AIG to Acquire Glatfelter Insurance Group to Strengthen Specialty Services
American International Group (AIG) has announced its plan to acquire Glatfelter Insurance Group, a privately held insurance broker based in York, Pennsylvania.
According to Reuters, the acquisition is part of AIG’s broader strategy to expand its global footprint and improve efficiency under the leadership of CEO Brian Duperreault. Although the financial details of the transaction have not been disclosed, this move is seen as a strategic investment in specialty insurance services.
Glatfelter specializes in niche markets and offers a variety of insurance programs and administrative support services. The acquisition is expected to enhance AIG’s capabilities in serving targeted industries, such as healthcare, education, and public entities.
“It’s not easy to find the right acquisition targets, but Glatfelter fits our criteria perfectly,” said Duperreault, who took the CEO position in 2017. “We’re focused on expanding in strong legal markets that offer stable regulatory frameworks.”
This is not AIG’s only recent acquisition.
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In June, AIG acquired Munich Re’s UK group insurance unit, continuing its focus on specialty and group insurance.
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In July, the company finalized the acquisition of Validus Holdings Ltd, a Bermuda-based reinsurer, in a deal valued at $5.56 billion. This marked AIG’s largest acquisition since the 2008 financial crisis.
AIG’s moves signal a return to active expansion, especially in the specialty lines sector. These acquisitions aim to diversify risk, increase profitability, and position AIG as a global leader in tailored insurance solutions.
Sources:
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Insurance Business America: AIG's acquisition strategy
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AIG Press Releases: www.aig.com
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