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AIG Names Sabra Purtill Executive Vice President and Chief Investment Officer of its Life & Retirement Business
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
American International Group (NYSE: AIG) appointed Sabra Purtill as Executive Vice President and Chief Investment Officer of its Life & Retirement business, which will soon be rebranded as Corebridge Financial, Inc. Ms. Purtill has extensive experience in risk management and capital markets, previously serving as Chief Risk Officer and Deputy CFO at AIG. Her expertise will support the strategic separation of Life & Retirement from AIG, enhancing asset management capabilities. This move is viewed positively by leadership as AIG prepares for an Initial Public Offering.
Positive
Sabra Purtill's appointment is expected to enhance leadership within Life & Retirement.
Her background in risk management and relationships with investors may bolster AIG's position ahead of its IPO.
The separation of Life & Retirement as a standalone entity is a strategic focus for AIG.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
American International Group, Inc. (NYSE: AIG) today announced that Sabra Purtill, 59, has been appointed Executive Vice President and Chief Investment Officer for its Life & Retirement business (to be rebranded as Corebridge Financial, Inc. following its Initial Public Offering), effective immediately. In her new role, Ms. Purtill will report to Kevin Hogan, Executive Vice President, Chief Executive Officer, Life & Retirement, and she has joined the Life & Retirement Executive Leadership Team.
Sabra Purtill (Photo: Business Wire)
“Sabra has made significant and valuable contributions to AIG in her roles as Chief Risk Officer and previously Deputy CFO. Her risk and capital markets expertise, as well as decades working in senior roles in the insurance industry make her a great fit for this leadership position,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “Repositioning the Life & Retirement operating model for asset management given our strategic partnerships with world class companies such as Blackstone and BlackRock, while maintaining internal capabilities with respect to asset classes where we have a strong track record, is a critical part of the separation of Life & Retirement from AIG. Sabra’s experience and broad industry knowledge will help accelerate this work.”
Kevin Hogan, Executive Vice President & Chief Executive Officer of Life & Retirement, said, “I have deep respect for Sabra and what she has accomplished in her career and at AIG. Sabra also has strong relationships with the analyst and investor communities, and I know she will augment our leadership team as we continue to achieve important milestones towards becoming a standalone, public company.”
Ms. Purtill has been Executive Vice President, Chief Risk Officer, AIG, since July 2021, and has previously served as AIG’s Deputy Chief Financial Officer overseeing Treasury, Rating Agency Relations, Investor Relations and Corporate Development. Prior to joining AIG in 2019, Ms. Purtill was with The Hartford Financial Services Group, Inc., where she served as Senior Vice President, Investor Relations & Treasurer. She was also Managing Director, Investor Relations & Communications, at Assured Guaranty Ltd. and prior to that was a Corporate Finance Officer at ACE Limited, now known as Chubb Limited. Ms. Purtill holds an M.A. from Georgetown University and a B.A. with High Honors from The University of Virginia.
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
