July 15, 2008
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.
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