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AIG fires interim CFO Mark Lyons for confidentiality breach

Posted On: Jan. 30, 2023 4:46 PM CST

Mark Lyons

(Reuters) — Insurer American International Group Inc. said on Monday it has terminated Mark Lyons as interim chief financial officer for violating the company's confidentiality obligations.

The violations were unrelated to AIG’s financial statements and earnings reports, it said, adding that Sabra Purtill would replace Mr. Lyons in the role.

Mr. Lyons will be paid $7.5 million in cash as part of a settlement in recognition of his work toward AIG since joining in 2018, the insurer said in a regulatory filing.

He has also been terminated as executive vice president, global chief actuary and head of portfolio management.

Ms. Purtill previously served as chief investment officer of life and health insurer Corebridge Financial, which was spun out of AIG as a publicly traded company last year.