AIG closes Glatfelter acquisition
American International Group (AIG) has completed its acquisition of Glatfelter Insurance Group following the receipt of regulatory approvals and other customary closing conditions.
Glatfelter is a full-service broker and insurance company providing services for specialty programmes and retail operations.
As part of AIG, Glatfelter brings “a high-quality specialty programmes business, a demonstrated track record of strong underwriting results and proprietary programme management technology that is expected to accelerate the strategic positioning of AIG’s General Insurance business,” according to a corporate statement.
“Glatfelter’s strong underwriting culture and deeply experienced management team with expertise in North American programs will help us deliver sustainable, profitable growth as we continue to build value for our stakeholders,” said Brian Duperreault, CEO of AIG. “We are very pleased to welcome Glatfelter to AIG.”
Peter Zaffino, AIG's CEO, general insurance, added: “Glatfelter is a terrific strategic fit for us. We look forward to working with Tony Campisi and the Glatfelter team to expand our programms business and deliver differentiated value to our clients and partners.”
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