AIG to Form Special Purpose Vehicle through a Strategic Partnership with Amwins and Blackstone, and Launches Collaboration with Palantir on GenAI Capabilities

Longer term, in collaboration with Palantir, AIG will leverage Palantir’s Foundry platform and multiple Large Language Model agents to quickly retrieve data and evaluate defined risk characteristics to understand how the Amwins’ program portfolio aligns with the Syndicate's risk appetite. In connection, AIG has developed an ontology that will enable Large Language Models to access over four million industry data points to further expand its underwriting capabilities.

“Our partnership with Amwins and Blackstone represents the next level of innovation, technical modeling and use of GenAI for portfolio underwriting. To build a balanced portfolio across lines of business for AIG and our capital partners, we collaborated with Palantir to analyze the portfolio with specific characteristics. The formation of Syndicate 2479, which includes capital investment provided by Amwins and Blackstone, further advances our deployment of GenAI through a capability that can evaluate risk with more data and analytics at the individual level to optimize the special purpose vehicle. We believe this capability will unlock future opportunities for expansion and innovation in specialty and other lines of business,” said Peter Zaffino, Chairman & CEO, AIG.

“We are excited about this new partnership which allows us to invest aligned capital alongside our multiline dedicated underwriting portfolio,” said Scott Purviance, CEO, Amwins. “In addition, it will facilitate our ability to create new programs and build long-term sustainable capacity. AIG’s underwriting knowledge and GenAI capabilities truly facilitated the creation of this new syndicate.”

“We’re proud to partner with AIG in its visionary approach to transform the insurance industry,” said Dr. Alex Karp, Palantir CEO and co-founder. “AIG’s deployment of Palantir’s software helps drive new partnership opportunities and efficiencies as exemplified by this new SPV.”

Evercore, Aon plc and Debevoise & Plimpton LLP acted as advisers for AIG.

About AIG

American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in more than 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

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