AIG Leads Launch of Syndicate 2478 at Lloyd’s Through Multi-Year Blackstone Strategic Relationship
AIG has announced the launch of Syndicate 2478 at Lloyd's, set to begin underwriting from January 1, 2025. The syndicate, managed by Talbot Underwriting , has an approved stamp capacity of $715 million for the 2025 Year of Account. Blackstone will provide third-party capital through Lloyd's London Bridge 2 PCC structure and serve as investment manager for syndicate assets.
The syndicate will participate in AIG's outwards reinsurance program, accessing risk from AIG's global property & casualty businesses. This strategic relationship demonstrates AIG's underwriting portfolio quality and leverages its partnerships with Blackstone and Lloyd's.
AIG ha annunciato il lancio di Syndicate 2478 presso Lloyd's, che inizierà a svolgere attività di sottoscrizione dal 1 gennaio 2025. Il sindacato, gestito da Talbot Underwriting, ha una capacità di approvazione stampata di $715 milioni per l'annata contabile 2025. Blackstone fornirà capitale di terzi attraverso la struttura Lloyd's London Bridge 2 PCC e agirà come gestore degli investimenti per gli attivi del sindacato.
Il sindacato parteciperà al programma di riassicurazione esterna di AIG, accedendo ai rischi delle attività globali di proprietà e responsabilità di AIG. Questa relazione strategica dimostra la qualità del portafoglio di sottoscrizione di AIG e sfrutta le sue partnership con Blackstone e Lloyd's.
AIG ha anunciado el lanzamiento de Syndicate 2478 en Lloyd's, que comenzará a suscribir a partir del 1 de enero de 2025. El sindicato, gestionado por Talbot Underwriting, tiene una capacidad de estampilla aprobada de $715 millones para el Año Contable 2025. Blackstone proporcionará capital de terceros a través de la estructura Lloyd's London Bridge 2 PCC y actuará como administrador de inversiones para los activos del sindicato.
El sindicato participará en el programa de reaseguro externo de AIG, accediendo a riesgos de las operaciones globales de propiedad y responsabilidad de AIG. Esta relación estratégica demuestra la calidad de la cartera de suscripción de AIG y aprovecha sus asociaciones con Blackstone y Lloyd's.
AIG는 2025년 1월 1일부터 언더라이팅을 시작할 Syndicate 2478의 출범을 발표했습니다. Talbot Underwriting이 관리하는 이 신디케이트는 2025 회계 연도에 대해 $715 백만의 승인된 스탬프 용량을 갖추고 있습니다. Blackstone은 Lloyd's London Bridge 2 PCC 구조를 통해 제3자 자본을 제공하고 신디케이트 자산의 투자 관리자 역할을 할 것입니다.
이 신디케이트는 AIG의 외부 재보험 프로그램에 참여하여 AIG의 글로벌 재산 및 사고 비즈니스에서 위험에 접근할 것입니다. 이 전략적 관계는 AIG의 언더라이팅 포트폴리오 품질을 보여주고 Blackstone 및 Lloyd's와의 파트너십을 활용합니다.
AIG a annoncé le lancement de Syndicate 2478 à Lloyd's, qui commencera à souscrire à partir du 1er janvier 2025. Le syndicat, géré par Talbot Underwriting, a une capacité d'impression approuvée de $715 millions pour l'année comptable 2025. Blackstone fournira un capital tiers via la structure Lloyd's London Bridge 2 PCC et agira en tant que gestionnaire d'investissement pour les actifs du syndicat.
Le syndicat participera au programme de réassurance externe d'AIG, accédant aux risques des activités mondiales de biens et de responsabilité d'AIG. Cette relation stratégique démontre la qualité du portefeuille de souscription d'AIG et exploite ses partenariats avec Blackstone et Lloyd's.
AIG hat die Gründung von Syndicate 2478 bei Lloyd's bekannt gegeben, das am 1. Januar 2025 mit dem Underwriting beginnen wird. Der Syndikat, der von Talbot Underwriting verwaltet wird, hat eine genehmigte Stempelkapazität von $715 Millionen für das Geschäftsjahr 2025. Blackstone wird über die Struktur Lloyd's London Bridge 2 PCC Drittanbieter-Kapital bereitstellen und als Anlageverwalter für die Vermögenswerte des Syndikats fungieren.
Der Syndikat wird am externen Rückversicherungsprogramm von AIG teilnehmen und Risiken aus AIGs globalem Sach- und Haftpflichtgeschäft in Anspruch nehmen. Diese strategische Beziehung zeigt die Qualität des Underwriting-Portfolios von AIG und nutzt die Partnerschaften mit Blackstone und Lloyd's.
- Secured $715 million in stamp capacity for new syndicate
- Strategic partnership with Blackstone provides access to third-party capital
- Multi-year reinsurance agreement indicates long-term stability
- Expansion of risk distribution capabilities through Lloyd's platform
- None.
Insights
The launch of Syndicate 2478 with
The multi-year commitment from Blackstone signals strong confidence in AIG's underwriting performance. The structure provides AIG with stable, long-term reinsurance capacity while offering Blackstone's investors access to AIG's diverse global P&C portfolio. This innovative approach to capital management could improve AIG's return on equity by sharing risks while retaining underwriting control.
The establishment of Syndicate 2478 demonstrates AIG's sophisticated approach to reinsurance optimization and capital management. By leveraging Lloyd's platform and Blackstone's investment expertise, AIG creates a unique structure that combines traditional reinsurance with efficient capital markets solutions. This arrangement provides flexibility in managing insurance risks while potentially reducing earnings volatility.
The
The syndicate, which will be managed by Talbot Underwriting Limited at Lloyd’s, has approved stamp capacity of
Blackstone will act as investment manager for syndicate assets. The premium written by the Syndicate will access risk from AIG’s highly diversified global property & casualty businesses.
“The launch of Syndicate 2478 is a significant endorsement of the quality of our property & casualty underwriting portfolio and demonstrates the strength of our strategic relationships with Blackstone and Lloyd’s – distinct advantages that set AIG apart,” said Charlie Fry, Executive Vice President, Reinsurance & Risk Capital Optimization, AIG. “AIG is one of the largest and most sophisticated buyers of reinsurance globally and this multi-year agreement with Blackstone highlights the attractiveness of our underwriting performance and expertise. It is also a tremendous opportunity to access the Lloyd’s platform for bespoke and innovative transactions.”
Evercore, Aon plc and Debevoise & Plimpton LLP acted as advisers for AIG.
About AIG
American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in approximately 190 countries and jurisdictions protect their assets and manage risks through AIG operations and network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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AIG Contacts:
Quentin McMillan (Investors): quentin.mcmillan@aig.com
Leah Gerstner (Media): leah.gerstner@aig.com
Source: American International Group, Inc.
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