AIG Launches Syndicate At Lloyd's For Wealthy Clients
Law360, London (October 23, 2019, 5:45 PM BST) -- U.S. insurer AIG said Wednesday it plans to double its presence at Lloyd's of London with the launch in January of a high-net-worth business that has a target growth of up to $1 billion in gross written premiums.
The American Insurance Group Inc. aims to establish a new syndicate on Jan. 1 through its London market subsidiary, Talbot Underwriting. Specialized high-net-worth insurance focuses on coverage for high-value homes and other possessions.
Talbot Underwriting already operates Syndicate 1183 on behalf of AIG, writing $950 million in premiums, primarily in property business, as well as political risk and marine cover.
The new business,...
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