AIG Global Marine acquires Arch’s marine business (November 01, 2006)

American International Group (AIG) Global Marine, a division of AIG Inc.’s P&C insurance subsidiaries, recently purchased Arch Insurance Co.’s U.S. ocean marine business.

AIG’s marine unit will now service Arch’s U.S. marine portfolio.

Richard Decker, president of AIG Global Marine, said the company is looking forward to adding the Arch U.S. marine portfolio to its client base. Decker added the acquisition would provide its clients with greater financial strength, a worldwide network, increased claims and loss control, as well as more products and services.