AIG appoints chief risk officer

AIG has announced the appointment of Sid Sankaran as senior vice president and chief risk officer.

Sankaran, who joins from Oliver Wyman Financial Services, will report to AIG executive vice president, finance, risk, and investments, Peter D. Hancock. He succeeds Robert Lewis, who last month announced that he would retire from AIG.

Sankaran’s direct reports will include the chief risk officers of all AIG business units and the leadership of the corporate enterprise risk management functions.

AIG President and chief executive Robert H. Benmosche said: “Sid Sankaran comes to AIG with the broad-ranging risk management experience that an enterprise of this scope must have. We are on our way to fulfilling our commitment to repay the government; now is the time to concentrate on re-establishing AIG as a world-class insurance organization. Risk management is crucial to that task, and Sid is well qualified to take on this important leadership role.”