AIG Acquires Remaining Ascot Shares
The world's largest insurer, American International Group, Inc (AIG) on Monday said it had acquired all of the shares of Ascot Underwriting Holdings Ltd, a Lloyd's of London agency that it helped form in 2001.
AIG previously held about 40 percent of Ascot Underwriting. It did not disclose what it paid to acquire Ascot in full.
Ascot is the managing agency of AIG's Lloyd's Syndicate 1414. It counts customers across the world, and has offices in London, Singapore, Spain and Houston, Texas.
Lloyd's, the world's oldest and largest insurance market, has attracted large corporate investments in recent years as efforts to modernize the market have taken root.
Published on July 15, 2008
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