American International Group has picked Sabra Purtill to oversee investments for Corebridge Financial — an AIG spinoff that could come to life with about $256 billion in invested assets.
The New York-based insurer is preparing to use Corebridge as the vehicle for turning the AIG Life & Retirement business into a separate company.
AIG says it hopes to sell a minority stake in Corebridge, through an initial public offering, by June 30. After the IPO, Corebridge stock would trade on the New York Stock Exchange under the symbol CRBG.
AIG has started by promoting Purtill to executive vice president and chief investment officer at AIG Life & Retirement. She would keep those titles at Corebridge after the IPO.
Purtill has been AIG's chief risk officer since July 2021. Before that, she was the deputy chief financial officer.
Purtill also has worked for Hartford Financial Services Group, Assured Guaranty, ACE and Chubb.
She has a bachelor's degree from the University of Virginia and a master's degree from Georgetown.
Other companies also have personnel moves news this week.
F&G
F&G — a Des Moines-based annuity and life insurance arm of Fidelity National Financial — also has chief investment officer news.
David Martin and Leena Punjabi were serving as co-chief investment officers.
Now, the company has named Martin to be the chief risk officer. He will succeed Wendy Young, who has taken over as the chief financial officer.
Punjabi will now be the sole CIO.
F&G also has promoted Matt Christensen to chief operating officer, from chief operating officer, retail markets, and Renee Hamlen to chief human capital and brand officer, from chief marketing officer.
USAA
USAA — a San Antonio-based carrier that has traditionally focused on military service members and veterans — has hired Julie Mix McPeak to be a senior vice president and general counsel for insurance.
McPeak has been senior deputy general counsel at Root, a web-based personal property and casualty insurance broker.
McPeak served for eight years as the insurance commissioner in Tennessee, and for about a year as the top insurance regulator.
She was president of the National Association of Insurance Commissioners in 2018.
She also has worked in private practice as a lawyer at Greenberg Traurig and at Burt & Forman.
