The transaction, initially announced in June 2024, was finalised on December 2, 2024.
The sale excludes certain components of AIG’s operations, such as its Japan business, the joint venture arrangement in India, and travel insurance offerings provided through AIG’s Group Accident & Health division.
AIG engaged Evercore Group LLC as its financial advisor for the transaction. Legal counsel was provided by Willkie Farr & Gallagher LLP and Norton Rose Fulbright LLP.
AIG continues to deliver insurance solutions across approximately 190 countries and jurisdictions, offering products that help individuals and businesses protect assets and manage risks through its global operations and network partners.
In other recent developments, Zurich Resilience Solutions, the risk advisory and services unit of Zurich Insurance Group, introduced Climate Spotlight, an interactive digital tool designed to help businesses, municipalities, and other public entities understand and manage climate risks.
Zurich says that the platform leverages climate data to support risk mitigation strategies and resilience planning.
“Climate Spotlight caters to the needs of companies and public entities by giving them access to state-of-the-art climate risk data and analysis in a flexible and accessible manner that empowers them to take action and safeguard their people and assets,” Zurich Resilience Solutions global head of climate and sustainability solutions Amar Rahman said.
Meanwhile, AIG also expanded its ranks with the appointment of Christopher Schaper as chief risk officer.
Schaper, who has been serving as AIG’s interim chief risk officer since September, will continue to report to AIG chairman and chief executive officer Peter Zaffino and remain a member of AIG’s executive leadership team.
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