AIG, Hamilton Insurance, And Two Sigma To Establish JV - Quick Facts

(RTTNews) - American International Group, Inc. (AIG), Hamilton Insurance Group, Ltd., and affiliates of Two Sigma Investments, LP announced they have entered into a non-binding memorandum of understanding to form a joint venture that will establish a technology-enabled, customer-centric insurance platform for the Small to Medium-sized Enterprise market. The joint venture will combine Two Sigma's data science and technology platform, Hamilton's technology and underwriting expertise in the SME market, and AIG's SME capabilities.

Hamilton Chairman & CEO Brian Duperreault will serve as Chairman of the Board of the joint venture. Richard Friesenhahn, currently Executive Vice President of U.S. Casualty Lines at AIG, will assume the position of CEO.