AIG Appoints Keith Walsh as Finance Chief, Reports Reuters

AIG Appoints Keith Walsh as New CFO

American International Group (AIG) has appointed industry veteran Keith Walsh as its executive vice president and chief financial officer, effective October 21. Walsh brings over 20 years of finance leadership experience to the role, having previously served as CFO of Marsh, a part of Marsh McLennan.

Before joining Marsh, Walsh spent 14 years as an equity research analyst at Citi, where he specialized in the insurance sector, analyzing property and casualty underwriters, insurance brokers, asset managers, and smaller life insurers.

This leadership change comes at a time when the insurance industry is witnessing increased spending on policies, despite rising premiums. Insurers are also benefitting from a robust U.S. equity market, which has enhanced their investment income.

Based in New York, Walsh will oversee AIG’s global finance organization. Peter Zaffino, AIG’s chairman and CEO, highlighted Walsh’s substantial financial expertise and investor experience within the financial services sector, particularly in insurance.

Walsh will take over from Sabra Purtill, who has been AIG’s CFO since 2023. Purtill joined the company in 2019 as deputy CFO and played a significant role during the spin-off of AIG’s life and retirement business into CoreBridge Financial, a move prompted by pressure from activist investors. After serving as the chief investment officer of CoreBridge, Purtill returned to AIG last June as its finance chief.

The company’s shares have experienced a nearly 8% increase year-to-date.