American International Group, Inc. on Tuesday announced it has completed its acquisition of Glatfelter Insurance Group (“Glatfelter”). The transaction, which was first announced on September 21, 2018, has closed following receipt of regulatory approvals and satisfaction of other customary closing conditions.
As part of AIG, Glatfelter brings a high-quality specialty programs business, a demonstrated track record of strong underwriting results and proprietary program management technology that is expected to accelerate the strategic positioning of AIG’s General Insurance business.
“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, President and Chief Executive Officer of AIG. “We are very pleased to welcome Glatfelter to AIG.”
Peter Zaffino, AIG’s Chief Executive Officer, General Insurance, said, “Glatfelter is a terrific strategic fit for us. We look forward to working with Tony Campisi and the Glatfelter team to expand our Programs business and deliver differentiated value to our clients and partners.”
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.