AIG Names Lyons as CFO, Succeeding Sankaran

American International Group (AIG) has appointed Mark D. Lyons to the role of executive vice president and chief financial officer (CFO), succeeding Sid Sankaran, who will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.

Lyons will serve on the AIG Executive Leadership team and will report directly to Brian Duperreault, president and CEO of AIG. Lyons will remain chief actuary, General Insurance, until a successor is named.

Lyons joined AIG in 2018 from Arch Capital Group, where he served as executive vice president, chief financial officer and treasurer since 2012. He joined Arch in 2002 and served in various capacities within Arch Insurance U.S. operations, eventually rising to chairman and CEO of Arch Worldwide Insurance Group. Prior to joining Arch, Lyons held various positions at Zurich U.S., Berkshire Hathaway and AIG.

Sankaran was a partner in the finance and risk practice at Oliver Wyman, the management consulting arm of March & McLennan Cos., before coming to AIG in 2010. He served first as the company’s chief risk officer and then as chief financial officer.

CEO Duperreault thanked Sankaran for his “significant contributions over the years.”