American International Group Inc. said Monday that a subsidiary has bought all the outstanding shares of Ascot Underwriting Holdings Ltd. that AIG did not already own.
Ascot is the managing agency of AIG's Lloyd's Syndicate 1414, which was approved by Lloyd's of London in November 2001 to underwrite general insurance business.
AIG already held a 40% interest in Ascot and was scheduled to buy the rest of the shares in 2012. Neither the price nor the reason for the accelerated sale were disclosed.
AIG, which announced it completed the deal Monday, has offices in more than 130 countries.
