AIG
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The SPV will underwrite a “broad and highly diversified” portion of Amwins’ ~$6bn delegated authority premiums. -
The deal follows a minority investment from the insurer in the summer.
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Clifford’s appointment follows Everest’s $2bn renewal rights sale to AIG.
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This publication revealed earlier Everest could sell its LatAm and Canadian units.
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Carriers underweight in E&S could lead the charge in the next round of M&A.
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The move from Chubb comes at a moment of perceived weakness for AIG.
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Approached for comment, Chubb denies that it submitted “an offer” for AIG.
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The payment will cover what the filing called “foregone incentives at his former employer”.
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The industry veteran retired from AIG at the end of last year.
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The HNW MGA previously had an exclusive distribution agreement under a partnership signed in July 2024.
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Whether Clement's promotion was influenced by an inappropriate relationship is in scope.
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The timing is unhelpful as the global insurer tries to get on the front foot with M&A.
