AIG launches new Lloyd’s syndicate for HNI segment

American International Group, Inc. (AIG) has announced proposals to launch a new syndicate at Lloyd’s serving the specialist US high net worth market that will start writing business effective January 1, 2020, subject to regulatory approval. This specialist syndicate represents substantial, accretive new business to the Lloyd’s market, writing up to USD1 billion in gross written premiums.

Syndicate 2019 will be managed by Talbot Underwriting Limited, the managing agency acquired by AIG in 2018, and will underwrite risks in the US high net worth segment, where AIG Private Client Group (PCG) is a recognised market leader in the ultra-high net worth segment, with an established strong distribution network and a sophisticated client proposition.

Syndicate 2019 represents significant new business to the market, driving profitable growth for both Lloyd’s and AIG, and expanding the value proposition for US high net worth customers.