Ascot acquired by AIG

by David Masters

Story link: Ascot acquired by AIG

Ascot Underwriting Holdings, a Lloyd’s of London Agency, has been acquired by American International Group (AIG), the world’s biggest insurer

AIG purchased Ascot’s shares in full for an undisclosed sum. Previously AIG owned around 40% of Ascot’s shares.

Ascot is the managing agency of Lloyd’s Syndicate 1414 and has offices across the world in London, Spain, Singapore and Houston, Texas.

Martin Reith, chief executive of Ascot, said he ‘looks forward’ to working more closely with AIG.