Transaction Closes between AIG and Stone Point to Form High Net Worth MGA Private Client Select (PCS)
July 03 2023 - 1:15PM
Business Wire
American International Group, Inc. (NYSE: AIG) today announced
that its definitive agreement with funds managed by Stone Point
Capital LLC (Stone Point) to form an independent Managing General
Agency (MGA) specializing in the High Net Worth and Ultra High Net
Worth markets called Private Client Select Insurance Services (PCS)
has successfully closed.
AIG and Stone Point’s plans to form PCS and move AIG’s Private
Client Group (PCG) business to this new independent platform were
first announced in February 2023.
About AIG
American International Group, Inc. (AIG) is a leading global
insurance organization. AIG member companies offer insurance
solutions that help businesses and individuals in approximately 70
countries and jurisdictions protect their assets and manage risks.
AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @AIGinsurance
www.twitter.com/AIGinsurance | LinkedIn:
www.linkedin.com/company/aig. These references with additional
information about AIG have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
life and retirement and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries and jurisdictions, and coverage is subject to
underwriting requirements and actual policy language. Non-insurance
products and services may be provided by independent third parties.
Certain property-casualty coverages may be provided by a surplus
lines insurer. Surplus lines insurers do not generally participate
in state guaranty funds, and insureds are therefore not protected
by such funds.
About Stone Point
Stone Point is an investment firm based in Greenwich, CT, with
over $45 billion of assets under management. Stone Point targets
investments in companies in the global financial services industry
and related sectors. The firm invests in a number of alternative
asset classes, including private equity through its flagship
Trident Funds. Stone Point also manages both liquid and private
credit funds and managed accounts. In addition, Stone Point Capital
Markets supports our firm, portfolio companies and other clients by
providing dedicated financing solutions. For more information,
please visit https://www.stonepoint.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20230702451386/en/
AIG: Quentin McMillan (Investors):
quentin.mcmillan@aig.com Dana Ripley (Media):
dana.ripley@aig.com
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