AIG buys out Ascot
American International Group (AIG) has bought the Lloyd’s of London agency Ascot Underwriting Holdings outright.
AIG announced last week it had acquired the remaining shares of Ascot. The insurer previously held a 40% stake in the company.
Ascot is the managing agency of AIG’s Lloyd’s Syndicate 1414, and underwrites general insurance business for the insurer.
AIG Executive VP Nicholas Walsh says the purchase will help expand AIG’s presence in the Lloyd’s market.
AIG announced last week it had acquired the remaining shares of Ascot. The insurer previously held a 40% stake in the company.
Ascot is the managing agency of AIG’s Lloyd’s Syndicate 1414, and underwrites general insurance business for the insurer.
AIG Executive VP Nicholas Walsh says the purchase will help expand AIG’s presence in the Lloyd’s market.