Call: 203-637-6655 or email – Kyle Shepard

Taking Steps

Re-organizing AIG Private Client Group

On Monday AIG announced that it has entered into an agreement with Safeco Insurance, (a Liberty Mutual Company) and Heritage Insurance to offer AIG agents the opportunity to transition their upper middle personal insurance business to Safeco and Heritage. The transition is to begin in the fall of 2020.

“On Monday AIG announced that it has entered into an agreement with Safeco Insurance”

AIG will transition a select portion of its personal insurance business that provides upper middle market clients with home, auto, and umbrella insurance to Safeco and Heritage

This announcement comes on the heels of a March 2020 announcement of AIG Private Client Group launching Lloyds Syndicate 2019 to provide exclusive reinsurance for AIG Private Client (high net worth client). Syndicate 2019 will be managed by Talbot Underwriting and give LLoyd’s access to the high net worth business.

What does it all mean?

At a minimum it will be a significant amount of work for those agents who will begin transitioning business to the upper middle class carriers Safeco and Heritage or Lloyd’s!!

The term upper middle is a very vague in that we do not know where Safeco/Heritage ends and Lloyd’s takes over. Upper middle ?? I guess we will see where the line is drawn.

The key line in Monday’s announcement is the “refinement of Private Client Group’s risk appetite”. I guess this too will come out in the wash.

If you have questions about AIG call Kyle at 203.698.9342 or email him at kshepard@shepardinsgrp.com.


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