High net worth

Buchmueller will leave the company at the end of 2023.

In tandem, its long-term issuer credit rating was revised to “a+” (excellent) from “aa-” (superior).

The new independent program manager will serve HNW and ultra-HNW markets and is expected to begin producing business in Q3 2023.

Both of them bring decades of experience in the private client industry.

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AIG has entered into a binding memorandum of understanding with Stone Point Capital to form an independent MGA to serve high-net-worth (HNW) markets, as it takes a dramatic step to address the volatility this business has brought.