AIG Announces Closing of Validus Acquisition
July 18 2018 - 9:13AM
Business Wire
American International Group, Inc. (NYSE:AIG) today announced it
has completed its acquisition of Validus Holdings, Ltd.
(“Validus”). The transaction, which was first announced on January
22, 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.”
American International Group, Inc. (AIG) is a leading global
insurance organization. Founded in 1919, today AIG member companies
provide a wide range of property casualty insurance, life
insurance, retirement products, and other financial services to
customers in more than 80 countries and jurisdictions. These
diverse offerings include products and services that help
businesses and individuals protect their assets, manage risks and
provide for retirement security. AIG common stock is listed on the
New York Stock Exchange and the Tokyo 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 coverage is subject to 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.
Certain statements in this press release constitute
forward-looking statements. These statements are not historical
facts but instead represent only AIG’s belief regarding future
events, many of which, by their nature, are inherently uncertain
and outside AIG’s control. It is possible that actual results will
differ, possibly materially, from the anticipated results indicated
in these statements. Factors that could cause actual results to
differ, possibly materially, from those in the forward-looking
statements are discussed throughout AIG’s periodic filings with the
SEC pursuant to the Securities Exchange Act of 1934.
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version on businesswire.com: https://www.businesswire.com/news/home/20180718005489/en/
AIGInvestorsLiz Werner,
212-770-7074elizabeth.werner@aig.comorMediaDaniel O'Donnell,
212-770-3141daniel.odonnell@aig.comorMatt Gallagher,
212-458-3247matthew.gallagher2@aig.com
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