AIG announces closing of Validus acquisition
American International Group, Inc has announced it has completed its acquisition of Validus Holdings, Ltd. The transaction, which was first announced on 22nd January 2018, closed following receipt of regulatory approvals and approval of Validus shareholders.
As part of AIG, Validus adds attractive and diversified franchises, including Validus Re, a leading reinsurance platform; AlphaCat, an insurance-linked securities asset manager; Talbot, a Lloyd's syndicate; Western World, a specialist in U.S. small commercial excess and surplus underwriting; and Crop Risk Services, which provides access to the North American crop insurance market.
“We are very pleased to welcome Validus to AIG,” said Brian Duperreault, President and Chief Executive Officer of AIG. “Validus’ experienced team and complementary businesses will help us deliver sustainable, profitable growth as we continue to build value for our shareholders.”
Peter Zaffino, AIG's Chief Executive Officer, General Insurance, said, “We look forward to working with the Validus team on the expanded capabilities and value we can deliver to our clients and broker partners. The Validus businesses will be immediately accretive to our performance in General Insurance now that they are officially part of AIG.”
In the UK, AIG Europe Limited is one of the largest insurance companies specialising in the UK business insurance market. With offices throughout the country, AIG insures many of the UK’s top businesses, thousands of mid sized and smaller companies, as well as millions of individuals. Over the past 60 years, AIG has established an enviable reputation for developing innovative insurance products that keep in step with new trends and directions in business. Today, AIG has one of the widest product ranges in the market. youTalk-insurance sharing AIG insurance news and video.
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