American International Group Inc. said it has acquired Ascot Underwriting Holdings Ltd., the managing agency of AIG's Lloyd's Syndicate 1414.
Ascot is approved by Lloyd's to underwrite general insurance business beginning with the 2001 year of account.
AIG previously held a 40 percent minority interest in Ascot, and this transaction involved an acceleration of its option to purchase the agency in 2012. Terms were not disclosed.
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