AIG terminates CFO contract for violating confidentially rules

AIG has terminated the contract of its interim chief financial officer (CFO) and executive vice president, global chief actuary and head of portfolio management, Mark Lyons, for violating confidential and non-disclosure obligations.

AIG said these violations were unrelated to the company’s financial statements, financial reporting generally and related disclosure controls and procedures.

Lyons will receive a settlement from AIG for his contribution to the firm since joining in 2018.

Sabra Purtill has been named AIG’s interim CFO and Turab Hussain interim global chief actuary.

Purtill was chief investment officer at Corebridge Financial. Prior to that, she was AIG’s executive vice president, chief risk officer (CRO) and deputy chief financial officer.

Hussain was previously AIG’s CRO of general insurance. Before joining AIG, he was CRO at PartnerRe and chief insurance risk officer at The Hartford Financial Services Group.

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