The acquired portfolio provides admitted coverage in 14 states across the US.
The specialised casualty underwriting business was launched on the Castel MGA platform in 2015.
Toyota is the newest partner to join Swiss Re's ADAS risk platform after the BMW Group.
The insurance service provider has acquired a third party administrator (TPA) TriPlus.
The partnership seeks to address data gaps in traditional coverage using analytics and artificial intelligence.
It will enable insurers to gain a better understanding of pricing, underwriting and claims dynamics.
The acquisition aligns with the group-wide strategy to grow its technology services and reach a broader client base.
IAG said the appointment follows a comprehensive internal and external search.
It also reflects Lloyd's capital collection for £3bn of COVID-19 losses.
Says the World InsurTech Report 2020 published by Capgemini and Efma.