(Reuters) -Insurer American Worldwide Group (NYSE:) named business veteran Keith Walsh as its govt vp and chief monetary officer on Wednesday, efficient Oct. 21 this 12 months.
Walsh has over 20 years of expertise in finance management and had earlier served because the CFO of Marsh, a unit of Marsh McLennan (NYSE:).
He had additionally labored as an fairness analysis analyst at Citi for 14 years, the place he lined the insurance coverage sector, together with property and casualty underwriters, insurance coverage brokers, asset managers and small- and mid-cap life insurers.
The transfer comes at a time when insurers have benefited from a revival in spending on insurance policies regardless of rising premiums and their earnings from investments has been fueled by a powerful U.S. fairness market.
Walsh can be primarily based in New York and can lead the business insurer’s international finance group, the corporate stated.
“Keith is a highly accomplished executive with deep financial expertise and significant investor experience in the financial services sector, particularly the insurance industry,” Peter Zaffino, chairman and CEO of AIG, stated in a press release.
Walsh will report back to Zaffino, who joined the agency in 2017 as international chief working officer. He’ll succeed Sabra Purtill, who has served as AIG’s CFO since 2023.
Purtill initially joined AIG in 2019 as deputy CFO. Three years later, AIG spun-off its life and retirement enterprise into CoreBridge Monetary, because of strain from activist buyers.
She left to function the chief funding officer of CoreBridge and rejoined the insurer in June final 12 months as its finance chief.
Shares of the corporate have gained practically 8% year-to-date.
