AIG says it will target growth in the Asia-Pacific region following the creation of a new high-level role.

Chairman, President and CEO of MetLife Japan Sachin Shah will start as AIG’s new CEO Asia-Pacific at the end of this month, subject to regulatory approval.

He will report to CEO General Insurance International Chris Townsend and be based in Singapore.

CEO Australia Noel Condon and CEO New Zealand Elliot Hill will report to Mr Shah.

“I look forward to working closely with Sachin to deliver innovation and value to our customers and distribution partners in this dynamic region,” Mr Townsend said.

Mr Shah, who spent 20 years with MetLife in various roles, says he looks forward to growing AIG’s business in the region’s “fast-moving economies”.