AIG has partnered with funds managed by Amwins and Blackstone to launch a new Lloyd’s syndicate (Syndicate 2479) with a novel structure that brings together specialist distributors, insurers and a Lloyd’s platform backed by third-party capital.
Syndicate 2479 is expected to begin underwriting on January 1, 2026, with initial premiums of approximately $300 million, to be managed by AIG.
According to AIG, the portfolio reflects a broad and highly diversified cross-section of Amwins’ approximately $6 billion of authorized premiums.
As part of the assessment, AIG deployed Palantir’s Foundry platform to validate its detailed analysis of the product portfolio.
Going forward, the insurer said it will continue to use Foundry, along with multiple large-scale language model agents, to quickly retrieve data and assess defined risk characteristics, helping determine how Amwins’ programmatic business aligns with the group’s risk appetite.
At the same time, AIG developed an ontology that gives large language models access to more than four million industry data points, further enhancing its underwriting capabilities.
Peter Zaffino, AIG Chairman and CEO, commented: “Our collaboration with Amwins and Blackstone represents a new level of innovation, technology modeling and the use of GenAI in portfolio underwriting.
“To build a balanced portfolio across business lines for AIG and our capital partners, we worked with Palantir to analyze portfolios with specific characteristics.
“The formation of Syndicate 2479, which includes capital investment from Amwins and Blackstone, further advances our deployment of GenAI to optimize special purpose vehicles’ capabilities by leveraging more data and analytics at an individual level to assess risk.
“We believe this capability will create opportunities for future expansion and innovation in professional and other business lines.”
Scott Purviance, CEO of Amwins, said: “We are very excited about this new partnership, which allows us to invest consistent capital alongside our multi-line dedicated underwriting portfolio.
“In addition, it will enhance our ability to create new programs and build long-term sustainability. AIG’s underwriting knowledge and GenAI capabilities truly facilitate the creation of this new group.”
Dr. Alex Karp, CEO and co-founder of Palantir, added: “We are honored to partner with AIG on its visionary approach to transforming the insurance industry. AIG’s deployment of Palantir software helps drive new collaboration opportunities and efficiencies, as exemplified by this new SPV.”