AIG to transition upper-middle-market clients to other insurers

American International Group has announced that it has entered into an agreement with Safeco Insurance, a Liberty Mutual company, and Heritage Insurance Holdings to offer AIG Private Client Group’s (PCG) agents the ability to transition their upper-middle-market personal insurance business to Safeco and Heritage. The transition will take place beginning in the fourth quarter, subject to regulatory requirements.
AIG said it would transition “a select portion” of its personal insurance business that provides upper-middle-market clients with home, auto and umbrella coverage to Safeco and Heritage. The agreement is part of AIG PCG’s strategy to focus on the high-net-worth segment.