Ascot to remain with AIG

After the recent speculation about the future of Ascot Underwriting we are pleased to announce that AIG has confirmed its commitment to our company. During this difficult time for AIG we have continued to enjoy their support for our business, including AIG's pledge to provide adequate funds to support our 2009 business plan with Lloyd's.

Martin Reith, Chief Executive of Ascot Underwriting said, "I am delighted that the questions around Ascot's future have been resolved. This is an important time in the Lloyd's market, with business planning for 2009 in process and the upcoming 1/1 renewals. I am pleased that Ascot will continue to build on our already strong relationship with AIG, which brings mutual opportunities and benefits to both companies."

Lex Baugh, Managing Director of AIG UK said, "I am glad that Ascot will remain a key part of AIG's operations in London. With their entrepreneurial approach to their business and focus on their customers, AIG is proud to have Ascot represent us in the Lloyd's market."

Ascot remains committed to providing the best service to meet the needs of our brokers and clients. We believe that the combination of trading on the Lloyd's platform, with the credit ratings assigned to Lloyd's and policies backed by the Lloyd's Central Fund, and the strength of the AIG brand is a very compelling proposition.

 

Click here to view the the AIG press release about the company's plan to refocus on its core property and casualty insurance businesses: AIG to Refocus as Worldwide Propery and Casualty Company with Continuing Presence in Foreign Life