AIG to expand into the wholesale London market

AIG Europe will be entering the wholesale London market, the firm announced

In a statement, AIG executive director of commercial lines in the UK Jacqueline McNamee said: “We have worked hard over the last two years to position the UK business for profitable growth. We are now ideally placed to significantly increase our presence in the London wholesale market.”

She said the firm will promote its marine, casualty and property businesses in order to bring it in line with the success of its aviation and energy arm of the businesses.

She added: “We believe our property large limit capability of $1.5bn capacity per risk is attractive in this market. In addition we see further opportunities for financial lines as well as in the specialty markets and emerging risks for example cyber.

“We have the depth of expertise, financial strength and global reach to help our commercial insurance clients to manage virtually any risk with confidence. We want to use skills and scale - and our 60 year history here in London - to contribute to this vibrant marketplace, and to increase our presence in it.”