AIG to Form Special Purpose Vehicle through a Strategic Partnership with Amwins and Blackstone, and Launches Collaboration with Palantir on GenAI Capabilities

Key Terms

special purpose vehicle financial

A special purpose vehicle (SPV) is a separate legal entity created to isolate financial risk or hold specific assets, much like a dedicated safe for a particular investment or project. Investors pay attention to SPVs because they can influence how risks and rewards are managed, and sometimes they are used to structure transactions more efficiently or hide certain financial details.

spv financial

An SPV (special purpose vehicle) is a separate legal entity created to hold specific assets, run a particular project, or issue securities, keeping those activities legally and financially distinct from the sponsor’s main business. Think of it as a sealed bucket used to isolate risk and cash flows—this matters to investors because an SPV can limit exposure to losses, affect credit risk and transparency, and influence how returns and liabilities are reported.

syndicate financial

A syndicate is a temporary group of banks, brokers or lenders that join forces to underwrite, distribute or fund a large securities offering or loan — like several people pooling money to buy something too big for one person. For investors it matters because the syndicate spreads risk, helps set price and allocation of the new securities or debt, and the members’ reputation and size can influence demand and how the market receives the deal.

delegated authority financial

Delegated authority is the formal handing of decision-making power from a company’s board, executive, or regulator to a manager, committee, or outside party to act on specific matters. Like lending someone the car keys for a particular trip, it speeds routine decisions and lets specialists act quickly, but it also matters to investors because it affects oversight, accountability, and the risk that decisions may be made without full board review.

large language model technical

A large language model is a computer system trained on vast amounts of text to understand and generate human-like writing, like a very well-read virtual assistant that can summarize, draft, translate, or answer questions. Investors care because it can change how businesses operate and compete—boosting productivity, cutting costs, or enabling new products—while also creating risks around accuracy, regulation, and security that can affect revenue and valuation.

genai technical

Generative AI (genai) is a type of artificial intelligence designed to create new content, such as text, images, or music, that resembles human-produced work. It matters to investors because it has the potential to transform industries by automating tasks, enhancing creativity, and enabling new products and services, which can influence company performance and market opportunities.

ontology technical

An ontology is an organized map of concepts and the rules that show how pieces of information are related, so different systems and people can understand the same thing the same way. For investors, it matters because a clear map makes it easier to compare companies, automate analysis, spot inconsistencies, and meet reporting or regulatory requirements—think of it as a consistent filing system that helps turn messy data into reliable decisions.

AIG and Amwins collaborate to form Syndicate 2479, a new Special Purpose Vehicle (SPV) at Lloyd’s managed by Talbot Underwriting Limited, providing capacity for portfolio solutions supported by capital commitments from Amwins and funds managed by Blackstone

AIG, Palantir and Amwins collaborate on GenAI solutions to enable enhanced data retrieval and comprehensive analysis of portfolios

NEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (NYSE: AIG) in collaboration with Amwins, a global distributor of specialty insurance products and services, and funds managed by Blackstone, the world’s largest alternative asset manager, today announced they will be forming a new Lloyd’s syndicate, Syndicate 2479, a novel structure involving a specialty distributor, insurer and Lloyd’s syndicate backed with third-party capital. On January 1, 2026, Syndicate 2479 will commence underwriting $300 million of premium that will be managed by AIG. This portfolio is representative of a broad and highly diversified cross section of Amwins’ ~$6 billion of delegated authority premiums. As part of the assessment, AIG deployed Palantir’s Foundry capabilities to validate its in-depth analysis of the portfolio.

Longer term, in collaboration with Palantir, AIG will leverage Palantir’s Foundry platform and multiple Large Language Model agents to quickly retrieve data and evaluate defined risk characteristics to understand how the Amwins’ program portfolio aligns with the Syndicate's risk appetite. In connection, AIG has developed an ontology that will enable Large Language Models to access over four million industry data points to further expand its underwriting capabilities.

“Our partnership with Amwins and Blackstone represents the next level of innovation, technical modeling and use of GenAI for portfolio underwriting. To build a balanced portfolio across lines of business for AIG and our capital partners, we collaborated with Palantir to analyze the portfolio with specific characteristics. The formation of Syndicate 2479, which includes capital investment provided by Amwins and Blackstone, further advances our deployment of GenAI through a capability that can evaluate risk with more data and analytics at the individual level to optimize the special purpose vehicle. We believe this capability will unlock future opportunities for expansion and innovation in specialty and other lines of business,” said Peter Zaffino, Chairman & CEO, AIG.

“We are excited about this new partnership which allows us to invest aligned capital alongside our multiline dedicated underwriting portfolio,” said Scott Purviance, CEO, Amwins. “In addition, it will facilitate our ability to create new programs and build long-term sustainable capacity. AIG’s underwriting knowledge and GenAI capabilities truly facilitated the creation of this new syndicate.”

“We’re proud to partner with AIG in its visionary approach to transform the insurance industry,” said Dr. Alex Karp, Palantir CEO and co-founder. “AIG’s deployment of Palantir’s software helps drive new partnership opportunities and efficiencies as exemplified by this new SPV.”

Evercore, Aon plc and Debevoise & Plimpton LLP acted as advisers for AIG.

About AIG

American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in more than 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251218723190/en/

Quentin McMillan (Investors): quentin.mcmillan@aig.com

Leah Gerstner (Media): leah.gerstner@aig.com

Source: American International Group, Inc.