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Levitz will become executive chairman starting in 2025. -
Sources said that the business will be marketed off adjusted Ebitda of ~$500mn, including a title broking asset.
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The move is the latest phase of the operational transformation program, AIG Next.
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It will offer additional capacity to WTW US property clients with a limit up to $25mn.
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The underwriting units produced revenue of $11mn in the year to June 30.
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Geo Europe CEO Walter Craft will remain with the financial lines business.
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The US carrier abandoned the project due to high price expectations.
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Portfolios of clients of varying size in the same region aggregate more risk.
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White Rock claims CCB was responsible for the “lion’s share” of fraudulent letters of credit.
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The PVT market has seen a recent spike in staff movements, as new capacity enters the space.
