AIG Finalizes Agreement With Stone Point Capital to Form Private Client Select Insurance Services, an Independent MGA
American International Group (NYSE: AIG) today announced that it
has finalized its agreement with funds managed by Stone Point
Capital LLC (Stone Point), a leading private equity firm focused on
investing in businesses within the global financial services
industry, to form Private Client Select Insurance Services (PCS),
an independent Managing General Agency (MGA) to serve High Net
Worth and Ultra High Net Worth markets.
As previously announced in February 2023, AIG’s Private Client
Group (PCG) business will move to this new independent platform and
be rebranded. Subject to customary regulatory approvals, PCS is
expected to begin producing business in the third quarter of
The terms of the transaction have not been disclosed.
American International Group, Inc. (AIG) is a leading global
insurance organization. AIG member companies offer insurance
solutions that help businesses and individuals in approximately 70
countries and jurisdictions protect their assets and manage risks.
AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @AIGinsurance
www.twitter.com/AIGinsurance | LinkedIn:
www.linkedin.com/company/aig. These references with additional
information about AIG have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
life and retirement and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. 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.
About Stone Point
Stone Point is an investment firm based in Greenwich, CT, with
over $45 billion of assets under management. Stone Point targets
investments in companies in the global financial services industry
and related sectors. The firm invests in a number of alternative
asset classes, including private equity through its flagship
Trident Funds. Stone Point also manages both liquid and private
credit funds and managed accounts. In addition, Stone Point Capital
Markets supports our firm, portfolio companies and other clients by
providing dedicated financing solutions. For more information,
please visit https://www.stonepoint.com/.
version on businesswire.com: https://www.businesswire.com/news/home/20230426005928/en/
AIG Quentin McMillan (Investors):
firstname.lastname@example.org Dana Ripley (Media):
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