AIG and Stone Point Capital to form a joint venture.

American International Group, a global insurance organization, and Stone Point Capital, a private equity firm, agreed to form a joint venture, an independent managing general agency. Financial terms were not disclosed. “As previously disclosed, AIG has been exploring structures that, over time, will allow PCG to be supported by third-party capital providers, including AIG and its innovative syndicate at Lloyd’s, referred to as Syndicate 2019. By partnering with a world-class private equity firm like Stone Point, we can maximize the strengths of this business and improve product offerings to better serve the High and Ultra High Net Worth markets,” Peter Zaffino, AIG Chairman and CEO.