AIG Made History with the Launch of Largest-Ever Syndicate at Lloyd’s

AIG | May 05, 2020

  • AIG has launched Lloyd’s Syndicate 2019, the largest-ever syndicate to be launched at Lloyd’s.

  • AIG will now operate the ninth largest managing agency in the Lloyd’s market, in terms of capacity.

  • For Lloyd’s and the third-party investors and capital providers, Syndicate 2019 represents an opportunity to access the high net worth segment.

American International Group has launched Lloyd’s Syndicate 2019 — the largest-ever syndicate to be launched at Lloyd’s.

Syndicate 2019 will exclusively reinsure risks from AIG’s Private Client Group (PCG), which operates in the high net worth segment.

Significant capital support has been received from high-quality investors and capacity providers, said AIG in a statement.


In combination with its existing Lloyd’s operations, AIG will now operate the ninth largest managing agency in the Lloyd’s market, in terms of capacity, said AIG in a statement.

For Lloyd’s and the third-party investors and capital providers, Syndicate 2019 represents an opportunity to access the high net worth segment.

Our partnership with Lloyd’s will materially benefit PCG’s clients and enable our high net worth business to further capitalize on its pre-eminent market position, For AIG, this transaction represents a continuation of our strategy to optimize our general insurance portfolio, create additional products for clients, diversify our capital base, and improve the quality of our earnings to drive value for all our stakeholders.

- Peter Zaffino, president and global chief operating officer, AIG.

Syndicate 2019 is managed by Talbot Underwriting Ltd., the managing agency AIG acquired in 2018 as part of the Validus transaction.

Current coverages offered by Syndicate 2019 reflect PCG’s product offerings including homeowners, auto, collections, yacht, personal umbrella and specialty coverage for earthquake, excess flood and workers compensation.


AIG was advised on the transaction by Aon, Evercore and Skadden, Arps, Slate, Meagher & Flom LLP.

About AIG

American International Group, Inc. (AIG) is a global insurance company with operations in more than 80 countries and jurisdictions. It provides a range of insurance products to support clients in business and in life, including: general property/casualty, life insurance, and retirement and financial services through our General Insurance, Life and Retirement and Investments business units.


An everyday hero is someone who has your back and pushes you to do your best. Here’s a story from one of our agents. When Dan Cressman was 19 years old, he experienced a family crisis, but his mentor was there to help. It’s an inspiring story that goes straight for the heartstrings.


An everyday hero is someone who has your back and pushes you to do your best. Here’s a story from one of our agents. When Dan Cressman was 19 years old, he experienced a family crisis, but his mentor was there to help. It’s an inspiring story that goes straight for the heartstrings.

Related News


World Insurance Associates Acquires Cotten Coverage Insurance Agency and Expands Long Island Presence

World Insurance Associates LLC | September 28, 2022

World Insurance Associates LLC (WIA), a Top 50 Insurance Brokerage, announced today that it acquired Cotten Coverage Insurance Agency (“Cotten Coverage”) of Farmingville, NY on September 1, 2022. Terms of the transaction were not disclosed. Cotten Coverage provides property & casualty personal lines products and services, as well as commercial lines products and services to customers on Long Island. The agency was founded in 1991 by Bob Cotten and his wife Karen. Bob started in the business as an associate actuary with Allstate on Long Island in 1984. “We know our clients and we know insurance, so our clients have the peace of mind that comes with knowing their insurance agency can help them regardless of how big, small, unique, or specific their insurance needs are, We take great pride in the quality of service we provide for our customers, and we look forward to continuing to do so as part of WIA.” -Bob Cotten, Owner, Cotten Coverage insurance Agency On behalf of everyone at WIA, I’d like to welcome Cotten Coverage to the World family, Cotten Coverage is a successful agency—voted “Best Insurance Agency on Long Island" for 10 years—and I know they will continue providing their clients the excellent service they have come to expect,says Rich Eknoian, CEO and Co-Founder of WIA. Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised them on the transaction. APEX Consulting, Inc. provided legal counsel to Cotten Coverage, and Agency Brokerage Consultants advised them on the transaction. No other advisors, diligence firms or legal counsel were disclosed. About World Insurance Associates LLC World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed 160 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #2 on the Fastest Growing Brokers list by Business Insurance and is a Top-50 ranked personal lines agency by Insurance Journal.

Read More


Wright National Flood Insurance Company announces agreement with IAT Insurance Group

Wright National Flood Insurance | November 02, 2022

Wright National Flood Insurance Company, the nation's leading provider of federal flood insurance, has announced an agreement to acquire the flood insurance policy book from IAT Insurance Group Inc. and its affiliate Occidental Fire and Casualty Company of North Carolina ("IAT"). Wright Flood will service, administer and issue flood coverage under the National Flood Insurance Program (NFIP) for IAT policyholders and agents. Additionally, Wright will also assume the servicing of IAT Insurance Group's private flood business. Wright Flood has more than 40 years of experience exclusively in the flood insurance industry. It is widely recognized for its industry-specific knowledge, claims response and long-standing commitment to partner with agents and policyholders, especially at the time of a flood loss. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing the service customers deserve. Patricia Templeton-Jones, Wright National Flood Insurance Services president, said she is excited about the partnership with IAT agents. "IAT Insurance Group has provided flood coverage solutions for the past 15 years for its agent partners and policyholders, We look forward to continuing their long history and providing their agents with our experience in the flood insurance industry. Since the inception of the NFIP, Wright Flood has been a premier provider of flood coverage and private flood options for homeowners and business owners." - Templeton-Jones Wright has a well-established reputation of providing excellent service to customers and agents, especially at the time of a flood loss, We are confident customers will continue appreciating the peace of mind that comes with having flood coverage, said Joe Tracy, IAT's executive vice president of inland marine, property and aviation. Beginning in early 2023, Wright Flood will manage IAT's NFIP flood placements. Wright National Flood Insurance Company, which is AM Best-rated as A (Excellent) for financial strength, will issue all new policies and renewals. For retail agents accessing flood coverage through IAT, there will be minimal change in the process to continue to provide NFIP coverage for policyholders. About Wright National Flood Insurance Company Wright National Flood Insurance Company, the largest flood insurance provider in the nation, offers federal, excess, and private flood insurance with leading industry experience, rated A (Excellent) by AM Best. Wright Flood takes pride in its exceptional claims reputation, providing superior service customers deserve and its user-friendly technology. About IAT IAT Insurance Group is a privately-owned, specialty insurance group providing property-casualty and surety insurance products for niche markets. With more than 900 employees and office locations across the country, IAT Insurance Group's specialty units include Commercial Transportation, Excess and Surplus, Inland Marine, Reinsurance, Surety and Management Liability. The IAT Insurance Group companies are rated A- (Excellent) by AM Best.

Read More


PolicyMe Launches New Critical Illness Insurance Offering the Most Covered Conditions in Canada for Adults

PolicyMe | November 08, 2022

Toronto-based Insurtech PolicyMe announces the launch of a new Critical Illness Insurance product that offers the most complete coverage in Canada. In partnership with and underwritten by Canadian Premier Life Insurance Company (“Canadian Premier”), this new product covers 44 conditions—10-15 more than the average Canadian insurer. This launch follows PolicyMe’s Series A announcement and will complement their existing core Term Life Insurance offering, enabling Canadians to gain accessible, affordable, and comprehensive financial protection across a wider range of health and life events. With 42% of Canadian parents having one month or less of expenses in emergency savings, PolicyMe’s Critical Illness Insurance product provides Canadian families with the financial protection to withstand lost income or unforeseen medical expenses due to a critical illness. “Having personally battled cancer years ago, I know first-hand how stressful a critical illness diagnosis can be, By offering Critical Illness Insurance, we hope that we’re able to remove the financial stress of a diagnosis so our customers can focus on what’s most important: their recovery.” -Jeff McKay, Co-Founder & CTO of PolicyMe How PolicyMe is building a better Critical Illness Insurance product Since launching PolicyMe Term Life Insurance in March 2021, there has been consistent interest from customers about the possibility of bundling Critical Illness coverage into their Life Insurance policies. PolicyMe’s research shows that over 60% of customers believed that Critical Illness Insurance would be a valuable product to own; however awareness and knowledge around the product remained low amongst Canadians. Guided by their mission of building simpler and more affordable insurance products for Canadian families, the PolicyMe team set out to better understand the Critical Illness Insurance needs of Canadians and identify opportunities where they could use their technology to improve the product and experience for customers. From our many conversations with customers, it was clear that the majority preferred a plan that maximized coverage for more illnesses. There are plans out there that only cover the three major illnesses Canadians experience—cancer, strokes, and heart attacks. But those aren’t the only illnesses that affect people financially. We made sure to cover every serious medical condition we could that can cause hardship. The result is a much lower probability that someone suffers an illness and doesn’t get the financial resources they need, and a lower chance that someone thinks they’re insured for something when they really aren’t, states Andrew Ostro, Co-Founder & CEO of PolicyMe. How PolicyMe is bringing more critical illness coverage to Canadians PolicyMe offers the most complete Critical Illness coverage in Canada for adults, covering 44 conditions (27 critical conditions and 17 early stage conditions). Given the prevalence of cancer and cardiovascular conditions in Canada, PolicyMe has incorporated coverage for more early-stage cancers and cardiovascular conditions than any insurer in the country, without sacrificing affordability. Keeping with PolicyMe’s simplified approach to technology, new customers can apply for life insurance and be underwritten for critical illness insurance through one single and concise application. We wanted to ensure that comprehensive coverage is affordable and accessible to Canadian families who are already juggling the demands of rising living costs, By removing inefficiencies from the traditional insurance model, we continue to work towards our goal of providing low-priced, high-value products with extensive coverage,said Ostro. Critical Illness Insurance is the first new product launch of many as PolicyMe kicks off its product expansion post Series A, delivering accessible insurance to help Canadian families financially withstand a broader range of unexpected life events. As PolicyMe continues to build its vision of being there for every family when life unexpectedly changes, Critical Illness Insurance enables the company to provide not only death benefits, but also living benefits to policyholders. We’ve received overwhelming demand from both customers and industry partners to expand our portfolio of high-quality, digital-first insurance products that deliver on our promise of value and simplicity, Over the next 12 months, we’ll be accelerating product development in the health and dental space, and will be rapidly scaling our in-house capabilities to do so,says Ostro. About PolicyMe PolicyMe is a Canadian digital life insurance solution built to make financial protection for families simple and affordable. PolicyMe makes it easy to get a quote and apply for term life insurance and critical illness insurance online in 20 minutes or less. Using technology, they've streamlined the traditional insurance process resulting in a fully-underwritten insurance policy that delivers the same quality protection customers deserve but with fewer steps and lower costs.

Read More