AIG Global Marine acquires Arch’s marine business (October 04, 2006)

American International Group (AIG) Global Marine, a division of AIG Inc.’s P&C insurance subsidiaries, has purchased Arch Insurance Co.’s U.S. ocean marine business.Under the agreement, which is effective immediately, AIG’s marine unit will service Arch’s U.S. marine portfolio.Richard Decker, president of AIG Global Marine, says the Company is looking forward to adding the Arch U.S. marine portfolio to its client base. Decker says the acquisition will provide its clients with greater financial strength, worldwide network, claims and loss control, as well as products and services.