ÌìÃÀÍøÕ¾´«Ã½´«Ã½

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Names Doyle, Sankaran to Executive Group

By | June 11, 2013

American International Group Inc. added John Doyle and Sid Sankaran to the insurer’s executive group as Chief Executive Office Robert Benmosche narrows the company’s focus after repaying a U.S. bailout.

Doyle is CEO of ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s commercial property/casualty business, and Sankaran is chief risk officer. Their appointments expand the executive group, which takes “deep dives” evaluating the insurers’ challenges and opportunities, to 10 members, Benmosche said in a memo today obtained by Bloomberg News. Others include ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s chief financial officer and the heads of the life insurance and property/casualty units.

“John and Sid are proven leaders, and their appointments reflect the importance of their roles to the future of ÌìÃÀÍøÕ¾´«Ã½´«Ã½ and their individual contributions,” Benmosche said in the memo.

Benmosche is expanding the panel as he focuses on improving results at the property-casualty division. ÌìÃÀÍøÕ¾´«Ã½´«Ã½ increasingly relies on that operation after divesting non-U.S. life businesses, and Benmosche has struck a deal to sell a plane leasing unit.

“Sid and John have continuously provided strong, complementary leadership and global perspectives on a wide range of decisions involving all aspects of ÌìÃÀÍøÕ¾´«Ã½´«Ã½,” Benmosche said in the memo. Jon Diat, a spokesman for New York-based ÌìÃÀÍøÕ¾´«Ã½´«Ã½, confirmed the memo’s authenticity.

Doyle joined ÌìÃÀÍøÕ¾´«Ã½´«Ã½ in 1986 and ran units including National Union Fire Insurance Co. and American Home Assurance Co.

Sankaran was a partner in the finance and risk practice at Oliver Wyman, the management consulting arm of March & McLennan Cos., before coming to ÌìÃÀÍøÕ¾´«Ã½´«Ã½ in 2010. He replaced Robert Lewis who told the Financial Crisis Inquiry Commission earlier that year that ÌìÃÀÍøÕ¾´«Ã½´«Ã½ underestimated the danger of subprime loans.

Topics Property Casualty ÌìÃÀÍøÕ¾´«Ã½´«Ã½

Was this article valuable?

Here are more articles you may enjoy.