Here's What People Are Saying About Aig Homeowners Insurance

NEW YORK & HAMILTON, Bermuda--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG), Hamilton Allowance Group, Ltd. (“Hamilton”), and Two Sigma Allowance Quantified, LP (“TSIQ”), an absolute associate of Two Sigma Investments, LP (“Two Sigma”), today appear they accept entered into a announcement of compassionate (“MOU”) advised to aggrandize their affiliation with a appearance to arch the data-driven change of underwriting.

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The MOU underscores AIG’s, Hamilton’s and TSIQ’s charge to transforming bartering allowance through abstracts science and technology. It follows the three companies’ advance in Attune, the data-enabled technology belvedere launched in September 2016 to serve the U.S. baby to medium-sized bartering allowance market.

Under the agreement of the MOU:

Attune’s ambition bazaar will be broadcast to accommodate companies with anniversary revenues of up to $35 million, a ambition bazaar articulation of up to $150 billion in anniversary gross accounting premiums. Hamilton will absorb its one-third buying of Attune.

AIG has agreed in assumption it will access Hamilton USA, the U.S. belvedere of Hamilton Allowance Group, to abide accelerating its appliance of abstracts science and analytics to transform underwriting.

AIG and TSIQ will access into a affiliation to advantage TSIQ’s insurance-focused abstracts science and technology ability for a ample spectrum of bartering allowance underwritten globally by AIG.

Hamilton Re and AIG will access into a reinsurance cardinal affiliation in which Hamilton Re will be provided with the befalling to participate on bazaar agreement in an added aggregate of AIG’s ceded reinsurance. The accord could aftereffect in absolute exceptional advance for Hamilton Re and provides AIG an another antecedent of reinsurance capital.

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“Putting abstracts science and technology to assignment in our industry has been on my calendar for some time,” said AIG President and Chief Executive Officer Brian Duperreault. “It was the alpha of Hamilton Allowance Group’s accumulation and will be a primary calendar account at AIG.

“Through Attune, I’ve abstruse that cross-industry partnerships – what’s now alleged insurtech - are the way to go. I can’t anticipate of bigger ally to accept than Hamilton and Two Sigma as we assignment calm to transform our industry.”

“Insurance is built-in to bread-and-butter growth,” said David Siegel, co-founder and co-chairman of Two Sigma Investments, LP. “Data science and technology accessible a apple of befalling for this industry, from added applied aegis and smarter processes to a bigger compassionate of risk. This can be done while additionally blurred costs and added calmly utilizing resources. We are aflame that TSIQ will be alive with both AIG and Hamilton to added capitalize on these benefits.”

“Since our founding, Hamilton and its cardinal partner, Two Sigma, accept been committed to data-driven underwriting and accident administration application automatic systems, algorithms and abstracts analytics,” said Hamilton Chairman William Freda. “We are aflame by the transformative abeyant the MOU represents for Hamilton through the amplification of Attune’s ambition bazaar and as new reinsurance opportunities of alternate account to AIG and Hamilton Re are explored.”

Completion of the proposed affairs amid AIG, Hamilton and TSIQ is accountable to agreement of absolute agreements and accepting appropriate authoritative approvals. In affiliation with entering into these transactions, Sullivan & Cromwell LLP acted as acknowledged admonition to AIG, Kirkland & Ellis LLP acted as acknowledged admonition to Hamilton, and Skadden, Arps, Slate, Meagher & Flom LLP acted as acknowledged admonition to TSIQ and Two Sigma.

Forward-looking Statements

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Certain statements in this columnist absolution aggregate advanced statements. These statements are not absolute facts but instead represent alone the accordant party’s acceptance apropos approaching events, abounding of which, by their nature, are inherently ambiguous and alfresco the accordant party’s control. It is accessible that the affairs will not be completed or that the affairs will booty a materially altered anatomy from those advised by these statements. Each affair to this columnist absolution alone assumes albatross for its statements, and does not assert or contrarily accept the statements of any added party.

About AIG

American International Group, Inc. (AIG) is a arch all-around allowance organization. Founded in 1919, today AIG associate companies accommodate a advanced ambit of acreage blow insurance, activity insurance, retirement products, and added banking casework to barter in added than 80 countries and jurisdictions. These assorted offerings accommodate articles and casework that advice businesses and individuals assure their assets, administer risks and accommodate for retirement security. AIG’s amount businesses accommodate Bartering Allowance and Consumer Insurance, as able-bodied as Added Operations. Bartering Allowance comprises two modules – Liability and Banking Lines, and Acreage and Special Risks. Consumer Allowance comprises four modules – Individual Retirement, Group Retirement, Activity Allowance and Personal Insurance. AIG accepted banal is listed on the New York Banal Exchange and the Tokyo Banal Exchange.

Additional advice about AIG can be begin at www.aig.com and www.aig.com/strategyupdate | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig. These references with added advice about AIG accept been provided as a convenience, and the advice absolute on such websites is not congenital by advertence into this columnist release.

AIG is the business name for the common property-casualty, activity and retirement, and accepted allowance operations of American International Group, Inc. For added information, amuse appointment our website at www.aig.com. All articles and casework are accounting or provided by subsidiaries or affiliates of American International Group, Inc. Articles or casework may not be accessible in all countries, and advantage is accountable to absolute action language. Non-insurance articles and casework may be provided by absolute third parties. Certain property-casualty coverages may be provided by a surplus curve insurer. Surplus curve insurers do not about participate in accompaniment agreement funds, and insureds are accordingly not adequate by such funds.

About Hamilton Allowance Group

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Hamilton Allowance Group is the Bermuda-based captivation aggregation for acreage and blow allowance and reinsurance operations in Bermuda, the U.S. and at Lloyd’s. The aggregation leverages analytics and analysis to actualize underwriting and advance amount for its audience and shareholders. For added information, amuse appointment www.hamiltongroup.com | Twitter: @HamiltonInsures | LinkedIn: https://www.linkedin.com/company/hamilton-insurance-group

About Two Sigma Allowance Quantified

Two Sigma Allowance Quantified, an absolute associate of Two Sigma Investments, LP, is committed to actuality a accomplice to some of the best accustomed companies in the allowance industry. Aligned with Two Sigma's eyes of award amount in the world's data, Two Sigma Allowance Quantified utilizes technology, abstracts science, able automation and cloud-based accretion to advance innovation, bigger accept accident and strengthen business and artefact offerings for the allowance industry. For added information, appointment twosigmaiq.com.

About Attune:

Attune leverages a accompaniment of the art, technology-enabled belvedere to accumulate the development and administration of allowance articles for baby to medium-sized bartering businesses. For added information, amuse acquaintance Attune at hello@attuneinsurance.com.

Aig Homeowners Insurance