American International Group (AIG) is to launch AIG Facultative Desk, Latin America after successfully integrating Talbot’s regional facultative underwriting platforms in Miami and Santiago with its regional underwriting team.
This unified offering follows AIG’s acquisition of Validus last year, a deal which saw the company gain some attractive and diversified franchises including reinsurer Validus Re, insurance-linked securities (ILS) asset manager AlphaCat, Talbot, and Western World, a specialist in U.S small commercial excess and surplus underwriting, and Crop Risk Services, which offers access to the North American crop insurance market.
“We´re glad to welcome Talbot Underwriting Latam´s team to AIG. This unification of operations and increased product offering will allow AIG to better serve the needs of regional cedents and reinsurance brokers in the region,” commented Paride Della Rosa, Chief Executive Officer for Latin America and the Caribbean.
AIG´s Facultative Desk, Latin America will offer facultative reinsurance solutions through a single access point that can offer AIG and Talbot joint capacity
Luis Sonville, who will lead AIG Facultative Desk, Latin America, added, “The AIG Facultative Desk, Latin America will provide clients with increased capacity and greater product offerings, including lead lines, on behalf of AIG and Talbot Underwriting Ltd Syndicate 1183 at Lloyd’s.”
