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Insurance Breaking News | Home & Auto Insurance

AIG closes acquisition of Glatfelter

AIG closes acquisition of Glatfelter

AIG has accomplished its acquisition of full-service dealer and program supervisor Glatfelter Insurance coverage Group.

The transaction was first introduced in September. Based on AIG, the acquisition is a key component in its technique to reposition its common insurance coverage enterprise.

Headquartered in York, PA, Glatfelter is understood for providing providers for specialty packages and retail operations. The dealer has greater than 500 associates serving 30,000 shoppers throughout each the US and Canada.

“Glatfelter’s robust underwriting tradition and deeply skilled administration staff with experience in North American packages will assist us ship sustainable, worthwhile progress as we proceed to construct worth for our stakeholders,” stated AIG CEO Brian Duperreault. “We’re very happy to welcome Glatfelter to AIG.”

“Glatfelter is a terrific strategic match for us. We look ahead to working with Tony Campisi and the Glatfelter group to increase our Packages enterprise and ship differentiated worth to our shoppers and companions,” commented AIG CEO of common insurance coverage Peter Zaffino.

AIG posted its third quarter outcomes final week, reporting a internet loss for the quarter pushed by disaster losses in each Japan and North America.