AIG Life has appointed Michael Aitchison as chief actuary.
Aitchison (pictured) joins the UK life insurance arm of AIG on 2 August and will report to chief financial officer Donald MacLean.
Aitchison has spent the last five years as financial risk director at Royal London where he was responsible for overseeing financial and insurance risks and developing the actuarial and capital aspects of the risk appetite framework and embedding and developing the Solvency II internal model.
Health & Protection understands Royal London will be announcing Aitchison’s successor next week.
He previously spent a decade and a half with Prudential in a range of product pricing, capital, projects and financial reporting roles, including the launch and development of the PruProtect business.
Commenting on his appointment, MacLean said: “I am delighted that Michael is joining our business and look forward to welcoming him to the team. He brings a depth of market, risk and actuarial expertise to a role that is pivotal to our strategic ambitions.”
