr. Lyons and will
transition to reporting to Mr. Fitzsimons in January 2022. Ms.
Rocha will lead the Investments unit that will remain with AIG.
Mr. Zaffino said: “Elaine has a multi-faceted background with
considerable depth and breadth in the Property & Casualty
insurance and investment management sectors. She also has
significant operational expertise and a proven ability to lead
complex programs and will continue to be an invaluable asset to AIG
as we execute on our longer-term strategic priorities. Elaine’s
broad experience and commitment to quality make her the ideal
candidate to lead the Investments group that will remain with AIG
as we separate the Life & Retirement business.”
AIG also announced that Ted Devine has joined AIG as Global Head
of AIG 200, reporting to Mr. Zaffino. Mr. Devine has been advising
AIG on its AIG 200 effort since 2019, focusing on technology
delivery and user experience. In this new role, he will be
responsible for overseeing and driving continued momentum across
AIG 200 as the company modernizes its infrastructure.
Mr. Zaffino said: “Ted brings significant industry experience,
deep insurance-operations knowledge, and a strong track record of
leading successful transformational change resulting in improved
performance for the long term. The AIG 200 effort is establishing a
strong foundation that will improve our day-to-day operations;
Ted’s oversight of this work will ensure that we maintain momentum
and achieve lasting transformation as we continue to instill a
culture of operational excellence at AIG.”
Mark Lyons Biography
Mr. Lyons joined AIG in July 2018 as Chief Actuary, General
Insurance, with more than 40 years of experience in the insurance
industry. He assumed the role of Chief Financial Officer, AIG in
December 2018. Prior to joining AIG, he was Executive Vice
President, Chief Financial Officer and Treasurer of Arch Capital
Group, Ltd. He was previously Chairman and Chief Executive Officer
of Arch Worldwide Insurance Group after serving in various
capacities within Arch Insurance U.S. operations. Prior to Arch,
Mark held positions of increasing responsibility at Zurich U.S.,
Berkshire Hathaway and previously at AIG.
Shane Fitzsimons Biography
Mr. Fitzsimons joined AIG in July 2019 as Global Head of Shared
Services. He has held roles with increasing responsibility, most
recently serving as Executive Vice President & Chief
Administrative Officer, which included Head of Financial Planning
& Analysis. Mr. Fitzsimons also oversaw the implementation of
AIG 200 across AIG. Previously, he spent 23 years at GE, 13 of
which as an Officer, in operational and financial leadership roles
across the United States, Asia, and Europe, including Global Head
of Shared Services, Chief Financial Officer for all international
operations, Head of Financial Planning and Analysis across GE and
Chief Financial Officer of GE Aviation Services. He has been a
Fellow of the Institute of Chartered Accountants (FCA) in Ireland
since 1993.
Elias Habayeb Biography
Mr. Habayeb has been with AIG for more than 16 years, serving in
a number of senior financial roles, most recently as Chief
Financial Officer for General Insurance where he oversaw all
finance activities supporting the General Insurance business. He
also served as AIG’s Deputy Chief Financial Officer and will
continue to serve as AIG’s Chief Accounting Officer through
February 2022. His previous roles included Chief Financial Officer
of International Lease Finance Corporation (ILFC), a wholly owned
subsidiary of AIG, where he led efforts for its ultimate sale in
2014. Prior to AIG, Mr. Habayeb was a partner at Deloitte and has
more than 25 years of financial services experience in banking and
insurance.
Elaine Rocha Biography
Over her more than 11-year tenure with AIG, Ms. Rocha has made
significant contributions across multiple AIG businesses and
functions, including Reinsurance; Investments; Legal and AIG 200.
From 2015 to 2020, Ms. Rocha served as Global Chief Operating
Officer for AIG’s Investments unit. Before joining AIG, Ms. Rocha
served as an attorney in private practice for over a decade.
Ted Devine Biography
Prior to joining AIG, Mr. Devine served as Founder and CEO of
Insureon (a leading InsureTech broker), President of Aon Global
Retail Brokerage, CEO of Aon Reinsurance, President of Aon
Americas, a senior partner at McKinsey and Company focusing on the
Insurance sector, and Senior Manager of Deloitte’s M&A Practice
where he focused on capital structure transactions.
American International Group, Inc. (AIG) is a leading global
insurance organization. AIG member companies provide a wide range
of property casualty insurance, life insurance, retirement
solutions, and other financial services to customers in
approximately 80 countries and jurisdictions. These diverse
offerings include products and services that help businesses and
individuals protect their assets, manage risks and provide for
retirement security. AIG common stock is listed on the New York
Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @AIGinsurance
www.twitter.com/AIGinsurance | LinkedIn:
www.linkedin.com/company/aig. These references with additional
information about AIG have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries and jurisdictions, and coverage is subject to
underwriting requirements and actual policy language. Non-insurance
products and services may be provided by independent third parties.
Certain property-casualty coverages may be provided by a surplus
lines insurer. Surplus lines insurers do not generally participate
in state guaranty funds, and insureds are therefore not protected
by such funds.
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version on businesswire.com: https://www.businesswire.com/news/home/20211025005692/en/
Quentin McMillan (Investors): quentin.mcmillan@aig.com Dana
Ripley (Media): dana.ripley@aig.com
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