AIG Buys Arch Ocean Marine Business

AIG Global Marine, a division of the property and casualty insurance subsidiaries of American International Group, has purchased the U.S. Ocean Marine business from Arch Insurance Company.

Under the terms of the agreement, which is effective immediately, the U.S. ocean marine insurance business underwritten by Arch will be serviced by AIG Global Marine.

“We look forward to the addition of the Arch U.S. marine portfolio to our client base, and to offer those clients the financial strength, worldwide network, superior claims and loss control, and the wide range of products and services that distinguish AIG Global Marine as a market leader,” stated Richard Decker, President, AIG Global Marine.