American International Group (AIG) has increased the capacity available through its London market platform by $10 million.
For the exclusive use of the international wholesale market, the capacity is dedicated across all products in financial lines and casualty.
AIG has also created a London Market trading lounge at its Fenchurch Street office with the aim of providing brokers on-the-spot decision making for international traded and excess opportunities.
Jacqueline McNamee, managing director of AIG UK, said: “People come to London because they want to place their whole or significant proportions of their programmes here. Historically, we have not been known for excess-traded business, but this ring-fenced capital should be a significant statement of intent that this perception is wrong.
“This capacity will be traded independently, and will be for the exclusive use of the international wholesale market. As such it will have a separate stamp, separate management, and dedicated underwriters. It will facilitate immediate decision making. It’s the first time that AIG has done this.”