|AIG NAMES SID SANKARAN SENIOR VICE PRESIDENT, CHIEF RISK OFFICER|
NEW YORK, Nov 08, 2010 -- American International Group, Inc. (AIG) today announced that Sid Sankaran will join AIG as Senior Vice President, Chief Risk Officer. Mr. Sankaran will report to AIG Executive Vice President, Finance, Risk, and Investments, Peter D. Hancock. He will succeed Robert Lewis, who last month announced that he would retire from AIG following a smooth transition period. Mr. Sankaran's direct reports will include the Chief Risk Officers of all AIG business units and the leadership of the Corporate Enterprise Risk Management functions.
"Sid Sankaran comes to AIG with the broad-ranging risk management experience that an enterprise of this scope must have," said Robert H. Benmosche, AIG President and CEO. "We are on our way to fulfilling our commitment to repay the government; now is the time to concentrate on re-establishing AIG as a world-class insurance organization. Risk Management is crucial to that task, and Sid is well qualified to take on this important leadership role."
Mr. Sankaran joins AIG from Oliver Wyman Financial Services, where he was a partner in the Finance and Risk practice and headed the firm's Toronto office. He had served since 2006 as Canadian Market Manager and recently was a member of the Oliver Wyman Financial Services Global Management Committee, working for the past five years with financial services executives on risk management issues. He also conducted strategy and risk-focused studies of financial services companies, including insurers, banks, securities firms, and specialty finance companies in North America and Europe. Earlier in his career, Mr. Sankaran served at Mercer Risk, Finance & Insurance consulting and at MMC Enterprise Risk, focusing on insurance company valuation and Mergers and Acquisitions. He holds a Bachelor of Mathematics degree in actuarial science from the University of Waterloo in Ontario, Canada. He completed actuarial examinations from the Society of Actuaries.
American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
SOURCE: American International Group, Inc.