BENGALURU – Insurer American International Group (AIG) 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 Ms Sabra Purtill would replace Mr Lyons in the role.

Mr Lyons will be paid US$7.5 million (S$9.9 million) in cash as part of a settlement in recognition of his work towards 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. REUTERS