AIG Names Shane Fitzsimons as New CFO

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Shane Fitzsimons

AIG has named insider Shane Fitzsimons as its new CFO, changing Mike Lyons, as it prepares to spin off its existence and retirement company.

Fitzsimons joined AIG in 2019 as global head of shared companies and was most a short while ago serving as main administrative officer. Lyons, who has served as CFO given that December 2018, will shift into the freshly designed role of global main actuary and head of portfolio management.

AIG reported the modifications were aspect of an effort and hard work to “further placement the group to supply solid economical and operational efficiency above the prolonged expression and boost its management staff as aspect of the separation of the Lifestyle & Retirement company.”

Below its AIG 200 initiative, the insurance company has been in search of to minimize its expense ratio and general functioning charges.

“Shane is a seasoned finance and functions govt with a solid keep track of document of achievements,” CEO Peter Zaffino reported in a news launch. “His management and core abilities accelerated the execution of AIG 200 throughout the global pandemic and proven a solid basis as we continue on to instill a tradition of operational excellence throughout AIG.”

Fitzsimons is a chartered accountant from Ireland and an alumnus of Rockwell Higher education in County Tipperary. Ahead of joining AIG, he put in 23 years at GE, together with operational and economical management roles throughout the U.S., Asia, and Europe.

Zaffino reported Lyons’s shift to the role of global main actuary “will further more improve our concentrate on large-high-quality underwriting excellence and portfolio positioning, which underpins AIG’s in general development tactic.”

AIG also introduced that as aspect of its preparations for the existence and retirement spinoff, Elaine Rocha, presently global main functioning officer, reinsurance, has been promoted to global main financial investment officer. She will commence reporting to Fitzsimons in January 2022.

“Elaine’s wide knowledge and commitment to high-quality make her the suitable prospect to direct the investments group that will continue being with AIG as we independent the Lifestyle & Retirement company,” Zaffino reported.

AIG, insurance company, MIke Lyons, Peter Zaffino, Shane Fitzsimons